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 becoming a "best broker" for your commercial lender. We also have lots of cute, clean jokes, some funny pics, and a nice flash mob video.
Joke Du Jour
An old man was critically ill. Feeling that death was near, he called his lawyer. "I want to become a lawyer. How much is it for the express degree you told me about?" "It's $50,000," the lawyer said. "But why? You'll be dead soon. Why do you want to become a lawyer?" "That's my business! Get me the course!" Four days later, the old man got his law degree. His lawyer was at his bedside, making sure his bill would be paid. Suddenly, the old man was racked with fits of coughing, and it was clear that this would be the end. Still curious, the lawyer leaned over and asked, "Please, before it's too late, tell me why you wanted to get a law degree so badly before you died?" In a faint whisper, as he breathed his last, the old man said, "One less lawyer…"
First They Seduce You With Their Cuteness, and Then They Own You.
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.
Manyana Joke
Spanish singer Julio Iglesias was on television with British TV host Anne Diamond when he used the word "manyana." Diamond asked him to explain what it meant. He said that the term means "maybe the job will be done tomorrow, maybe the next day, maybe the day after that. Perhaps next week, next month, next year. Who cares?" The host turned to Irishman Shay Brennan, who was also on the show, and asked him if there was an equivalent term in Irish. "No. In Ireland we don't have a word to describe that degree of urgency," replied Brennan.
Becoming a "Best Broker" For a Commercial Lender
The typical commercial real estate loan officer closes 60% to 70% of his loans for just five or six mortgage brokers. If you can ever become a "best broker" for a commercial lender, you can really rake in the dough.
Why? Every commercial loan ever made had several glaring black hairs - flaws in the deal. Maybe the debt service coverage ratio wasn't high enough. Maybe the commercial tenants were weak or their leases expired in just a couple of years.
If you are not one of a lender's best brokers, your deal will often get turned down right away. However, if you are one of a lender's "best brokers", he will often fight for your deal in Loan Committee and get it approved.
Let me put it another way. If you bring a commercial loan to an unfamiliar lender, it will often get quickly turned down; but if that exact same deal had been brought to the exact same lender by one of his "best brokers", the deal would have been approved!
So how do you become a "best broker" for a commercial lender? You close a deal with him! But wait, how can you close a loan for a lender before you become one of his "best brokers"? Answer: You save your super-cherry deals for this special lender. Every commercial mortgage broker gets one or two slam-dunks every year. Bring those slam-dunks to the lender who can do you the most good over your career.
This leads me to the point of today's newsletter. You definitely want to become a "best broker" for one of Blackburne & Sons' three loan officers.
Blackburne & Sons has already been in business for 36 years. To do so, we had to survive three commercial real estate crashes of 45%. Blackburne & Sons was also the only commercial lender to stay in the market every single day of the Great Recession.
Since we are always here making commercial loans, bring your choicest cherries to us and become a "best broker" for Alicia - our Loan Goddess - or one of my two sons, George IV or Tom. You may be able to take that cherry loan on your desk to any one of a dozen different commercial lenders, but you really-really want to close that first loan with one of our loan officers. Your next deal might not be that cherry.
If you need a non-prime or subprime commercial loan right now, simply complete this super-easy mini-app.
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.
Saucer Joke
A famous art collector is walking through the city when he notices a mangy cat lapping milk from a saucer in the doorway of a store. He does a double take. He knows that the saucer is extremely old and very valuable, so he walks casually into the store and offers to buy the cat for two dollars. The store owner replies, "I'm sorry, but the cat isn't for sale." The collector says, "Please, I need a hungry cat around the house to catch mice. I'll pay you 20 dollars for that cat." And the owner says "Sold," and hands over the cat. The collector continues, "Hey, for the twenty bucks I wonder if you could throw in that old saucer. The cat's used to it, and it'll save me from having to get a dish." The owner says, "Sorry buddy, but that's my lucky saucer. So far this week I've sold sixty-eight cats."
Get a Free Directory of 2,000 Commercial Real Estate Lenders
If you introduce us to just one commercial real estate loan officer who works at a bank, we'll let you download The Blackburne List, a list of 2,000 commercial real estate lenders organized by state, for free. Click here to trade one banker for two thousand.
Life Isn't Fair - Everyone Should Learn Early
Henry VIII Joke
Q: Why was the ghost of Anne Boleyn always running after the ghost of Henry VIII?
A:
She was trying to get ahead!
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.
Mailman Joke
"Guess what I heard today?" a man says to his wife. "What, hon?" she asks. "The mailman has seduced every woman on our block but one." "Huh," his wife says, "I bet it's that stuck-up Phyllis next door."
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.
My Cat Loves to Loudly Announce His Amazing Kills - Some Tiny Vole - At 3:00 in the Morning
Cinderella Joke
Q: What did Cinderella say to the photographer?
A: Someday my prints will come.
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 - Ode To Joy Flash Mob
When this little girl walked up to a street musician and put some money in his hat no one had any idea what she had just started.
On a Personal Note
My daughter will be attending Kindergarten in the fall. I have had a difficult time determining which school to choose in my district. While it is only kindergarten, children develop the most during these crucial early years. After touring a handful of schools, and a lot of back and forth, I finally may have one picked out. My concern now is teaching my daughter about bullies. While I do not condone violence, I know the Crouching Tigers Karate classes she is enrolled in will give me some peace of mind. I am hopeful the lessons will help with her confidence, too.
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 - Oldie But Goodie
God Said, "Adam, I want you to do something for Me." Adam said, "Gladly, Lord, what do You want me to do?" God said, "Go down into that valley." Adam said, "What's a valley?" God explained it to him. Then God said, "Cross the river." Adam said, "What's a river?" God explained that to him, and then said, "Go over to the hill...." Adam asked, “What is a hill?" So, God explained to Adam what a hill was. He told Adam, "On the other side of the hill you will find a cave…" Adam asked, “What's a cave?” After God explained, He said, "In the cave you will find a woman." Adam said, "What's a woman?” So God explained that to him too. Then God said, “I want you to reproduce." Adam said, "How do I do that?" God first said (under His breath), "Geez....." And then, just like everything else, God explained that to Adam as well. So Adam goes down into the valley, across the river, over the hill, and into the cave, where he finds the woman. Then, in about five minutes, he was back. God, His patience wearing thin, said angrily, "What is it now?" And Adam asked... "What's a headache?"
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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