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 examine the CV and its importance in commercial construction lending. We also have lots of cute, clean jokes, some funny pics, and an amazing Saturday Night Live skit of Arianna Grande impersonating various female vocal stars.
Joke Du Jour - OMGoodness, So Funny
Our teacher asked what my favorite animal was, and I said, "Fried chicken." She said I wasn't funny, but she couldn't have been right, because everyone else laughed. My parents told me to always tell the truth. I did. Fried chicken is my favorite animal. I told my dad what happened, and he said my teacher was probably a member of PETA. He said they love animals very much. I do, too. Especially chicken, pork and beef. Anyway, my teacher sent me to the principal's office. I told him what happened, and he laughed, too. Then he told me not to do it again. The next day in class my teacher asked me what my favorite live animal was. I told her it was chicken. She asked me why, so I told her it was because you could make them into fried chicken. She sent me back to the principal's office. He laughed and told me not to do it again. I don't understand. My parents taught me to be honest, but my teacher doesn’t like it when I am. Today, my teacher asked me to tell her what famous military person I admired most. I told her, "Colonel Sanders." Guess where the hell I am now…
What Is It About Boxes?
Private Money Commercial Loans Nationwide From $100,000 to $3.5MM
Do you need a non-recourse loan? 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?
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.
Cabinet Joke
"Sources say that Trump is already finalizing his cabinet. Rudy Giuliani would be attorney general, Newt Gingrich would be secretary of state, and Chris Christie would be the wall."" -- Jimmy Fallon
What is a CV?
CV is short for curriculum vitae, which is Latin for "course of one's life." Google defines it as, “a short account of one's career and qualifications prepared typically by an applicant for a position.” Gee, George, that just sounds like a fancy way of saying, "resume." That's right.
In commercial real estate construction lending, however, a CV has a special meaning. A CV includes a summary of all the borrower's development experience, construction experience, and commercial property management experience. For example, I recently worked on a large hotel construction loan, and the fact that the developer already owned and managed an existing hotel was a huge plus in the developer's favor.
When I screen large commercial construction loans, I ask brokers and developers three questions:
- What is the net worth of the developer? Remember, the net worth of the borrower must equal or exceed the loan amount.
- How much equity - skin in the game - does the developer have in the deal? Historically the developer needs to contribute at least 20% of the total cost of the project. In the wake of the Great Recession, at a time when lenders are still nervous, 25% to 35% is more often required.
- What are the highlights of the developer's CV that would give me confidence in the sponsor's development, construction, and property management experience in developing a project of this size.
- I also inquire as to whether or not the developer has an architect's rendering of the project. Without one, I know that the developer lacks sufficient experience.
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.
If you still can't find a commercial lender using C-Loans, then try CommercialMortgage.com. Keep in mind that the 3,159 commercial lenders on CommercialMortgage.com are different than the 750 commercial lenders on C-Loans.com.
In any case, you should come visit CommercialMortgage.com right now and take it for a free test drive. You do NOT need a real life commercial loan request.
Sausages Joke
Patient: "Doctor, my wife thinks I'm crazy because I like sausages."
Psychiatrist: "Nonsense! I like sausages too."
Patient: "Good, you should come and see my collection. I've got hundreds of them."
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.
Muncher of Dragons
Big Drop Joke
"A tech blogger in California used a weather balloon to drop an iPhone from the edge of space, at 100,000 feet in the air, to see what would happen — and still, somehow, the phone landed in the guy’s toilet." -- Jimmy Fallon
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.
Fishing Bait Joke
I went fishing this morning. After a short time I ran out of worms. Then I saw a cottonmouth with a frog in his mouth. Frogs are good bass bait. Knowing the snake couldn't bite me with the frog in his mouth, I grabbed him right behind the head, took the frog, and put it in my bait bucket. Now the dilemma was how to release the snake without getting bit. So I grabbed my bottle of Jack Daniels and poured a little whiskey in its mouth. His eyes rolled back, he went limp. I released him into the lake without incident and carried on fishing using the frog. A little later, I felt a nudge on my foot. There was that same snake, with two frogs in his mouth. Life is good in the South.
Have You Tried CommercialMortgage.com?
Our new commercial mortgage portal, CommercialMortgage.com, boasts 3,159 commercial lenders, four times lenders more than C-Loans. In addition, CommercialMortgage.com is much easier to use than C-Loans.com. You should try it on your cell phone. It works just like an app.
He's a Rebel, and He Never Does What He Should
WikiLeaks Joke
"Every day, we get another revelation about Clinton from WikiLeaks. Any more, and we’re going to need WikiDepends." -- Stephen Colbert
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 - Arianna Grande Vocal Impressions
In this SNL skit, about three minutes into the video, Arianna Grande does seven amazing vocal impressions
On a Personal Note
If you have been keeping up with my last few advertisements, you will recall that I just purchased my first house - a fixer-upper. For the last few weeks, I have been living without a stove/range, dishwasher, washer/dryer, and even without flooring. Living without these basic appliances really makes you appreciate their value, especially basic carpeting, but I was able to successfully finish the upstairs. It sure is nice to be able to walk out of the shower without getting a splinter. Now, I should probably put up some blinds in the bathroom next, before my neighbors get too freaked out!
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
A long black hearse was followed by a second long black hearse about 50 feet behind the first one. Behind the second hearse was a solitary woman walking a pit bull on a leash. Behind her, a short distance back, were about 200 women walking single file. A woman, walking out of a nearby pharmacy, was so curious that she respectfully approached the woman walking the dog and said, "I am so sorry for your loss, and I know now is a bad time to disturb you, but I have never seen a funeral like this. Whose funeral is it?" "My husband's," replied the widow. "What happened to him?" asked the shopper. The widow replied, "My dog attacked and killed him." The shopper inquired further, "Well, who is in the second hearse?" The widow answered, "My mother-in-law. She was trying to help my husband, when the dog turned on her." A poignant and thoughtful moment of silence passed between the two women. "Can I borrow the dog?" asked the shopper. "Get in line," replied the widow.
Get a Free E-Book on CREF
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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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