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 cover what kinds of commercial loans that a newbie commercial mortgage broker should target. We also have lots of cute, clean jokes, some funny pics, and a funny video that almost killed me.
Joke Du Jour
A murderer, sitting in the electric chair, was about to be executed. "Have you any last requests?" asked the Chaplain. "Yes," replied the murderer. "Will you hold my hand?"
I Have Traveled Far and Wide
Private Money Commercial Loans Nationwide From $100,000 to $3.5MM
Do you need a commercial loan with no prepayment penalty? Is your client's commercial property partially vacant? Do all of your commercial leases run out in the next 18 months? Do you need a lender who will allow a negative cash flow? Do you need a lender who will also look at the borrower's global income - income from salaries, other investments, etc.? 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?
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.
Big Bucks Joke
Q: What do you get when you cross fifty female pigs and fifty male deer?
A:
A hundred sows and bucks
Today's Lesson: What Type of Commercial Loans Should New Mortgage Brokers Target?
You are not going to hire a tax preparer who knows less about tax law than you do. The same is true with commercial real estate investors. A commercial real estate investor is not going to hire a mortgage broker who knows less about commercial real estate finance than he does.
Therefore, if you are a fairly new commercial loan broker, you should not be pursuing commercial-investment property owners. These are the guys who own shopping centers or scores of apartment units. Most of these guys are full-time property investors, and they know more about financing commercial real estate than you do. They already know all of the best commercial lenders in town.
Instead, your target should be owner-user properties, like the owner of a trucking company or a tool-and-die shop. These guys are too busy running their companies to shop for a commercial loan. While they know everything about trucking or tool-making, they know very little about commercial real estate finance.
"That all sounds great, George, but how do I find these guys?"
I recently blogged on the subject of marketing when you are as poor as a churchmouse. By the way, be sure while you're there to subscribe to my blog. It's free training in commercial real estate finance.
If you need a non-prime or subprime commercial mortgage loan right now, simply complete this super-easy mini-app to me here at Blackburne & Sons.
If you need a bank-quality commercial loan right now from a life company, a commercial bank, or a conduit, you should enter your deal into C-Loans.com.
Bees Joke
Q: What kind of bees produce milk?
A: Boobies!
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.
Dancing With the Stars
Chicken Joke
A man runs to the doctor and says, "Doctor, you've got to help me. My wife thinks she's a chicken!" The doctor asks, "How long has she had this condition?" "Two years," says the man. "Then why did it take you so long to come and see me?" asked the shrink. The man shrugs his shoulders and replies, "We needed the eggs."
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.
Dish Joke
"The town of Clark, Texas has agreed to change its name to Dish, Texas after the dish network gave all of its residents free dish satellite TV for the next ten years. This is the sort of thing that can backfire on a town - just ask the people of Betamax, Wyoming." -- Jay Leno
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.
Giving a Husky a Ruff Day. Ba-Da-Boom!
Funny High School Analogies and Metaphors
He fell for her like his heart was a mob informant and she was the east river.
"Oh, Jason, take me!" she panted, her breasts heaving like a college freshman on $1-a-beer night.
It hurt the way your tongue hurts after you accidentally staple it to the wall.
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 - Fascinating!
Futuristic Chinese bus.
On a Personal Note
Last weekend, my little sister just finished up her junior year of high school at Culver Academies. At the end of junior year, there is a special ringing ceremony where every new senior gets ringed by someone near and dear to them. This year, my sister asked my brother and me to ring her. George, my brother, flew in from California just for this ceremony. It was incredibly special being asked to ring our little sister, and it was even more special for my sister to have her two older brothers there to support her. Once she finishes her senior year, she will be the 4th Blackburne to graduate from Culver Academies! We are all very proud of her.
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
An elderly man lay dying in his bed. Nearing the final curtain, he suddenly smelled the aroma of his favorite chocolate chip cookies wafting up the stairs. He gathered his remaining strength, and lifted himself from the bed. Leaning against the wall, he slowly made his way out of the bedroom, and with even greater effort forced himself down the stairs, gripping the railing with both hands. With labored breath, he leaned against the door-frame, gazing into the kitchen. Were it not for death's agony, he would have thought himself already in heaven: there, spread out upon newspapers on the kitchen table were literally hundreds of his favorite chocolate chip cookies. Was it heaven? Or, was it one final act of heroic love from his devoted wife, seeing to it that he left this world a happy man? Mustering one great final effort, he threw himself toward the table, landing on his knees in a rumpled posture. His parched lips parted; the wondrous taste of the cookie was already in his mouth; seemingly bringing him back to life. The aged and withered hand, shakingly made its way to a cookie at the edge of the table, when it was suddenly smacked with a spatula by his wife. "Stay out of those!" she said, "They're for the funeral."
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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