How do you get the AIO model to refinance during the hold term for value-add and construction loans?
There are several options for handling mid-term refinances in the All-in-One
1. When using the development module (i.e. M13 > 0 on Summary tab). A construction loan with interest-only payments, together with equity, fund the uses outlined on the Budget tab. At stabilization (K17 on the Summary tab), a permanent loan takes out the construction loan (see Perm. Debt tab).
2. When not using the development module, or after stabilization. A permanent loan funds at time 0 (or at stabilization when using the Development module) with a loan maturity month set in cell E18 of the Perm. Debt tab. If the loan maturity month is less than the analysis period, a second loan (i.e. mid-hold refinance) takes out the initial loan with assumptions for that loan set in cells B29:E38 of the Perm. Debt tab.
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