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 primary locations versus secondary locations. We also have lots of cute, clean jokes, some funny pics, and a great boxing video.
Joke Du Jour
Jimmy: "Hey, Mike! How's your new pet fish doing? You told me he was really something special."
Mike: "To tell the truth, I'm really disappointed in him. The guy who sold him to me said I could teach him to sing like a bird."
Jimmy: "What? Let me get this straight... You bought a fish because you thought you could teach him to sing like a bird?" Mike: "Well, yeah. After all, you know, he's a parrot fish."
Jimmy: "Now listen, Mike, you might be able to teach a parrot to sing, but you're never going to get anywhere with a parrot fish."
Mike: "That's what you think! It just so happens this fish CAN sing. The thing is, he's terribly off-key and it's driving me crazy. Do you know how hard it is to tuna fish?"
Funny One For the Ladies
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.
A lawyer was standing in a long line to get tickets for a play. Suddenly, he felt the hands of the man behind him, kneading into his back. He turned and gave the man a stern look, and the kneading stopped. But a few minutes later, he again felt the man's hands on his back. "Excuse me," the lawyer asked, "But why are you touching my back?" "I'm a chiropractor," the man replied, "and I sometimes I can't keep myself from practicing my skills." "Get control of yourself," the lawyer shot back. "I'm an attorney, and you don't see me screwing the guy in front of me, do you?"
Primary Locations Versus Secondary Locations
A primary location, in terms of commercial real estate finance, is one of the most desirable locations in a gateway city in terms of traffic count, accessibility, safety, and affluence of the neighborhood. In other words, a lot of Lexus's, Mercedes, and BMW's need to be driving by. You will rarely find a life company lending in a city of less than 500,000 residents.
A gateway city is defined as a large, generally safe, metropolitan area, featuring at least one major university and a socially vibrant city center, that is a beehive for commerce, immigration, and job creation. The typical gateway city enjoys a pro football franchise and/or a pro basketball franchise and an MSA containing at least 1,000,000 residents.
A secondary location is defined as a middle-class, less-commercially-active area in a large city or an affluent, vibrant, and desirable area in a smaller city. A secondary location is typically a nicer-than-average location, but it is just not an incredible location. Is there a lot of brass and glass around? If not, you're not in a primary location.
Example: The most affluent and desirable location in Fargo, North Dakota - where all the physicians and attorneys congregate to do business - would be considered a secondary location.
Read our full blog article on the subject. While you're there, be sure to sign up for our free training in commercial real estate finance.
If you need a bank-quality commercial loan right now from a life company, commercial bank, or conduit, you should enter your deal into C-Loans.com.
If you need a non-prime or subprime commercial loan, simply complete this super-easy mini-app.
Moms Can Be Sooo Protective. Geesch!
Did you hear about the stupid Kamikaze pilot?
He flew 57 missions!
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.
"A doctor in the U.K. yesterday admitted misconduct charges after he accidentally performed a vasectomy on the wrong patient. Apparently, the patient was pretty upset when she woke up." -- Seth Meyers
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.
"Missed It By This Much" -- Maxwell Smart
Cookies Left Behind Joke
After a long, bumpy flight, our passengers were glad to finally land. They disembarked, and the other attendants and I checked for items left behind. In a seat pocket, I found a bag of home-made cookies with a note saying, "Much love, Mom." Quickly, I gave the bag to our gate agent in hopes it would be reunited with its owner. A few minutes later, an announcement came over the public-address system in the concourse: "Would the passenger who lost his cookies on Flight 502, please return to the gate?"
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 - Great Round in the History of Boxing
Marvin Hagler versus Tommy "The Hitman" Hearns - 1985
Despite being drenched in his own blood,
Hagler knocked out Hearns in the third round.
On a Personal Note
This past weekend we took our boat out for the first time this year. It’s a small boat, nothing special, but it’s enough to escape the world for a little bit. There are few things more relaxing than being on the water. The weather was sunny, but chilly, so the lake was completely empty. We found a good spot to beach, had a nice meal while the dogs played in the water and just enjoyed a stress free day. Hopefully this was just the first of many more relaxing days on the water.
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 - Long But Funny
A butcher is leaning on the counter toward the close of day when a dog with a basket in its jaws comes pushing through the door. "An' wot's this then?" he asked. The dog knocks the basket sharply into the butcher's shins.
"You dumb dog." As he reaches down to smack the dog, he notices a note and a ten dollar bill in the basket. The scribble on the note asks for three pounds of his best ground beef. The butcher figures this is too easy. He goes to the window and reaches for the dried up stuff that's been sitting out all day. The dog growls at him. The butcher turns around and, glaring at the pup, gets the best mince from the fridge. Weighing out about 2 1/2 pounds, he drops in on the scale with his thumb. "Hmmmmm, a bit shy. Who'll know?" Again, the dog growls menacingly. "Alright, alright," as he throws on a generous half pound. He wraps it out, drops it in the basket, and drops in change from a five. The dog threatens to chew him off at the ankles. Another five goes in the basket.
The butcher is quite impressed and decides to follow the piddy pup home. The dog quickly enters a high-rise buildings, pushes the lift button, enters the lift, and then pushes the button for the 12th floor. The dog walks down the corridor and smartly bangs the basket on the door. The door opens, and the dog's owner screams at the dog. "Hey, what are you doing? That's a really smart dog you've got there," comments the butcher. "He's a stupid dog -- that's the third time this week he's forgotten his key."
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BLACKBURNE & SONS REALTY CAPITAL CORPORATION
4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
Phone: (574) 210-6686
Fax: (916) 338-2328