Member Says Levo Commercial Loans Offer More Than Financing
Tyrel Kool, Levo Credit Union Business Services: Shane is wanting to get into commercial real estate a little. These two office buildings have 4 units in them great A office spaces great location growing part of the city and it’s a good first project.
Shane Leininger, Levo Business Member: I think we’ve been in business 25 years and have a big bank relationship for those years. It was good at times but it was a struggle at times. When you’re looking at a smaller project like these office buildings it just took too long to get through the bigger bank. some of those relationships have moved on and we wanted something more local.
Tyrel: We just hit it off right away.
Shane: he and I started to crunch the numbers and got it done fairly quickly from start to finish it was less than 30 days on 2 office buildings, 4 suites.
Tyrel: so we are closed on them the end of 2022 just finishing up some of the final exterior work on the build and hopefully have tenants in here fairly soon and be on to the next one.
Shane: I didn’t expect form the lending side he’d offer so much wisdom and advice.
Tyrel: I did residential lending for 7 years before fulltime commercial I’ve done thousands of real estate transactions (laughs) //Maybe? having all those experiences with so many transactions you know what to expect and what things could go wrong
Shane: I kind of feel like finance is finance is finance but he had a lot more to offer than that on certain aspects in the local real estate market. SF is different it’s kind of in a little bubble so having a local banker who can walk you through other things like land surveying, making sure the title work is complete, another set of eyes on things besides just the numbers.
Tyrel: We want to be the one that’s helping walk you through the process and bring thoughts to the forefront they might not otherwise be considering.
Shane: I’m new to this we had real estate we had owned buildings for our business it’s been good learning from these people that are good at it. // Excited to do more!
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