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 teach you how to underwrite a commercial construction loan. We also have lots of cute, clean jokes, some funny pics, and a fascinating video about a hummingbird being raised by a dog and a Dad.
Joke Du Jour
Two kids are talking to each other. One says, "I'm really worried. My dad works twelve hours a day to give me a nice home and good food. My mom spends the whole day cleaning and cooking for me. I'm worried sick!" The other kid says, "What have you got to worry about? Sounds to me like you've got it made!" The first kid says, "What if they try to escape?"
Thank You For an Audience, Your Royal Kittyness
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.
Speeches Joke
"According to a political science professor, all of Donald Trump's speeches are given at a fifth-grade level or below. And today Trump said the professor who did the study was a doody head." -- Jimmy Fallon
Today's Lesson: How To Underwrite Commercial Construction Loans
A developer calls you in search of a commercial construction loan. Will he qualify? Where do you take the deal?
I just wrote the best training article of my career. It took me two weeks to write, and it came out great! You'll learn the five financial ratios that bankers use when underwriting commercial construction loans. I made the training fun too by using an imaginary story about a shady developer named Bubba. What a slimeball. Ha-ha!
Enjoy: How to Underwrite a Commercial Construction Loan
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.
SEAL Joke
Some people are extremely impressed when you tell them you're a Navy SEAL. Case in point: My grandson's Kindergarten class on Career Day. I regaled them with stories of my exploits in the military. After I finished, hands shot up into the air all over the classroom. The kids were eager to ask questions. One little girl asked, "Can you balance a ball on the end of your nose?"
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.
This Time the Cat Got Blamed
Computer Crash Joke
"In Virginia recently, a computer crash wiped out a decade's worth of U.S. military data. However, this morning, the Chinese government called and said, 'No problem, we backed it up.'" -- Conan O'Brien
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.
Cat Names Joke
I telephoned the veterinarian's office to ask when I should take my three-month-old kitten in to be vaccinated for rabies. After a few initial questions, the woman who answered the telephone asked, "What is the kitten's name?" "Demon," I replied. "Demon? That's an odd name," she said. "Maybe, but it's appropriate anyway." I heard clicking of a computer keyboard, then she said, "Our records show that you have cats named Gato [which is Spanish for 'male cat'], Scamp, Stinky, and now you named one Demon. Is that right?" "Yes, it is." "You really don't like cats, do you?”
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.
I Know It Looks Bad, But Hear the Story First. You See, the Cat...
Memory Joke - Oldie But a Goodie
A couple in their nineties are BOTH having problems remembering things. They decide to go to the doctor for a checkup. The doctor tells them that they're physically in good condition for their age, but if they are having trouble remembering they might want to start writing things down to help them. Later that night while watching TV, the old man gets up from his chair. "Where are you going?" his wife asks. "To the kitchen" he replies. "Will you get me a bowl of ice cream?" "Sure." "Don't you think you should write it down so you can remember it?" she asks, recalling the doctor's suggestion. "No, I can remember it." "Well, I'd like some strawberries on top, too. You'd better write it down because you know you'll forget it." He says, "I can remember that! You want a bowl of ice cream with strawberries." "I'd also like whipped cream. I'm certain you'll forget that, so you'd better write it down!" she retorts. Irritated, he says, "I don't need to write it down. Just don't start with that! Leave me alone!! Ice cream with strawberries and whipped cream. I got it, for goodness sake!" Then he grumbles on into the kitchen. After about 20 minutes, the old man returns from the kitchen and hands his wife a plate of bacon and eggs. She stares at the plate for a moment and says, "Where's my toast?"
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 - Hummingbird
Dog and Man Save Baby Hummingbird
On a Personal Note
Buying a house is very stressful. I am learning this first hand. Even with some background in real estate, there are aspects of the home buying process that make me want to rip my hair out. For example, I am attempting to purchase the house I'm renting right now. I paid $350 for a home inspection, only to find out I need to pay another $400 for a structural engineer. Argh! I am confident I will find I house I love, but I am just not sure I will have any hair left by then.
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 - Rated (R)
A little old lady is walking down the street dragging two large plastic garbage bags behind her. One of the bags rips, and every once in a while a $20 bill falls out onto the sidewalk. Noticing this, a policeman stops her, and says, "Ma'am, There are $20 bills falling out of your bag." "'Oh, really? Darn!" says the little old lady. "I'd better go back, and see if I can find them. Thanks for telling me.." "Well, now, not so fast," says the cop. "How did you get all that money?' You didn't steal it, did you?" "Oh, no", says the little old lady. "You see, my back yard is right next to the football stadium parking lot. On game days, a lot of fans come and pee through the fence into my flower garden. So, I stand behind the fence with my hedge clippers. Each time some guy sticks his thing through the fence, I say, '$20 or off it comes.'" "Well, that seems only fair." laughs the cop. "Okay, good luck! Oh, by the way, what's in the other bag?'' "Well, you know", says the little old lady, "not everybody pays."
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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