In this episode, I’m joined by Jordan Coleman, loan officer at Live Oak Bank - one of the few banks that truly understands property management.
We break down how SBA loans can unlock 100% financing for acquisitions, the hidden pitfalls in seller notes, and what lenders really look for in both buyers and sellers. Jordan also shares practical tips for navigating SBA terms, structuring clawbacks, and avoiding red flags (like client concentration risk).
We even cover how to refinance a seller note and why time kills deals more often than you think. If you’re considering buying, selling, or just want to understand your options, this episode is packed with insight.
Timecodes:
- (00:00:00) - Intro
- (00:01:39) - Meet Jordan Coleman from Live Oak Bank
- (00:01:53) - Understanding Live Oak Bank's unique offerings
- (00:02:15) - Jordan Coleman's background and role
- (00:03:21) - Live Oak Bank's industry focus
- (00:04:45) - Live Oak Bank's property management focus
- (00:05:55) - Importance of SBA loans and preferred lenders
- (00:07:22) - Qualifying for an SBA loan
- (00:08:47) - Live Oak Bank's loan products for property management
- (00:11:05) - Analyzing buyers and sellers for acquisitions
- (00:18:37) - Sponsor: PropertyManagement.com
- (00:20:31) - Loan terms, interest rates, and closing process
- (00:28:44) - Understanding SBA loan trade-offs
- (00:29:23) - Pros and cons of SBA loans
- (00:31:38) - Importance of clawback clauses
- (00:34:13) - Sponsor: AppFolio
- (00:35:50) - Navigating SBA lenders
- (00:38:57) - Pre-qualified buyers and sellers
- (00:46:23) - Refinancing seller notes
- (00:48:38) - Horror stories and lessons learned
- (00:53:44) - Building relationships with lenders
- (00:54:53) - Conclusion and final thoughts
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