Building Your Own Outside Fireplace With An Outdoor Fireplace Kit

It’s always good to have a fire for warmth when winter rolls around. The newest pattern among new homeowners is having one outside, but it’s too costly to have someone else make it for you. DIY outside fireplaces are such an easy project that it may be performed by anybody willing to dig in and do the work. There are two ways to do this: build one from scratch or purchase a backyard Fireplace kit. Either approach, you’ll at the very least must get cement, stones, decorative tiles, and a fireplace screen to make one yourself.

1. Placement and Laws

Choose a spot that is far enough away your house and anything that may catch on fire easily. You also have to verify your local legal guidelines concerning home improvement to see when you not only can, but should you need a building permit to do such a thing.

2. Choosing the Right Fireplace

The easiest method to make one is to purchase an outdoor fireplace kit. These don’t come with all the material that you’ll need, however it should save you time and energy. Nonetheless, you can also find plans to make one from scratch for those who choose.

3. Build a Foundation

After choosing the right spot, clear away whatever debris is there and create a foundation utilizing concrete, cinder blocks, or whatever you want to use on your DIY outside fireplace.

4. Putting in Your Fireplace

No matter whether you’re following plans to make your own or the directions from the kit, begin assembling your fireplace. The difference between this and one for inside your house is the lack of a damper. It’s best to build the chimney as high as you possibly can and the opening a bit lower to prevent wind from swooping down. That can both make it troublesome to begin a fire and even blow sizzling embers out of the fireplace.

5. Try It Out

Before making it look nice, start a fire inside to make sure every little thing is to your liking. This may help you decide if you want to make the fire place taller or fix the inside of the chimney to let the smoke out from the top.

6. Enhance your Fireplace

This is the place the work stops and the fun begins. After finishing your DIY outside Fireplace, embellish it to your specification and/or let the paint dry (should you chose to use some).

That is all you have to do to make your individual outdoor fireplace. You may purchase plans and outside fireplace kits at your local home improvement store and online as well. The kits cost approximately $1,000 and the plans to make your own can be found online from free to around $30. Creating your own fireplace outside will not only put a smile on your face and your loved ones’s, but it also provides you a cause to spend extra time outside. Even if you don’t have a fire going

Benefits that made Condominiums Popular

Condominiums have been considered as one of the most popular types of housing in the Philippines today, and part of what made these types of housings popular is because of its many benefits that can conform to the needs of many modern Filipinos.

First Benefit: Location The first benefit that made condominiums popular in the Philippine market is because of its location in which most of these types of modern housings are found in business and commercial districts, such as the many manila condominiums today.

Because of its location, residents can easily access their workplaces and offices from their homes, allowing them to avoid the usual hassles of morning rush hour. And although these types of modern housings are found in some of the busiest districts in the country, condominiums can still offer the peace and privacy that people are looking for in a home.

Second Benefit: Maintainability and Security In addition to its accessibility to business and commercial districts, other reasons why condominiums had gained a lot of popularity is because of its own maintenance and security personnel.

Although other modern types of housings in the country today are known to offer the same amenity, such as apartment buildings, condominiums were considered as the first types of housing that offered such benefits to its residents. Because of this benefit, residents are assured of their safety within the condominium while assuring them that their homes are properly maintained.

Third Benefit: Resort Facilities Part of what made condominiums even more popular in the Philippine market is because of its amenities. According to many real estate experts, condominiums are the only types of housing in business and commercial district that can offer resort facilities such as swimming pools, gyms, and sports complexes. Because of these benefits, condominiums became even more popular and unique in the market. And it was also because of this that residents were able to relieve their stresses from work by swimming, sports, and through working out.

Fourth Benefit: Flexibility Another reason why condominiums had gained a lot of popularity, particularly in today’s modern trends, is because of its flexiblity. Other than condominiums in business and commercial districts, there are also other types of condo in Philippines which are found around the outskirts of Metro Manila, and even in the provinces.

These types of condominiums are known as condominium complexes and part of what made these popular is because of its family-oriented environment as well as facilities, such as recreational parks and playgrounds.

Condominiums have been considered as one of the most popular types of housing in the Philippines today, and part of what made these types of housings popular is because of its many benefits that can conform to the needs of many modern Filipinos.

First Benefit: Location The first benefit that made condominiums popular in the Philippine market is because of its location in which most of these types of modern housings are found in business and commercial districts, such as the many manila condominiums today.

Because of its location, residents can easily access their workplaces and offices from their homes, allowing them to avoid the usual hassles of morning rush hour. And although these types of modern housings are found in some of the busiest districts in the country, condominiums can still offer the peace and privacy that people are looking for in a home.

Second Benefit: Maintainability and Security In addition to its accessibility to business and commercial districts, other reasons why condominiums had gained a lot of popularity is because of its own maintenance and security personnel.

Although other modern types of housings in the country today are known to offer the same amenity, such as apartment buildings, condominiums were considered as the first types of housing that offered such benefits to its residents. Because of this benefit, residents are assured of their safety within the condominium while assuring them that their homes are properly maintained.

Third Benefit: Resort Facilities Part of what made condominiums even more popular in the Philippine market is because of its amenities. According to many real estate experts, condominiums are the only types of housing in business and commercial district that can offer resort facilities such as swimming pools, gyms, and sports complexes. Because of these benefits, condominiums became even more popular and unique in the market. And it was also because of this that residents were able to relieve their stresses from work by swimming, sports, and through working out.

Fourth Benefit: Flexibility Another reason why condominiums had gained a lot of popularity, particularly in today’s modern trends, is because of its flexiblity. Other than condominiums in business and commercial districts, there are also other types of condo in Philippines which are found around the outskirts of Metro Manila, and even in the provinces.

These types of condominiums are known as condominium complexes and part of what made these popular is because of its family-oriented environment as well as facilities, such as recreational parks and playgrounds.

Manesar Real Estate Market

Manesar is one of the fastest growing townships in India and is a part of Delhi NCR. After Gurgaon, Manesar has caught the eye of Haryana Government and has become the new centre of developments.

Many eminent real estate developers are planning to invest in Gurgaon-Manesar Expressway. Builders like Unitech, Raheja, Vatika, DLF and various others have bought land in Manesar to create townships.

The upcoming projects like Expressway to Jaipur and SEZs are bolstering up the value of property in Manesar. These projects are undertaken by Reliance, DLF, Unitech and Raheja and are helping in boosting the property prices in Manesar already. In fact, according to survey held recently, Manesar ranked among top 3 choices of investors for property investment.

Manesar, from a small village is soon scoring its place among major outsourcing hubs in India. This transformation could happen due to the rising needs of industrial and commercial sectors. IMT (Industrial Model Township) is the main attraction of Manesar for industrial buyers as it now houses more than 500 industrial units.

Upcoming investment plans in Manesar:

Large numbers of corporate leaders like Nippon, Baxter, Stanley, Toyota, Mitsubishi, etc have setup their business units in Manesar.

With already being a home to largest car and motorcycle manufacturers namely Maruti Udyog and Hero Honda, another corporate honcho, Suzuki is also coming up with plans to invest Rs. 2500 crores in Manesar.

Also, Japanese majors and other multinational companies like Samsung Telecommunications will soon establish a unit worth Rs. 850 crores in Manesar to commence the commercial production of their products.

Next in the pipeline are Honda Motorcycles and Scooters India with a plan of pumping in Rs. 300 crores in its plant in Manesar to improve its capacity.

As happens with every developing city that the demand for residential property is upped due to commercialization, the trend is well followed by Manesar too. The professionals employed by the multinationals generated the need for housing and apartment accommodation. The rapid development of both commercial and residential sectors in Manesar has made it extremely popular among property developers as well as property buyers. The boom in real estate market is at its peak and this is what makes of property in Manesar sell like hotcakes.

An industrial and commercial hub:

Manesar is now known as an industrial and commercial hub of the city and has long ago shredded its image of a village. Earlier, no one had ever thought that a small city like Manesar could hold such potential for real estate market. There could be many reasons for this metamorphosis:
When Delhi became congested, leading companies moved to nearby areas around the national capital. It went on to develop Gurgaon property market by carrying their operations there and when again it was exploited enough, they moved further to Manesar. Therefore, hefty investments from various MNCs and setting up of major establishments in the city led to its conversion into New Gurgaon as called by many over the past few years.

Hike in property prices:

The property rates have doubled and even trebled in some areas in Manesar and have jumped from Rs. 20-25 lakhs per acre to Rs. 1.10-1.40 crores per acre. In just few months, commercial property prices have hiked by whole 35-60% and residential property by over 35%.

Infrastructural Developments:

The construction of 135 km long Kundli-Manesar-Palwal (KMP) Expressway has further augmented the property prices in Manesar Property. This would be the longest expressway of India and the most expensive too.

Real Estate projects:

Corporate Tower
It is expected to fulfill business requirements of shops, offices, etc.

Commercial Towns
HSIIDC would develop 12 commercial towns.

Townships
DLF City is planning to develop a huge township while Vatika would undertake construction of plots and villas.

Karma Lakelands
Unitech would bring in Ultra Luxury villas with an 18 Hole Golf course.

Manesar is seen as the next generation IT-ITes destination and is conveniently located. It has become one of the most preferred places to invest money in for both buyers and investors.

Steps To Size, Design & Install Glass Block Showers

Understanding how to develop the right size shower base and shower walls with glass blocks does not need to be some mysterious process. If youll follow the steps in this article youll have an easy to clean, structurally sound, and unique shower you can enjoy in your home or commercial property for years to come.

Step 1) What type of glass block shower do you want?

There are basically two types of showers you can use – a shower without a door, and a shower with a door. Heres an overview of where to use both:

A)Showers without a door (walk in and roll in showers) Door-less showers have become hot in bathroom design over the last 5 years. The two most popular types of these showers are walk in and roll in showers. The biggest advantage of walk in showers is you can eliminate the cost of the shower door and having to bend over to clean around the doors framing system. The roll in shower also does not have a door, but also eliminates the curb around the base that someone has to step over to get into the shower. This makes the shower much more accessible to those with special needs. The roll in shower base is gradually sloped in towards the drain. The biggest disadvantages of the doorless showers is their bases (or platforms) need to be sized larger.

B)Showers with a door (neo angle or corner showers) Most showers have doors to prevent water from splashing out. A popular type of shower enclosure is a neo angle variety that is placed in the corner of a bathroom to conserve space. The advantage of a shower enclosure system with a door is that it can fit into tighter spaces (these showers can be as small as 32 or 36).

Step 2) What type of glass block shower base do you want? How do you size this base and design it out at your project site?

There are two generic types of shower bases available for block (1) the preformed base and (2) the custom concrete base.

The preformed base is created and sized before it is brought to the job site and can be made out of acrylic, cultured marble, or other solid surface materials. It is generally thought to cost less than a custom base, which is often true, but not always. The biggest advantage of these types of systems is they are built as one solid unit to minimize the concern about water leakage through the base. The biggest disadvantage is their size cannot be adjusted at the job site. Pittsburgh Corning makes an acrylic right or left hand entry walk in glass block shower base measuring 72 x 51, a Neo Angle shower measuring 51 x 51, a Square corner shower measuring 48 x 48 and even an acrylic shower base 60 x 32 that can be used to convert a small existing tub space into a new contemporary shower!

The custom concrete or mud set pan base is sized at the new home, remodeling, or commercial building site. Since glass block cannot be cut like tile, youll need to use layout cards that correspond to the size of the block units to make sure the custom base youll make will match up with the specific block sizes for your design. Most of the layout cards are approximately 4 wide (3 7/8 is the exact size) to accommodate for the most common thickness of block used for showers. The other base thickness is 3 1/8 wide, although design options with this thickness series are more limited.

Step 3) Choosing the right sizes, shapes, and colors to make your glass block shower cool and unique.

There are a wide selection of block sizes, patterns, shapes, colors and even artistically designed murals available for your shower. Heres a brief overview of your options:

oSizes and thicknesses of glass blocks for showers Glass masonry units are made is both metric and American sizes. Most of the blocks available in the United States are American sized. The American sized blocks are available in 4 x 8, 6 x 6, 6 x 8, 8 x 8, and 12 x 12. Specialty shapes can help you turn corners, make 45 degree neo angle showers, create rounded or radius walls if youre looking to make a walk in or roll in shower, or finish off the end of the shower wall with a smooth bullnose look. The blocks have nominal sizes meaning the actual size of the block units is smaller allowing for a mortar joint to adhere the block to one another (an 8 x 8 block actually measures 7 x 7 ). The blocks for showers are 3 and 4 thick. Thinner block (3 1/8) are more cost effective, but shower design options are much more limited in this thickness of block.

oPatterns, designs and colored glass blocks Blocks come in a multitude of patterns providing different levels of privacy, style, and design options. The block are now available in standard and custom colors, tints, and artistically decorated murals to match any interior design style. Check out a comprehensive block web site to see the possibilities.

Step 4) How tall should you make your glass block shower? What do you need to do to make it structurally sound? Most block showers are built on a curb (with the exception of the roll in shower) which is 4 to 5 in height. Since many shower heads are placed 84 above the finished floor consider building your glass block wall 80 tall (this will make the size of your glass block wall + the size of your base equal to the height of your shower head). To make the glass shower walls structurally sound they should be tied into side walls with anchors every third coursing of block (usually this is every 24).

Step 5) Dont worry about any of the first 4 steps and call a glass block shower supplier and installation professional If you really dont want to figure out what size, shape, and shower base is best call a block specialty company who offers design, supply and installation services. This type of company will usually come to your home or business (without a charge), measure your shower space, figure out the possible types of bases and showers for you, and install it with a guarantee.

The Truth About Motorcycle Clubs Or Groups

Most of the old motorcycle movies involve motorcycle clubs in some way. In The Wild One, Marlon Brando played Johnny, the leader of the Black Rebels Motorcycle Club (BRMC). The image portrayed on the screen of the average motorcycle club was often not flattering. To the average non-motorcyclist today, a motorcycle club is often synonymous with a motorcycle gang. My experience with motorcycle clubs and other motorcycle groups is quite the opposite.

Motorcycle clubs (also known as MCs or M/Cs) have been around since the introduction of the motorcycle. If you visit any motorcycle museum, look for the old pictures of motorcycle clubs hanging on the walls.

Of course, any club is just a group of people who band together for support and fellowship whether it’s a stitching club, a fishing club, or a motorcycle club. The Gold Wing Road Riders Association (GWRRA) , the Harley Owners Group (H.O.G.), the BMW Motorcycle Owners of America (BMWMOA), the Women on Wheels (W.O.W.), the Motor Maids, and the Women in the Wind (W.I.T.W.) are each national organizations that have local motorcycle club, association, or other group chapters.

Club members often wear what is referred to as “colors,” a vest or patch or hat that displays an emblem and other colors that are used by the club to distinguish itself from other clubs.

Some clubs are independent such as the Spokes-Women MC in New Jersey. There are even Internet clubs such as the Internet BMW Riders. There are some clubs that have the financial wherewithal to have their own club houses such as the Dawn Patrol, a club established in New Jersey in 1937 and the Jackpine Gypsies club formed in 1936 in Sturgis, SD. The Jackpine Gypsies started the Sturgis Rally in South Dakota which will be celebrating its 68th anniversary in 2008.

Of course, there are motorcycle clubs, motorcycle riding clubs, motorcycle associations with local chapters, and other motorcycle groups. Each has special characteristics, requirements, and functions that would take a whole book to describe. That’s not the intent of this article.

Clubs serve a very useful purpose and form a social bonding for their members. Some clubs exist to further a particular make and model such as the Honda PC-800 club, the GWRRA, or the Cushman Club of America. Some clubs exist to champion a particular cause such as the Bikers Against Child Abuse.
Some clubs exist for only part of the year such as the Polar Bear Grand Tour that rides throughout the winter in the NJ, NY, PA, and DE area of the USA.

There’s a motorcycle club out there to fit almost anyone who wants to be part of a motorcycling community. Of course, many motorcyclists never join clubs and enjoy the freedom of solo or small group riding with buddies. However, it’s hard to go out on a Sunday afternoon and not see groups of motorcyclists riding down almost any road in formation. Clubs are here to stay and will gain more importance as more people get into the sport.

The women’s clubs seem to be growing the fastest these days as more and more women are completing the Motorcycle Safety Foundation (MSF) courses, gaining their motorcycle licenses, and buying that first bike. Some women riders are attracted to the women’s clubs for support and fellowship as they gain proficiency in riding.

We at Southern Bike Night support motorcycle clubs immensely. They are great men and women.

As more people get on the Internet looking for information about motorcycling, they find out about the clubs that have Web sites and gravitate to them. In fact, one of the biggest factors in the growth of club membership these days is the Internet.

The fact that a motorcycle club was founded in 1937, doesn’t guarantee that the average rider evens knows that it exists — that is, until the Internet came along and allowed people to find first-hand information about many of these clubs from their Web sites.

We are entering a new era of increased participation in motorcycling. The motorcycle clubs will serve to manage much of this growth and channel it into worthwhile charitable projects as well as provide a way for new riders to grow in their motorcycling experiences. Let’s help to further this growth by making the surfing motorcyclists aware that your club exists.

We want to hear from you and your club. Our TV show will be traveling the country and filming all throughout the year. Drop us a line and let us help support you. Remember, keep the rubber side down.

Home Building Tips

Having your home built is an exciting time no matter whether it is a basic home or one chosen from a range of luxury homes. It is easy to get carried away by the fancy things that can be seen such as fittings and furnishing and not pay much attention to those things that are invisible when the home is finished.

But home builders in Perth know that things like the foundations and structure are the most important things in building a home. Custom home builders understand that if these are not done correctly, then no amount of plush carpeting or fancy wallpaper will make that home a good one.

Building a home involves a massive amount of money (all paid by the home owner) and so you must feel satisfied with the construction of your home. You have a legal right to expect a good quality home that is soundly constructed. And just because you signed on the dotted line doesn’t mean that a few things cannot be changed. However the watchword here is communication – and keeping a list of things added or deleted. You will have to pay a bit extra for added things, but the reverse is true if you delete them.

Costs should be kept in perspective. It may not cost as much as you think to change those bricks to some you like better. Even if they cost something like $10 per hundred extra, the whole cost won’t work out that much more overall. What is more likely to cost the earth is if you want something unique or far out, new technology or using untested materials.

Another thing you might want to look at is add-on features such as extra rooms or another garage. Some people may consider leaving room to add on things at a later stage, but it might end up being cheaper to have them added on during the building stage. At least you will have all the building over and done with rather having to endure noise and building dust at a later stage. And how much better would your life be to have that extra space right now?

Condo Insurance Cover Water Damage Surrey Flood Restoration

Condominium insurance covers most water damage similar to home insurance. It covers water damage restoration for the damage caused by internal sources such as burst pipes, water leaks, and the like. For external sources such as floods you might get another type of insurance. However, you might be wondering if that would be covered under your strata insurance. In order to enlighten us, we will discuss the differences between condominium insurance and strata insurance. Afterwards, we will discuss how water damage can be covered by these two types of policies.

Strata insurance covers the building exterior and common property. Common property refers to the areas for the use of all the lot owners in the condominium, such as the stairwells, pathways, recreational facilities, and the like. Condominium insurance on the other hand, will cover your furniture and the upgrades that have been made on your condo since it was originally built. So what if water damages your walls, your carpets, and your floor? Which insurance covers what?

Water damage insurance coverage for this type of situation will depend on a number of factors. The first question you have to ask is: what was damaged? The second question is: is it your fault or not? The reason for you to ask these questions is because if it was your fault, then the water damage restoration will be charged to your condominium insurance if you have any. If not, then strata will charge costs to you personally. If it is not your fault, then water damage restoration will be charged to your insurance and then they will collect from the strata afterwards. In either case, you must have condo insurance first before you can have strata cover the restoration.

So if water damaged your walls, carpets and subfloor, and you were not at fault, which insurance would cover what? For the broken pipe, walls and subfloor, the condominium insurance will cover the restoration cost. Afterwards, the strata company will have an obligation to your insurance company to pay them for the costs of the restoration. For the new carpet that was installed after the original construction of your home, your condominium insurance alone will cover it. If you are at fault however, everything is covered by your condominium insurance. If you don’t have one, then the money will have to come out of your own pocket.

As you can see, having condominium insurance is better than just having strata insurance alone. Water damage restoration can be devastating to your property but having it insured gives you peace-of-mind that you are prepared come what may.

A Brief Note On Noida Real Estate Scenario

Known to be the largest planned industrial township of Asia, Noida witnesses an ever expanding real estate market. The town is an emerging destination for foreign direct investments. The projected development of civil society has initiated rapid construction of state-of-the-art housing and commercial complexes in the city.

Due to the sealing drive against the unauthorized establishment of commercial businesses in Delhi, Noida authority has sold around 304.5 acre plots worth Rs 2,557 crore to five of the top notch real estate developers. The following are some information on the latest activities in the Noida real estate arena.

Noida Real Estate Scenario

The plots that are alloted to the five developers by the Noida development authority are in sectors 112, 113, 115, 116, 117 and 118. Unitech has been alloted with two plots 71 and 54 acres at the cost of Rs 1,050 crore. For 72 acres, Parsvnath Developers has paid a sum of Rs 602 crores, Omaxe has paid Rs 307 core for 37 acres, Ambience has paid Rs 323 crore for 37.5 acres and IVCRL has paid Rs 274 crore for 33 acres.

According to Rakesh Bahadur, chairman Noida Authority, the demand for office and commercial spaces in Noida. MNCs and big corporate houses are gradually expanding their bases in the city.

According to real estate experts, the insufficient availability of land in Delhi has caused the development of real estate in the suburbs. Noida scores over all other suburbs like Gurgaon and Faridabad due to the advantage of better connectivity. Noida is well connected to Delhi through the toll bridge and the expressways.

Not only good connectivity, the well developed social infrastructure of the city is far better than the rest of NCR. Hence, the future prospects of Noida are really fine.

The price for residential real estate in the newly developed areas varies from Rs 25,000 per sq m to Rs 50,000 per sq m, while the reserved parking for grouped housing is Rs 3,000 to Rs 4,000 per sq ft. while the price ranges from Rs 50,000 to Rs 75,000 per sq yrd. in case of commercial spaces.

With the completion of the Taj Express Way by 2013, the real estate prices are estimated to be increasing even further.

Negotiate Your Way To Lower Dallas Real Estate Broker Fees

In this lagging economy, everyone is trying to save money. For this reason, many advertisers are appealing to consumers in new ways which make them really think about how they are spending their hard-earned money. Think of Wal-Marts new tagline, for example: Save Money. Live Better. We all want our dollar to stretch as far as it can go. It is no different from small purchases like groceries to big expenses such as the purchase of a home. When hiring a real estate agent or broker, do not be afraid to negotiate fees to save money on the transaction. Many brokers fees are not written in stone and they will be willing to come down a little for the sake of having your business.

Interesting Information from Consumer Reports

An actual study released this month by Consumer Reports turned up some interesting information. According to the study, seventy one percent of buyers who tried to negotiate Dallas Real Estate broker fees were successful. One of the most interesting facts however, is that less than half of buyers overall even tried to negotiate those fees. The study also showed that buyer satisfaction was no different whether they paid a smaller percentage, such as three percent, than those who paid around six percent to their brokers. In fact, the study indicated that home buyers who did pay a higher percentage would be more prone to experiencing feelings of regret about their experience.

Which Dallas Real Estate Brokers Are More Likely to Negotiate Fees?

This is a good question to ask when you decide to hire a Dallas real estate agent or broker. It is more likely for an independent agent or broker to be open to fee negotiation than one who works for a large company. This is because independent agents and brokers keep their entire commission, while those who work for bigger companies must share their commission. That doesnt mean that agents or brokers who work for a company such as Re/Max have fees that are set in stone. Sometimes just by asking, you can negotiate a lower fee.

Negotiating Fees Works for both Buyers and Sellers

Sellers can also negotiate fees with Dallas real estate brokers. Their best chance however, is to have a property to sell which is in great condition and one that is priced aggressively to sell quickly. A broker will be much happier to negotiate when a home can sell within one month instead of within six months. When the real estate market is not what it used to be, those in the business need to be flexible to continue to make money. This is one of the reasons that some brokers are willing to lower their fees when asked by a home seller.

The bottom line is, do not be afraid to ask. Buying a home is a costly process where you will definitely want to try to save wherever possible. If selling a home, you want to make sure to keep as much money from the sale as possible. A good broker or agent is one that is flexible and willing to work with you on terms that you both can agree to.

Commercial Mortgage Loans

Commercial mortgage loans are integral to the financing of commercial real estate projects. They represent debt secured by the potential or current property owner on a recourse or non-recourse bases to finance the purchase or refinance/cash out the property. Adequate debt acquired at attractive interest rates and terms can increase the investment yield of commercial real estate while simultaneously decreasing the investors equity in the project, reducing risk and allowing more liquidity of investor capital for future launch. Finding a lending source which is favorable to the specific project is crucial and making sure the cost of debt is less than the investment yield to generate a profit, a necessity.

The process of getting a commercial mortgage loan entails the lender qualifying the property and the borrower to determine financial strength and capacity to pay back the debt. Lenders are not in the business of taking properties for payment delinquency, but generating an attractive interest on their money deployed to investors for their investment activities. This qualifying process is termed underwriting and the financial viability of the project is scrutinized including the potential gross income, down to the effective gross income and the property expenses are scrutinized including all recurring expenses to derive a representative net operating income. The capacity of the real estate to support the debt is important to lenders, it is analyzed and the debt service coverage ratio resulting from the NOI/debt service is calculated to determine if it meets the minimum acceptable level; 1.20:1 is the minimum acceptable for multifamily and 1.25:1 for other commercial properties; however, this can change depending on how the loan is priced and the investor profile variables which increases or decreased the risk quotient attributed to the project.

The borrowers financial strength, investor experience and credit profile are relevant to the underwriting process, for both the property and borrower are considered. The borrowers net worth, other commercial real estate holdings, liquidity, etc are factored into the decision making in determining if the funding request is approved, disapproved or lender modified because of associative risk. It is the lenders objective to mitigate risk to within acceptable parameters while charging a risk premium, if necessary, and still fund the loan when all underwriting criteria are met. Commercial mortgage loans represent a viable means for borrowers to leverage their capital supplemented by debt secured elsewhere to fund acquisitions and refinancing. When the appropriate leverage is used it creates a fertile environment for profitability. However, over leverage can erode all profits. Lenders usually request property and borrowers financials to facilitate deciding if the request is fundable and how to price the loan. Transparency on the part of the borrower expedites the process and helps the creditability and borrower-lender relationship. Remember lenders are in the business of loaning money, but they need a certain level of assurance of repayment of loaned funds. Whatever borrowers can do to produce this assurance will help to get loan approval.