Small Balance Commercial Loans: How Realtors can Crack into Commercial with these tools

Thanks to Lisa Abrams-Cruz - a soon to be ActiveRainer and to Cyndee Haydon, my fellow Wildcat in the Sugar Sands of the Gulf Coast for making me think about this post enough to come up with something coherent...and thanks to Renee Burrows for kicking me off with a post that this legitimately compliments!

Renee's post was titled When You are Just Getting into the Biz ~ Sphere is #1! and now I will illustrate one way for Residential Realtors to get a taste of Commercial, using their Spheres!

In a previous post, a VERY early post for me, I wrote about How to turn your C inventory into your A clients - it is a theory of Production Management that I learned during my MBA. In this case, I'm going to couple Renee's ideas with C Inventory to show you how to get a start in some Small Commercial Real Estate transactions.

So... let's review. Your Sphere of Influence is the people you know that know you. Friends, Family, past clients/customers/vendors etc... basically people that know your name when you call. Taken a step further as your have progressed in your Real Estate Career... your Sphere should have grown with your Database.

Now, you not only have that person you used to carpool with... but you have their friend Joe, their little sister and 3 or 4 of their co-workers too!

Then there are the people that bought from you a while back, you've sent some cards and such... but you really haven't heard from them in a while. They are your C Inventory. They're in your database... on a shelf... gathering dust just like that fuel pump for the '73 Camaro you restored three years ago but it still sits covered in a tarp in your driveway. In business... it is the products you stock but rarely sell.

So what does this have to do with Commercial Real Estate?

Everything! Now is the time to look through that database and RESORT your data!

What should you be looking for?

• Doctors
• Lawyers
• Dentists
• Accountants
• General Small Business Owners
• General Contractors
• Plumbers who own their businesses

Pretty much any entrepreneur type will do.

What's the gig like?

Well, you should be keeping up with these people in their goings on - just like normal. Now, though you're going to schedule some time specifically to offer the new service of finding them Commercial Real Estate Options for their Practices and for Investment Purposes.

One scenario is:

You -, "Did you know that you, Dr. J, can BUY your office space with 100% financing to Doctors AND great rates??... No? Well, I have a mortgage partner that has access to some local lenders offering that program. Doesn't that sound great?"

This is the same Rent vs Buy scenario you pitch to first time homebuyers but now you get to talk to them about Depreciation, Tax Advantages, Long Term Gain, 1031 exchanges... all those great things that come up in a commercial talk.

Dr. J - "Well... I'm not sure I would do 100% financing in this market and I don't think I have the cash to put down on what I need."

You - "But you are interested! So maybe we just need to get David on the phone and he can talk to you about some options that might help you get there. He knows how to make these deals work out perfectly for your specific financial needs..."

Dr. J - "I did see all those Medical Office Condo signs up Jog Road in Boynton Beach, Florida and I would love to have my practice nearer to my home AND most of my clients are up there"

You - "Sounds like a match made in heaven"

Another scenario would be for a General Contractor:

You - How's business Mr. Carpenter?

Mr C. - Great... we're so busy and we're bursting at the seams. I need to grow my company but I just can't seem to get it done right

You - Well were you thinking of getting some more space? Maybe buying... and getting a Working Line of Capital to help you with expenses?

Mr C. - Yeah ... that would be great. I've got 1500 square feet and 20 employees jostling for room. I need some storage and a better office space or my secretary is going to quit again.

You - I know there are some great contractor parks out there with units for sale in this area. On top of that you might get some referrals from your neighbors in similar businesses. With today's great rates, you should also talk to my mortgage partner... he can get you great rates with 10-15% down!

Mr C. - I would love to talk about that!

You - why don't I patch him in and we'll set up a meeting right now!

Yeah Yeah Yeah - role playing is silly... but most great sales training courses have it mandated!

The point is, Now you have the list of clients to target in your list. They are your C Inventory because they haven't been taken off the shelf to sell them yet! They can become your A Inventory because you could get them into another transaction if you just know what buttons to push.

It isn't even about finding them the space. Commercial Space is easy to find - it is on the main roads. Seldom do you find normal businesses hidden away... but should you need one, you'll find it! Most office Condos are on main roads. Most Warehouse Condos and Industrial Condos are clustered in certain areas of town.

So you know what area they want to be in, you know what type of property they want, you know square footage..., start driving! Take your camera and take some notes. You'll find it for them in no time.

Between you, me and a good commercial real estate attorney, we can create your first real commercial deal and make it SMOOOOOOTH sailing!

Whether your client wants to buy an Office Condo or Office Building, a Warehouse Condo or an Industrial Park, a Retail Condo a Strip Center or a Shopping Center... or if they want to just invest in some new property...working together, we can get you on your way to selling some commercial real estate!

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David A. Podgursky, MBA
The Mortgage Go To Guy
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Boynton Beach Florida: Places To Go, Things to Do

You might not think of Boynton Beach,Florida as a happening place, but it is definitely booming right now. The growth both in East and West Boynton Beach, Florida are fueling a huge retail and mixed use explosion!

In a previous post I mentioned a new Neighborhood Center - Canyon Town Center - but there is another new development on the East side of town.

Boynton Town Center.

Boynton Town Center will be a new huge Power Center in the ICSC (International Council of Shopping Centers)Scale. It will get this grade due to having three major national Anchor tenants:

• Super Target
• Best Buy
• Linens N Things

Over 20 other retailers, restaurants and service providers have signed leases to fill in much of the rest of available Space. Here is a current list of future tenants.

• Jason's Deli
• Doc Green's Gourmet Salads
• Moe's Southwest Grill
• Rotelli's Pizza and Pasta
• Smokey Bones Barbeque & Grill
• Red Lobster
• Panda Express
• Pollo Campero
• Shoe Carnival
• Hot Heads
• Bombay Co.
• Game Stop
• Payless Shoe Store
• Mattress Giant
• Jamba Juice
• Hollywood Tans
• Massage Envy
• Sports Clips
• Great Clips
• Jos. A. Bank

Nestled directly across the street from the Boynton Beach Mall, this shopping center will boast over 400,000 square feet of pedestrian friendly shopping, making it the first landmark of the new Boyton Beach Florida Revitalization efforts.

According to its Developers, Sembler and Compson Associates, Boynton Town Center will also inclue 10,000 square feet of office space (notice the 2nd level) and over 1000 residential units. This will be in direct competition to the Renaissance Commons which has 1000 residential units as well, but only in a Mixed Use type development with ancillary retail. Renaissance Commons has an Eat, Work, Play mentality with some townhome style units offering ground floor entries that will cater to those who want an office space in that area and to live above them. Renaissance Commons is also a Compson Associates development.

It is estimated that this center will see over 95,000 cars per day in North and Southbound Traffic in its Congress Road location.

The Palm Beach Post reports: "Outdoor art and benches, stone and brick finishes and a main street designed to evoke the ambiance of old-fashioned downtown main streets"

All of this development is quickly turning Boynton Beach Florida into a great place to live in Palm Beach County Florida.

Once open and with the May 4th opening of a new Muvico Theater Cinemas across the street in the Simon Properties owned Boynton Beach Mall... Boynton Beach Florida will also be a great place to play in Palm Beach County, Florida!

*images and site map courtesy of Sembler Website and Marketing Materials

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David A. Podgursky, MBA
The Mortgage Go To Guy
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Affordable Housing in South Florida: Part 2 -PreConstruction

AFFORDABLE HOUSING?? - Section 2: Preconstruction

Part 1 is here.

So in November, an acquaintance of mine left me a voicemail that she had a "Hot Hot Hot" lead for me...her sister. I was flattered and called her back. She said she was in the middle of meetings so she'd be brief. There was a new community about to be announced in Boynton Beach, Florida that was affordable housing. It was going to start in the low $300's... I let out a little chuckle when she said that number. Her sister was going to get in line for reservations and she wanted me to get the mortgage. She told me she'd call me back later when she was free.

So...I did some digging into the facts of this new community to see how I could help. The rumor that I was told was that GL Homes had seen sagging sales in Canyon - their mega-community/small township in West Boynton Beach. It is a huge undertaking that will definitely alter the demographics of West Boynton. The problem is that the houses started in the high $400Ks without any upgrades or lot premiums. Most of the houses price $500K+. So GL found a parcel nearby and made some deal to move a school and build a park so they could have this space for a lower cost community.... And Greystone was born!

Greystone was to be part of the affordable housing answer in Boynton Beach. It was also likely to satisfy the affordable housing quotas that GL may not meet in Canyon! Nevertheless, I wanted to get to the nitty gritty and how I could help this family get into its dreamhome.

Here's what I found:

• Presales were going to happen one weekend in December and people were already clammering to stand in line.
• The first deliveries of homes was scheduled for Q1, 2008. Since they've only graded the land so far, I believe fully that this is builder time and not actual time so Q2 if we're lucky.
• These were all owner occupied homes - no investors - to protect the homeowners
• Reservation fees were $3,000 non-refundable
• 10% Deposits were required once a model was selected
• Then, 10days later lots would be released 10% of the lot premium would be due at that time
• A meeting with the design group would then require 10% down on all upgrades. Minimum upgrades expected to range $50-60K on the smallest model
• Smallest Model was 1500sf, 3/2/2, ranch - $330K

It all sounds normal, right? All 500 homesites sold out in 5hours and the news reported that GL made $5B - that's a B as in Billion - for the builder.

So... then I did the math.

• Reservation fee $3,000
• 10% down on small model $33,000
• 10% on lot premium $0 for arguments we'll say no upgrade here
• 10% of minimal upgrades $5,000
• For a Grand Total of $41,000 due within 30 days

Still sounds normal? Ok... let's break this down

These were billed as AFFORDABLE HOMES. Advertised as suitable for some MODERATE INCOME TRACT buyers in Palm Beach County. The qualification for Moderate Income Tract for a two income family in Palm Beach County has a ceiling... a CEILING... of $96,000 per year! Divided by the deposit is 41.8% of the annual income of this family is spent on the deposit.

That $96,000 is GROSS income... not Net, not Adjusted Gross... GROSS Income. So at $96,000, that person is in the 25% tax bracket and owes around $7,000 in income tax given just the standard married filing jointly deduction and one child. This nets the income down to $89,000 but raises that percentage to 46% of the annual adjusted income!

Then, if you look at the annual average savings of a US family of 2% - let's ramp that up to 5% for argument's sake - and we're only seeing roughly $4500 socked away of the take home pay! So the deposit is 11 years of savings!!

Then, if somehow the family has the cash to put another 10% down at closing, the loan amount would be $304,000. The interest only payment at 6.25% is $1583 per month. Add $435 per month for taxes. Another $225 per month in insurance. Another $100 per month homeowners association. Total PITI (Principal Interest Taxes and Insurance) payment is $2,343. It all looks good with a 29% front end ratio... which is a little high but probably doable if you went stated income and used only the back end. But then that leaves only $1,657 per month for all the rest of the obligations before you reach a 50% back end ratio!!

How is that going to work for most people? Think about it... no savings = running up credit card debt!... no savings = no PITI reserves... no savings = no asset requirements... none of this = no loan

So the builder came out last month and said that they fully expect 20% of the contracts to just be cancelled. Now what would give them that idea??

I don't fault the builder... don't get me wrong. Canyon is beautiful and so are the rest of their communities. But what kind of answer is this to the problem of affordable housing? Why were people so elated at this "affordable" community??

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David A. Podgursky, MBA
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Your Source for Residential and Commercial Mortgage Loans in Florida

Analysis Paralysis

Thanks to Colleen K for inspiring me to continue on her topic but to elaborate enough to make a blog instead of just continue the  thread.

Analysis Paralysis - I know ALL About this especially now that there is so much information!  My wife claims that my business partner and I are two peas in pod (no pun w/my last name) because we're always checkign and double checking and -SHOPPING THINGS TO DEATH.  We've been known to wait on a purchase because heavens forbid we buy this week and miss a sale on the same thing next week. 

I'm only like that on meaningless items which is all the more frustrating for my wife.  Her engagement ring took me no time at all - I designed it after picking the perfect stone.  My car - she didn't even believe it when I a) negotiated the deal I got and b) actually came home in it.  But my laser printer took forever to buy!!

Consumers are constantly bombarded with good and BAD advice.  I believe as professionals it is our duty to help them also learn when to STOP overinforming themselves!!

Paradigm Paralysis - This is the other problem we're seeing and on the other side of the table. Paradigm Paralysis is the epitome of in the box thinking.  You can't see and adapt to change because you're stuck in your status quo.  I said YOUR status quo... Paradigm Paralysis is what helps you get left behind by the market.

The Sellers in South Florida seem to have Paradigm Paralysis.  Sellers take so long to actually decide to sell their homes, they forget that the market changed and believe it is worth what it was last year.  You never see the opposite - when the market is appreciating sellers appreciate their views and prices, but when the prices decline, Sellers don't react and so their homes sit on the market.

The problem gets worse when they finally do get a buyer and an appraiser comes in with a real value and it is lower than contract price!  Appraisers know that lenders will lend on the lower of the sales price or the appraised value and they also know that lenders have internal reviews of most all appraisals. Because of this they have to be careful ... first movers syndrome is not favorable for most!  Meaning - it takes a sale with buyers that are maybe willing to bring extra cash to the table to get the first comp that will bring prices up in an area. 

Sellers don't realize that most BUYERS won't become first movers!  Most buyers know that a low appraisal is leverage!

Which brings me back to my post that Colleen quoted from - Opportunity Cost... the opportunity cost of NOT reducing the house is - more mortgage payments, the inability to move to a new property, possibly having two mortgages simultaneously, getting stale on the market... and Realtors - that means MORE MARKETING COSTS!!!  Sellers hate when their agents come back with a contract and say that it is the best they're going to get when they already sold them on a higher price in the listing contract - that's the Paradigm Paralysis of Sellers.  Now the Realtor needs to explain the opportunity cost!! 

And the opportunity costs are higher for everyone in a market where so many buyers have analysis paralysis and the sellers have paradigm paralysis!!!

It is up to us professionals is to make sure we're not victims of either paralysis... we can only do this by being as dynamic as possible!

 

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David A. Podgursky, MBA
The Mortgage Go To Guy!
Your Source for Residential and Commercial Mortgage Loans in Florida

Florida Commercial Real Estate: Redevelopment of Industrial Zoned Land in South Florida

Who loses most when city planners rezone commercial land in order to make room for more housing? Is it the right of a citizen who moves into an area rich in industrial zoning to complain about trucks and businesses or is this a buyer beware issue?

In Boynton Beach, Florida there is a controversy brewing about the fate of the last vestiges of Industrially Zoned land. Currently, the city planners and county commissioners are investigating an option to rezone some of it and rededicate it for residential development. The Industrial area in question lies just East of I-95 in an area of mass retail and office growth in Palm Beach County, Florida.

Boyton Beach, Florida is fast approaching becoming the largest city in Central Palm Beach County. It lies North of Boca Raton, Florida and South of West Palm Beach, Florida. It has ocean frontage and continues all the way west to the county limits. There is plenty of land in the West... but for whatever reason they have decided to cut out a parcel of the precious eastern industrial land to use for more housing. There are big blocks of space with dying retail or even further east hotly disputed redevelopment areas that would have been better suited for such housing!!

The biggest damage that it does to the area is JOB GROWTH. We're not talking about heavy industrial - we're talking light industrial mixed with office space. Light manufacturing like storm shutters, contractors, windows, doors, siding, plumbing... these are the workers that SUPPORT HOUSING GROWTH!!

If the companies cannot base themselves centrally near their clients then they have to travel further to get to their clients. This puts a strain on costs due to gas and wear and tear on vehicles. It also means that workers don't live as close to work ... these are small condos where offices and administrative personnel work. When the workplace moves, so does the workforce!

But most importantly... when you rezone land - it is SO much easier to get it zoned for residential or anything else than industrial. Industrial is a highly specialized area. It requires transportation arteries that no other zoning needs. It requires access to airports, train rails, ports, highways. It requires its own power grids. It requires environmental specialists. It requires heavier roads for machinery. It also requires far more time to fill up than a residential neighborhood - which requires PATIENCE to get it to capacity... but when it does reach capacity it makes a municipal and county government hum with tax dollars and jobs!!

When you take even one acre away, you could be taking a dozen jobs! When you take 100 acres away - you can take HUNDREDS OF THOUSANDS of tax dollars away... and when you replace it with simple residential - even high density residential, you are NOT replacing the jobs. Environmentalists argue that industrial space is harder on the environment - which is EXACTLY why city planners put it in certain areas and deny rezoning to industrial outside those areas!

What adds insult to injury is when businesses are harassed and sued for running their businesses and inconveniencing the encroaching residential neighborhoods! If you live near an industrial park, you should understand that at 7am a Semi-truck is likely to hit its horn or drive by your townhome. If you're taking your kids to the corner, you're likely to see some trucks hauling materials in the same lane as the school bus driver. And... you're bound to see people that are laborers walking around these areas on their breaks and hitting the local fast food restaurants and tearing out of there at 5pm right when you're trying to get home. It is inevitable.

If you live above a nightclub, you're gonna hear thumpa thumpa into the wee hours....

If you live next to an industrial park, you're gonna have to learn to deal with workers and industrial vehicles!

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David A. Podgursky, MBA
The Mortgage Go To Guy
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Florida Property Tax Update - UGH! The Media is messing it up again!

The PalmBeachPost.com had a new opinion piece on the state of the Florida Property Tax reforms as they stand in news releases coming directly from Tallahassee, Florida.

Here is a link to the article...Property-tax plans cut off from reality.

In this article - Glenn Henderson writes that everyone has lost their mind and that the House and Senate have proposed a scenario which would basically be the end of all state, county and city programs, jobs and infrastructure.

• What has not been recognized is that there are duplicate services and functions of governments all over the State that WILL need to be cut.
  
• What Mr. Henderson has also failed to recognize is that there is a LOT of fluff at the local level that really isn't the State's responsibility to fund.
  

What Mr. Henderson has seemed to downright ignore is that we are NOT a Socialist Government! We are a REPUBLIC and the Federal and State Governments need to be more lean for us to spend our monies in the RIGHT PLACES.

• What difference would it make if we did not cut taxes so that we have the monies for Port St Lucie, Florida to institute Juvenile Justice programs if the Juveniles' families can no longer afford to live in Florida anyway??
  
• What difference would it make if Martin County got the State funded Aquatics complex if no one could afford to live there and to swim!
  
• Who would care if the gas stations along major arteries have hurricane generators if no one lives here that needs that gas??
  

A REPUBLIC...

• A form of Government where the Federal Government provides certain services such as Law Making, Military and Foreign Relations and passes other monies and functions down to the State Governments. The monies come from Federal Taxes.
  
• State Governments have to take care of the State as a Whole and send representation in the form of 2 Senators back to the Federal Government's Senate. The State provides monies and services for Statewide programs... the best current example is State of Emergency services for wildfire fighting and rebuilding the eroded beaches from Sub-Tropical Storm Andrea. Without the rebuilt beaches, the STATE is susceptible to widespread damage from a major Hurricane in the upcoming Hurricane Season. The State must have its own tax system to fund such programs where Federal Monies don't fill in. This is where the vast majority of our property taxes go since we have no State Income Tax
  
• County Governments... in our case, Counties really have a lot of authority. They offer Sheriff services, land development services, parks, schools etc. Rich counties and poor counties are supposed to be getting equitable tax monies from the state so that all citizens get fair services.
  
• City Governments... the trickle down has slowed a lot at this point. Cities are supposed to govern only the most local needs of a city/township. Things like very local development plans, very local law enforcement and planning inside of the bounds of the County's master plan.
  
• Local Governments... these are the lowest form but serve the most specific needs. They can be community associations or minor municipalities. They can be just a citizen formed group that creates a Political Action Committee to represent a demographic area with a unified voice.
  

Under this structure... it is OBVIOUS that TAX CUTS will hurt the lowest common denominator if those upstream don't trim their fat as well.

Where the journalist falls off the horse altogether is:

Even crazier is the fact that the real estate market is taking care of itself, coming back down to the point tax bills will ease up on their own - without government doing a thing.

Ummm... don't we understand that the property tax issue is NOT self correcting like the market? Don't we see that a lot of the reasons the market is in the shape it is would be because of the tax issues? A lot of the people that are running for the hills are doing so because taxes are so high. Reassessing all the property values to bring down taxes is actually something wrapped up in these bills!

I think the State is at a crossroads... they MUST do something... and nothing will ever come without criticism.

The issue that rests on their shoulders right now is this:

• Cities and Counties had HUGE budgets over the past few years... they got spoiled.
• There was huge growth in city and county jobs... people got on board to easy money
• Everyone had the money they needed to fund street art and raise salaries to all city and county employees
• There was a lot of WASTE and important projects were put off
• Important projects are now possibly going to miss funding requests

SURE - the state has to cut the fat. But the Cities and Counties will just have to do the same.

The news is blasting that there were 12,000 jobs lost last quarter in South Florida.... well... why don't they compare that to how many people got their real estate licenses and now are filing for unemployment? Why don't they compare that to the number of developers that moved down here, hired sales teams and left Dodge.

In my eyes smaller government is better. We don't need a Minister of Sidewalk Number Painting getting $60,000 a year that will buy a police car, or books for a school, or a van for a hospice facility.

We do need our taxes to come down... if they don't then there will be a lot of employed people in foreclosure looking at some nicely painted curbsides.

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David A. Podgursky, MBA
The Mortgage Go To Guy
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Florida Property Tax Update - The Compromise is Near!!

After some interesting phone calls from people wanting to know more and learn my opinion about what's going on in Florida Taxes, and some people who didn't get what I was saying, here's some more breaking News from the SunSentinel.com regarding the Florida Property Tax:

House Speaker unveils new approach to property tax relief that could halve bill

This afternoon Florida House Speaker Marco Rubio R-Miami announced that there was a compromise on the table during a special joint session of the Florida House and Senate including the attendance of Governor Charlie Crist.

Mr. Rubio outlined his plan in an Op-Ed piece published in today's Orlando Sentinel Newspaper.

In it, he tells of how lawmakers are taking a different approach to property tax reduction that will offer large exemptions - but not wipe out property tax altogether.

In recent weeks, many people have signed a petition hoping for a total eradication of property taxes... something the House Democrats favored but is wholly unrealistic from any perspective.

Instead, the new plan would reduce all property tax and even offer measures of reductions to business owners and renters. The method that would be used would be a percentage-based exemption system. It appears that this system would be more fair and equitable to different types of property owners - while remaining flexibile enough to remain easy to manage for tax collecting authorities.

While there is yet to be a consensus as to the formulas and the exact percentages offered per property type, House Speaker Rubio offered an example as follows:

• On the home's first $300,000 in just value, 80 percent would be exempt from property taxes.
• On the next $700,000 in just value, 70 percent would be exempt.
• On just value above $1,000,000, 30 percent would be exempt.

Essentially the exemption for a $300,000 house would be $240,000. For a $500,000 house it would be $240,000+$140,000 or $380,000. For a $1,000,000 property it would be $240,000 + $490,000 or $730,000.

This is something that would likely be seen for a Homesteaded property in the state. Businesses, Commercial Property owners, Seasonal Residents, Investors and 2nd Home owners would all have their own unique formulae.

The debate continues as House and Senate leaders now need to decide the exact percentages everyone wants to save per property type.

This plan is a variation of what House Representative David Simmons R-Maitland suggested in an earlier idea. The goal of the plan was to target the hardest hit tax payers - which are currently the homeowners with valued between $200,000 and $500,000.

The other nice effect of this plan is that there is no Sales Tax Swap... an issue much discussed in local and national media. Raising Sales Tax to accomodate lost revenue would not only cut city and state budgets to the core, but also tax lower income citizens and businesses harder than higher income citizens. It also neglects our seasonal residents and foreign nationals.

This bill would cut the overall tax-cut from $50Billion as the House originally offered to something closer to the $34Billion plan of Governor Crist - which is still much higher than the $24Billion planned cut of the Senate.

This plan may offer a choice to taxpayers benefitting under the current Save Our Homes Amendment. If the new plan would raise their taxes they may be offered the choice to stick to their old plan to save money. This will mainly affect those who bought years ago and whose property values increased the most over the past few years. With the expected rollback, to which year we don't know, this will definitely create some questions for such citizens whose property taxes will be much lower based on their long term ownership.

Also addressed was Portability... so tax payers could take a lower tax base with them when they move.

The only evident negative of this idea right now is that it may have to be issued as an amendment - which would mean it would have to wait for a November '08 vote rather than being able to claim Bill status and take effect immediately.

Local governments that have put some capital projects on hold, will be relieved if this is the case as they will still have enough budget to complete some of the most pressing projects like renovating and upgrading hospitals, firehouses and other public facilities still in disrepair from the hurricanes of 2004-2005. It will also help them afford to rebuild the beaches from this past week's mass erosion due to SubTropical storm Andrea.

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David A. Podgursky, MBA
The Mortgage Go To Guy
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida