RR 015 | Cesar Pena & Weiming Peng

Today on Real Realtors, I sat down with Cesar Pena and Weiming Peng. Cesar is a Loan Officer for Rubicon Mortgage Fund, and focuses on securing his clients short term financing for commercial and residential properties. Weiming works with Asset Exchange Company, dealing mainly with 1031 Exchanges. Weiming is most known for the seminars on 1031 Exchanges he gives all over the country. We spent the episode discussing the complexities of 1031 Exchanges, as well as what you should know when trying to secure financing for bridge loans, as well as touch upon the continued housing crisis in the Bay Area Cesar Pena: http://bit.ly/2BqHFYk                 Phone: 925-239-6609 Weiming Peng: http://bit.ly/2DjGDuD           Phone: 415-992-6120 Intros- Background Cesar, at Rubicon for the last 4 years, started as a marketing rep Wei Peng, Asset Exchange Development Director for the last 3 years 1031 Exchanges Standard breakdowns, 4 types 1: Simultaneous Exchange 2: Regular Exchange 3: Delayed Exchange 4: Reverse Exchange Bridge Loans Process Pros and cons of hard money bridge loans Guidelines and rules 1031 Exchanges With or Without a Partner Assisting client when the partner is not present Complications arise when involved with a trust or LLC Drop and Swaps Protections, splitting LLC's Hard Rate Loans Factors to price a loan Financial Factors Net operating income and loan amount Don't want a borrower to get stuck Don't factor in credit score/ track record Note Purchasing 1031 Exchange Seminars Focus on different types New changes in 2018 Exchanges beyond real estate Bay Area Market Causes of rising prices, low inventory Low unemployment in the Bay Area Adjustment Coming? Expected in two years by some Market still hot, more expensive housing More properties being bought in Sacramento Condo building Getting into the business Contact Info/ Wrap