5 Myths of Real Estate Auctions Winston Rowe and Associates



5 Myths of Real Estate Auctions

Whether it’s purchasing art, classic cars or real estate, auctions have become an attractive platform for investors. However, there are several reasons why some investors have avoided buying both distressed and non-distressed real estate through auctions. Some of these reasons are more mythological than warranted which is why Auction.com is finally dispelling the five common myths about the auction industry.

Myth #1: An auction is the avenue of last resort and only for distressed properties

Like art, jewelry and other high end items, auctions work for stabilized and opportunistic properties in the most desirable markets. True, the platform’s success late in the default cycle is certainly unique and highly valuable to banks and lenders. However, Auction.com is having success in the Class A market, which is realizing that using auctions as a first resort can be very effective.

Myth #2: Buying at auction means buying “sight-unseen”

Just like a conventional process, Auction.com offers full due diligence and physical inspections in the form of a fully secure, online data vault that provides comprehensive information, as well as managed property tours.

Myth #3: There are hidden fees and non-refundable deposits

Let’s be clear, there is never a cost to participate on Auction.com. The only fees are paid at the time of closing. The required deposit is immediately refundable for any participant that doesn’t win the auction. The deposit serves to protect the process and 100 percent legitimizes the bidder pool.

Myth #4: It’s rigged. I’m bidding against the house

This myth typically refers to how auction companies support bidding to ensure the price hits the reserve, which is the minimum price the seller will accept. At Auction.com, the house never places a bid that will cause the asset to hit reserve and never bids after hitting reserve. The bidding is 100 percent in the bidders’ hands at that point.

Myth #5: I need to be tech savvy to bid in an online auction

If you have a computer and can click a mouse, you can bid in an online auction. Auction.com experts are available to guide you through the process and prevent any technical issues you may encounter. After all, it’s in the company’s best interest to make the online auction platform easy to use and universally accessible.

Aggressive National Apartment Building Financing


Apartment Loan programs from Winston Rowe & Associates encompasses all aspects of multifamily apartment financing.  Whether you are refinancing a stabilized apartment building or acquiring & developing a new apartment complex, their aggressive apartment loans have helped investors across the country achieve their apartment financing goals with larger apartment loans, lower DCRs and faster closings.

Prospective clients with questions concerning their apartment building transactional funding programs can contact Winston Rowe & Associates at 248-246-2243 or visit them on line at http://www.winstonrowe.com

Winston Rowe & Associates structures apartment and multifamily financing solutions utilizing a broad spectrum of traditional and non-traditional capital sources.

They are not tied down by whatever the flavor of the moment is on Wall Street, and can get deals financed which the CMBS world can’t or won’t do, especially in the current structured finance market.

Their primary goal is to be your source for the financing of apartment loans, without up front or advance fees. Winston Rowe & Associates has creative solutions for commercial real estate investors across the nation.

Prospective clients that need to refinance an existing property or you need purchase money – they can help structure the terms that most suitably meets your needs.

Apartment Building Financing Features Available:

No Upfront or Advance Fees
Loan Amount From $2,000,000.
Transaction Funded In 30 Days With Complete Submission
As low as 1.10 DSCR available in some cases
No Lockout & No Prepayment Options Available
Interest Only Option
ARM Programs Available
Non-Recourse Loans Available
Low Fixed Rates ranging on 5-10 Year loans with 30 Year amortized terms.
Conduit Fixed-Rate and Floating-Rate Loans
Fannie Mae and Freddie Mac Loans
Market Rents as NOI

Winston Rowe & Associates understands that in this business very few funding requests will fit neatly in a box and therefore they always look forward to working with clients to identify a unique deal structure that can benefit from their apartment building transactional financing programs.

They also have an excellent knowledge based free investor resource for commercial real estate investing, valuation and analysis located at:





10 Best Cities for Retirees to Rent Homes or Apartments


For retirees looking for a place to settle down more permanently, it pays to find a destination that meets the needs of this new lifestyle. Realizing rental needs change as people get older, Apartments.com evaluated cities across the country on a variety of key lifestyle factors:

High inventory of affordable apartments
Thriving economy
High retirement population
Flexible leasing options for short or long stays

The results, the 2013 “Top 10 Cities for Snowbirds and Retirees, places Austin, Texas at the top of the list, making it the number one hot spot for both snowbirds waiting out winter back home and those in it for the long haul, looking for a destination to lay down their roots and enjoy their retirement.

Average rent for a 2 bedroom apartment in Austin will run around $1,200.

The remaining cities on the retiree’s top 10 list, in order, include:

Las Vegas and Henderson, Nevada
Scottsdale, Arizona
San Antonio, Texas
Phoenix, Arizona
Dallas, Texas
Jacksonville, Florida
Plano, Texas
Overland Park, Kansas
Mesa, Arizona

Winston Rowe & Associates Completes $1,000,000 Apartment Building Loan


Winston Rowe & Associates a national no upfront fee commercial real estate financier is pleased to announce the financing of a $1,000,000 129 unit apartment complex in Vicksburg, MS.

This was an extremely challenging transaction to complete their clients business declined when the recession hit, business plummeted, the personal credit score dropped, and owed back taxes and the apartment building suffered significant deferred maintenance.

Once the borrower was able to stop the free fall, the client’s financial situation was such that he was unable to find financing through traditional lenders.

At first glance, a half-vacant apartment building in Mississippi, with back property taxes and whose owner had less than ideal credit might not seem appealing to most lenders, but Winston Rowe & Associates was able to look past the flaws and develop a custom solution for their client.

Despite being half-vacant, the property had enough equity to provide an adequate loan to pay off the delinquent taxes, rehab the vacant units, and pay off the existing mortgage. By keeping a low loan-to-value, their capital source was willing to take a chance on this loan, despite the borrower’s poor credit.

Winston Rowe & Associates is always here to help and understands that many good borrowers were hurt by the recession.

For more information about Winston Rowe & Associates you can check us out online at http://www.winstonrowe.com or give us a call at 248-246-2243. A principal is always willing to speak with prospective clients.

Top Commercial Real Estate Blogs Winston Rowe & Associates



The Original Top 35 Real Estate Blogs list was compiled in August 2006, and has generated almost 150,000 views since then (as of 6/30/2013). This post has been enormously popular, but as you’ll see below, time has not been kind to the real estate blogging space. Many of the early (and in my opinion, best) bloggers have fallen off, lost focus, or moved on. At the time of this writing, only 10 of the original 35 top real estate blogs are still active (updated at least once a week); I’ve kept a running tally of the removal of those that have fallen off to keep some kind of record of the change in the real estate blogging scene.

That said, due to the popularity of this post, I believe that it is my responsibility to not only remove blogs that aren’t cutting it, but to also keep up with the times and highlight new blogs. I’ve broken this article up into three sections: the new top real estate blogs list, the history of the list as well as the original blog post with top 35 list.

While there are pundits and others out there have argued that real estate blogging is dead, I believe that there is absolutely still a huge demand for these blogs, and I know that those people and companies that are active and focused with their blogging are reaping the benefits.

The Top Real Estate Blogs (active list)

Note: The blogs below are active, focused, living communities that don’t charge for access. We will not announce changes to this list if they need to be made, but will simply add or remove new sites if it needs to happen.

Commercial Real Estate Blogs
Ashworth Partners Blog
A Student of the Real Estate Game
Llenrock Blog
The Tenant Advisor

Corporate Blogs
MemphisInvest Blog
Movoto Blog
Redfin Blog
Zillow Blog

Housing / Economy / Data
Calculated Risk
Crains Real Estate

Curbed NY
Irvine Housing Blog
The Real Deal NY
Sacramento Appraisal Blog
The Silver Fern

Local Real Estate News
Lansner on Real Estate

Real Estate Investing
Bawldguy Talking
The BiggerPockets Blog
Flipping Junkie
Flipping Smart

Real Estate Technology & Marketing
100Watt Blog
Inman Next
The Notorious Rob

How to Subdivide A House Into A Multifamily Unit

How to Subdivide A House Into A Multifamily Unit

Winston Rowe & Associates is an advisory and due diligence firm that specializing in apartment, multifamily and commercial financing, without upfront or advice fees.

They have prepared this news article about multifamily investing.


A current popular trend is to take a single-family dwelling and convert it into a multifamily unit. There are many reasons for why this is done. Most often, the landlord sees extra dollar signs when it comes to subdividing a property where there can be multiple tenants.

Eliminates Unoccupied Homes:

In many parts of the country, affluent people have purchased or have had built larger homes. As the neighborhoods grew older, or the city had grown, the rich would sell their homes and move someplace else. By subdividing a larger, more expensive home, it allows people who may not be able to afford to live in such a large house to be able to share apartments within it.

Providing Apartments During Housing Shortages:

A reason landlords subdivide single-family dwellings is to provide apartments during periodic housing shortages. In some areas, housing shortages exist and young families and single people are unable to find affordable housing. A large single-family home that would normally be vacant could provide acceptable housing for people who need it.


Before you take that first step toward subdividing a home into apartments, you will need to check the zoning regulations in your area to make certain that what you are doing is legal in your municipality.

Multifamily financing from Winston Rowe and Associates:

No Upfront or advance fees

Purchase, refinance and cash out

Capital deployment start at $500 thousand with no upper limit

National Coverage

Hard Money, CMBS, Hedge Funds, Private Capital and Agency financing available

The goal at Winston Rowe & Associates is to add value to client’s acquisition or refinance by offering a wide range of financing solutions and direct access to top national, regional, and local retail banks, hedge funds and private capital lenders.

When you call Winston Rowe & Associates, a principal is always available to speak with prospective clients.

They can be contacted at 248-246-2243 or check them out on line at http://www.winstonrowe.com

No Upfront Fee Hard Money Loans Explained Winston Rowe And Associates


Contact Winston Rowe and Associates


Winston Rowe & Associates is a unique type of commercial real estate finance firm, they do not charge any upfront fees like their competitors to review or perform due diligence for your transaction, because of this savvy investors have been turning to them for their financing needs.

If you would like more information about Winston Rowe & Associates, you can contact them at 248-246-2243 or visit them online at http://www.winstonrowe.com


A hard money loan is a specific type of financing in which a borrower receives funds based on the value of a specific parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution.

Hard money is similar to a bridge loan which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and not yet qualifying for traditional financing. Whereas hard money often refers to not only an asset-based loan with a high interest rate, but can signify a distressed financial situation such as arrears on the existing mortgage or bankruptcy and foreclosure proceedings are occurring.

Loan Structure

A hard money loan is a species of real estate loan collateralized against the quick-sale value of the property for which the loan is made. Most lenders fund in the first lien position, meaning that in the event of a default, they are the first creditor to receive remuneration. Occasionally, a lender will subordinate to another first lien position loan; this loan is known as a mezzanine loan or second lien.

Hard money lenders structure loans based on a percentage of the quick-sale value of the subject property. This is called the loan-to-value or LTV ratio and typically hovers between 50-65% of the market value of the property. For the purpose of determining an LTV, the word “value” is defined as “today’s purchase price.” This is the amount a lender could reasonably expect to realize from the sale of the property in the event that the loan defaults and the property must be sold in a one- to four-month timeframe. This value differs from a market value appraisal, which assumes an arms-length transaction in which neither buyer nor seller is acting under duress.

Below is an example of how a commercial real estate purchase might be structured by a hard money lender:

65% Hard money (Conforming loan)
20% Borrower equity (cash or additional collateralized real estate)
15% Seller carry back loan or other subordinated (mezzanine) loan

History of Hard Money

Hard Money is a term that is used almost exclusively in the United States and Canada where these types of loans are most common. In commercial real estate, hard money developed as an alternative “last resort” for property owners seeking capital against the value of their holdings. The industry began in the late 1950s when the credit industry in the US underwent drastic changes (see FDIC: Evaluating the Consumer Revolution).

The hard money industry suffered severe setbacks during the real estate crashes of the early 1980s and early 1990s due to lenders overestimating and funding properties at well over market value. Since that time, lower LTV rates have been the norm for hard money lenders seeking to protect themselves against the market’s volatility. Today, high interest rates are the mark of hard money loans as a way to protect the loans and lenders from the considerable risk that they undertake.

Cross Collateralizing a Hard Money Loan

In some cases the low loan to values do not facilitate a loan sufficient to pay the existing mortgage lender off in order for the hard money lender to be in first lien position. Because securing the property is the basis of making a hard money loan, the first lien position of the lender is usually always required. As an alternative to a potential shortage of equity beneath the minimum lender Loan To Value guidelines, many hard money lender programs will allow a “Cross Lien” on another of the borrowers properties. The cross collateralization of more than one property on a hard money loan transaction, is also referred to as a “blanket mortgage”. Not all homeowners have additional property to cross collateralize. Cross collateralizing or blanket loans are more frequently used with investors on Commercial Hard Money Loan programs.

Commercial Hard Money

Commercial hard money is similar to traditional hard money, but may sometimes be more expensive as the risk is higher on investment property or non-owner occupied properties. Commercial Hard Money Loans may not be subject to the same consumer loan safeguards as a residential mortgage may be in the state the mortgage is issued. Commercial hard money loans are often short term and therefore interchangeably referred to as bridge loans or bridge financing.

Commercial Hard Money Lender or Bridge Lender Programs

Commercial Hard Money Lender and Bridge Lender programs are similar to traditional hard money in terms of loan to value requirements and interest rates. A commercial hard money or bridge lender will usually be a strong financial institution that has large deposit reserves and the ability to make a discretionary decision on a non-conforming loan.

These borrowers are usually not conforming to the standard Fannie Mae, Freddie Mac or other residential conforming credit guidelines. Since it is a commercial property, they usually do not conform to a standard commercial loan guideline either. The property and or borrowers may be in financial distress, or a commercial property may simply not be complete during construction, have its building permits in place, or simply be in good or marketable conditions for any number of reasons.

Winston Rowe & Associates also has an excellent knowledge based free investor resource for real estate investing, valuation and analysis located at:

Winston Rowe & Associates offers the best in traditional and private and hard money commercial real estate financing programs. When you call them with a loan scenario, they quickly assess what type of financing is appropriate for your situation. Then utilize their direct access to the most aggressive investor sources in the world to create a customized financing solution for clients.

Winston Rowe & Associates has loans in the following states.

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,  Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee,   Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

How Commercial Loans Work Winston Rowe & Associates

No Upfront Fee Commercial Loans Explained

One typical way for people to acquire business property is to procure a loan, also known as a mortgage. When they are going to be using the property for business functions, the loan will be a commercial mortgage. These types of loans can be used to buy a structure where specialists will operate the business. The other choice is to acquire a house or apartment building that will be leased to other people.

Options for Professionals

Some people may be able to obtain a mortgage with no money down. These people are generally professionals who will use the property to perform services for their clients. Instead of a down payment, these professionals can offer the lender an asset that will be collateral for these 100 percent loans. In these cases, the lenders are offering a secured loan that is less risky for them because they will be able to sell the asset offered as collateral if the borrower cannot make the payments on the loan.

Because there is no down payment required for these 100 percent mortgages, the interest rate will be higher, but these types of loans can be advantageous to those who have not started their businesses yet. These professionals may need to have cash to begin setting up their practices, and they will have the opportunity to do that with no money down.

Mortgages for Other Purposes

The other type of commercial mortgage requires that the property be placed as collateral for the loan. The terms of these loans will be different from the typical mortgage that can have a term as long as 30 years. With loans used to purchase commercial property, the term can be much shorter, a couple of days, or it can also be 30 years. The business owners will make monthly payments just like for their residential properties, but they will, most likely, have a balloon payment after a determined number of years.

For example, if the term for the loan is 10 years, the business owners will make monthly payments for this amount of time. At the end of the term, the full balance will be owed to the lender, called the balloon payment.

Qualifying for the Loan

Qualifying for these loans also is similar to obtaining a loan for a home because the business will need to have a credit check. Although a lower credit score will not necessarily disqualify a business from borrowing money, a higher credit score is preferable for lenders.

What is very important to lenders is how well the business is currently performing. If the business has been very profitable up until the present time, it will be easier for these business owners to receive the money they need to purchase their properties. The lenders may also require that business owners offer them a business plan that will demonstrate how their businesses are going to benefit from the purchase of the property. If the plan can show that business profits will increase, lenders can be secure that they will receive the money back that they lend to these business owners, an important factor in deciding whether or not to lend business owners money.

Winston Rowe & Associates


Winston Rowe & Associates has commercial real estate loans in the following states.

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,  Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee,   Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

No Upfront Fee Commercial Loans

No Upfront Fee Commercial Loans

Winston Rowe & Associates is your one-stop source for everything you need for no upfront fee commercial real estate loans, nationwide. They have very strong relationships with all of their capital groups and investors.

Winston Rowe & Associates offers expert funding for apartment loans, office, hotel, industrial or retail property loans. Their service oriented professionals give you the underwriting expertise required by today’s tougher lending standards. Whether you are a seasoned investor or new to the market, there here help you explore your best options for commercial financing.

Commercial Loan Criteria:

Loan Amounts From $500,000. to $500,000,000.
All Commercial Property Types
No Upfront Fees

Savvy commercial real estate investors choose to work with Winston Rowe & Associates because they can often provide better terms than their local banks provide; such as longer fixed periods, longer amortization schedules, lower rates and or they need more aggressive underwriting standards than they have been able to find locally.

Their experienced and enthusiastic professional team has the expertise needed to make the loan process as easy as possible for their borrowers and without upfront fees.