COMMERCIAL LENDING NEWSLETTER
You are receiving this letter because you are one of my Spartans - my top-producing brokers and investor clients - of whom I am allowed to have 300. Removal instructions are below. Today we'll talk about how to use a blanket commercial loan to create a downpayment. And, of course, we have lots of cute, clean jokes, some funny pics, and a video of hilarious pranks.
Joke Du Jour
When our second child was on the way, my wife and I attended a pre-birth class aimed at couples who had already had at least one child. The instructor raised the issue of breaking the news to the older child. It went like this: "Some parents," she said, "tell the older child, 'We love you so much we decided to bring another child into this family.' But think about that. Ladies, what if your husband came home one day and said, 'Honey, I love you so much I decided to bring home another wife.'" One of the women spoke up immediately, "Does she cook?"
And She's Buying a ...
Private Money Commercial Loans Nationwide From $100,000 to $3.5MM
Is your client's commercial property partially vacant? Do you need a lender who will allow the seller to carry back a second mortgage? Does your client have a balloon payment coming due on his commercial property? Has your bank offered him a discounted pay-off? Does your borrower have less-than-stellar credit? Is your client's company losing money? Is your borrower a foreign national? Do you need a non-recourse loan? We make slightly scratched-and-dented commercial loans.
Our hot, new product is a blanket loan against a portfolio of rental homes. Rental homes? Yup, as long as there are at least five homes or units, we consider this to be a commercial loan. We even offer a partial release clause. This loan is ideal for speculators.
And don't forget, we will quickly and happily issue you a written Loan Approval Letter - at no charge - that you can use as a fallback and to lure cheaper lenders. After all, everyone wants to lend to you if you already have a commitment. Here is our latest rate sheet.
Blackburne & Sons is looking for commercial real estate loans that are not quite clean enough for a bank. Please click here to submit a hard money commercial loan or call me, Tom Blackburne, at (574) 210-6686.
Neanderthal Joke
"Scientists believe the first modern Europeans mated with Neanderthals. This is the oldest evidence yet of beer goggles." -- Conan O'Brien
Blanket Commercial Loans to Create a Down Payment
Two different commercial mortgage brokers used this clever technique to close a couple of commercial loans with Blackburne & Sons recently, so this opportunity comes up frequently.
The client wanted to buy a commercial property, but he lacked the cash for a down payment. Blackburne & Sons ended up making a first mortgage on the target commercial property that also blanketed one or two other rentals that the buyer owned. The equity that the buyer had in the rental properties served as his downpayment. These deals actually closed.
I blogged on these deals recently. Be sure to subscribe to my blog for free training in commercial real estate finance.
Need a commercial loan? Simply complete this super-easy mini-app.
This Bar Could Be in Greece
Oldest Person Joke
"The world's oldest person has died. Again. Third time this year. Someone is killing the world's oldest people, and we do nothing about it." -- Jimmy Kimmel
Sweet Apartment Loan Program for "A" Deals
Blackburne & Sons has a terrific apartment loan program for "A" quality deals. Our fixed rate is adjusted according to the desirability of the property and the area, but it starts at 3.87% and 1 point for a 30-year fully-amortized loan. For more details, please call Tom Blackburne at (574) 210-6686.
Note Exchange Joke
"Hillary Clinton signed a note this week for a nine-year-old boy, explaining to his teacher that he was missing school to meet her. In exchange, the kid wrote Hillary a note saying his dog ate her emails." -- Jimmy Fallon
Small Balance Preferred Equity ($100K to $1MM)
If an investor wants to buy a leased commercial property, banks today will seldom lend more 58% to 62% LTV. Your buyer only wants to put down 25% of the purchase price
Quick, easy preferred equity from Blackburne & Sons fills in the missing piece of the capital stack. We'll add our $150,000 in equity dollars to your client's $250,000 down payment to create a down payment large enough to satisfy the bank. Think of our preferred equity as tiny Joint Venture investments.
For more information, please call Tom Blackburne at (574) 210-6686.
Be Together, Not the Same
Hoop Joke - The Folks From PETA Are Gonna Stone Me
John got off the elevator on the 50th floor and nervously knocked on his blind date's door. She opened it and was as beautiful and charming as everyone had said. "I'll be ready in a few minutes," she said. "Why don't you play with Spot, my dog, while you're waiting?" He does wonderful tricks. He rolls over, shakes hands, sits up and if you make a hoop with your arms, he'll jump through." The dog followed John onto the balcony and started rolling over. John made a hoop with his arms and Spot jumped through -- unfortunately right over the balcony railing. Just then John's date walked out. "Isn't Spot the cutest, happiest dog you've ever seen?" "To tell the the truth, " he replied, "Spot seemed a little depressed to me."
Too Busy to Broker Commercial Loans to Us? Why Not Just Refer Them Instead? We Make It Easy!
We once paid a $21,250 referral fee. Here is our referral fee program.
Video of Our President Not Long After After 9/11
This is worth seeing, a true man under pressure. This is the opening World Series pitch shortly after 9-11, fourteen years ago. Most people are not aware that a secret service guy dressed as an umpire the night President Bush threw out the first pitch during the 2001 World Series at Yankee Stadium. It's a great story. I'm surprised that none of the newspaper guys ever picked up on the "stranger" in the umpire's uniform.
And our President threw a strike.
On a Personal Note
My daughter had her first soccer game last night. I was not sure what to expect because this was her first organized sporting even. Being on the sideline instead of the field is not something I am used to. So, at the beginning, I really was starting to get frustrated with her inability to stay focused on the game. I had to constantly remind her to stay on the field and listen to the coach (not uncommon for a 4yr old). I also had to tell her several times to stop splashing in the puddles and start chasing after the ball! But after a little coaching and explaining on how the game is played, my daughter started showing real promise! She was able to run past defenders, steal the ball (usually from her own teammates), and the best part was that she was actually having fun. I am certain she got my athletic talent and I am so excited to see her progress into the next Carli Lloyd.
Don't Forget About C-Loans.com
We have a whole new crop of hungry commercial lenders on C-Loans, so if you have a commercial loan you're trying to place, it takes just four minutes to submit your deal to 750 commercial lenders. And remember, C-Loans.com is free!
Final Funny
Three little boys were visiting their grandparents. The oldest came out and asked his grandpa, "Can you make a sound like a frog, Grandpa? Grandpa (being in a kind of ill mood) responds, "No, I don't really want to make the sound of a frog now." So, the second little boy comes out and asks his grandfather, "Will you please make a sound like a frog?" Grandpa again says, "No, not now. I don't really want to do that. I'm in a grumpy mood. Maybe later." Then the third little boy comes out and says, "Grandpa, oh please-please-please, won't you please make a sound like a frog?" "Why do all of you boys want me to make a sound like a frog?" Grandpa asked. The little boy replied with a hopeful face, "Well, Mom said that as soon as you croak, we get to go to Disney World!"
Get a Free E-Book on CREF
This free e-book contains seven of George's best blog articles on the subject of commercial real estate finance.
Contact Information
Tom Blackburne
BRE# - 01919403
NMLS# - 1014118
BLACKBURNE & SONS REALTY CAPITAL CORPORATION
4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
Phone: (574) 210-6686
Fax: (916) 338-2328
Email: tommy@blackburne.com
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