Hotel financing can be used to build, buy, renovate, or refinance a hotel or motel. The four main types of hotel loans are SBA 7(a) loans, SBA 504 loans, USDA B&I loans, and conventional bank loans. You can typically see rates for hotel financing between 5% to 9%, with repayment terms up to 25 years….
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What is IDX? Definition, Cost, Features & Providers
IDX (internet data exchange) is a connection between the Multiple Listing Service (MLS) and an agent’s website that allows them to list properties for sale on their own webpages. This functionality makes it easy to generate leads from up-to-date listings without agents having to manually add them to their site. Before you can use an…
Borrowing Base: What it is & How to Calculate
Borrowing base is a metric determined by the value of assets you have available to pledge as collateral for a loan. It is equivalent to the maximum loan amount a lender will offer based on a given set of assets. The total asset value is multiplied by the lender’s discount rate to determine the borrowing…
How Long Does a Landlord Have to Fix Something?
The amount of time a landlord has to fix something depends on state, federal and local laws. The timeframe to fix critical items ranges from three to 30 days. However, to avoid further damage and keep happy tenants, landlords should be diligent and fix issues as soon as they occur. Managing landlord repairs responsibilities can…
The No-Code Beginner’s Guide to Responsive Web Design
Responsive web design enables websites to automatically adjust to any screen size and device-type, ensuring the best user experience. They are built using code, but you can also get a responsive web design without any code by using a plugin, or a drag-and-drop site builder. As web browsing from mobile devices accounts for half of…
Commercial Real Estate Loans: The Ultimate Guide
A commercial real estate loan is most commonly used to purchase and/or renovate an owner-occupied commercial property. Commercial real estate loans typically cost 1% to 5% upfront and 5% to 12% per year in interest. Commercial mortgages are used to finance commercial real estate for mixed-use buildings, retail centers, and office buildings. For commercial real…
What Is a Ghostwriter: Definition, Cost, Features & Providers
A ghostwriter creates written content that is published in another person’s name. Hiring a ghostwriter is often a good solution for busy professionals who need help creating books, blogs, articles, and business documents. Ghostwriters average $7,000 to $60,000 for full-length books and $25 to $150 per hour for smaller projects. If you’re interested in hiring…
What a Mortgage Prepayment Penalty Is and Who Has to Pay
Prepayment penalties are fees some lenders charge borrowers who pay off their loans early, refinance, or pay a substantial portion. In 2014, prepayment penalties became restricted from residential loans on owner-occupied property, with some exceptions. Prepayment penalties are sometimes charged as a percent of the loan balance starting at 3% and declining over three years….
Drip Marketing: Ultimate Guide
Drip marketing involves a series of emails or texts sent to subscribers at set intervals that market a business and its products/services. Given the flexibility of drip marketing, all businesses should use it to increase sales. To set up a campaign, define your goals, then use software to design, schedule, and automatically send it. Writing…
What Is Fee Simple?
Fee simple is a legal term describing a form of absolute property ownership with unlimited property rights that can be transferred or inherited as the property owner wishes. This is in contrast to leasehold or other types of interest in property, which may restrict the holder’s rights or responsibilities. What Is Fee Simple Ownership? Fee…
Content Management System: Definition, Cost & Providers
A content management system (CMS) offers tools to design, publish, and manage website content without coding skills. Most include drag-and-drop site builders so designers must only click and drag elements like images to build a webpage. The best systems offer companies an easy, do-it-yourself way to create and update a website without paying developers. What…
Zillow 3D Tour Ultimate Guide: Definition, Features & How-To
Zillow 3D Home Tour is a free app that allows agents to create walk-through property tours for buyers. Agents can use their smartphone to take tour photos, generate seamless 3D tours with the app, and upload these tours to their Zillow profile, website, or social media profile to generate buyer leads—all for free. If you’re…