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 explain mezzanine loans in plain English. We also have lots of cute, clean jokes, some funny pics, and a terrifying video of an unarmed man being attacked by a black panther.
Joke Du Jour
A guy walks into a bar and sees a dog playing poker. The guy is amazed. "Bartender, is that a real dog playing poker?" the guy asks. "Yep, real as can be." the bartender replies. "Is he any good?" the guy asks. "Naw, every time he has a good hand, he wags his tail."
Almost As Bad As Looking For Your Glasses While Wearing Them
Private Money Commercial Loans Nationwide From $100,000 to $3.5MM
Do you need a commercial lender who will actually lend up to 75% LTV? 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? 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?
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 Couple of Cute Funnies
Q. Can a kangaroo jump higher than a house?
Of course! Houses can't jump.
Q. Why do fish live in saltwater?
Because pepper water makes them sneeze.
Mezzanine Loans in Plain English
Mezzanine loans are similar to second mortgages, except a mezzanine loan is secured by the stock of the corporation that owns the property, as opposed to the real estate. If the lender forecloses on the stock, it owns the corporation that owns the building.
Why use a mezzanine loan? Why not just use a garden-variety second mortgage? The answer is that a lender can foreclose on a mezzanine loan in just 5 weeks, as opposed to 18 months. We’ll cover this in more detail further below.
For ease of understanding, I am going to use the words, “corporations” and “stock”, throughout this training article. In real life, title to most large commercial properties these days is held in the name of a limited liability company (“LLC”). LLC’s do not have stock. They have membership interests instead. For our purposes, however, there is little difference between a corporation and a LLC, and corporations and stock are easier terms for most people to understand.
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.
An Englishman, a Scotsman, an Irishman, a Latvian, a Chinese, a Japanese, a Kiwi, a Canuck, an Eskimo, a Fijian, a Turk, an Aussie, a Yank, an Egyptian, a Spaniard, a Mongolian, a Tibetan, a Pollack, a Mexican, a Spaniard, a Greek, a Russian, an Estonian, a German, an Indian, an Italian, a Brazilian, a Kenyan, a South African, a Filipino, a Pakistani, a Korean, an Argentinean, a Lithuanian, a Dane, a Finn, a Swede, an Israeli, a Romanian, a Bulgarian, a Serb, a Czech, a Croat, and a Panamanian go to a fancy bar... The bouncer says: "Sorry. I can't let you in without a Thai."
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.
Didn't James Bond Walk Across the Backs of Some Crocs?
A woman goes to the post office to buy stamps for her Christmas cards. Clerk: What denomination do you want? Woman: Oh, good heavens! Have we come to this? Well, give me 50 Catholic and 50 Baptist.
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.
Grandma's Pie Joke
Granny Adams made such beautiful pies. One day I asked her, "How do you get such beautiful pies with the crimps around the edge so even?" "Well, it's a family secret," she said. "But if you promise not to tell, I'll let you in on it." "Okay," I said. "Tell me!" "Well, first, I roll out the dough, making sure it is flat and even. Then I cut out the bottom layer and carefully put in the pie plate and make sure it is firmly against the sides of the plate. "Then I slowly pour in the filling, making sure it's not too full. "Next, I cut out the top layer and carefully put it over the filling. "Finally, I take out my teeth and just run them around the edge of the pie crust, and they make the nicest even impressions you ever did see!"
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.
I Need a Funny Headline Here
Cat Lady Joke
"Police are looking for a woman who stole $3,000 worth of cat-grooming supplies at an airport baggage carousel. Police describe the suspect as 'single.'" --Seth Meyers
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 - Viewer Discretion Advised
Unarmed man attacked by a black panther
On a Personal Note
I just returned from a brief ski trip in Michigan with my girlfriend and her family. The last time I went skiing was almost 10 years ago, so of course I left the slopes a little battered and bruised but with my pride still intact. It was not surviving the slopes that I was most proud of that week, but rather it was surviving my girlfriend's family.
You see, while I love them, my girlfriend's family is a very loud and opinionated bunch. No topic is taboo and polite conversation quickly escalates into heated debates. To make matters worse, this was their first family vacation in the last 20 years. So there I was, on a 6-hour car ride (one way mind you) just waiting for someone to push someone else a little too far and then spend the rest of the trip dealing with tears and chaos.
Lucky for us, the week went without incident! I am proud to say I survived the family ski trip. On that note, it definitely helps that my oldest and best friend was recently engaged to my girlfriend's sister. Without him on the trip, I am not certain I'd be here today telling you this story!
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!
"A dog in Seattle is making news after commuters noticed it had been riding the bus to a local park all by itself. Everyone says the dog is amazing, while the dog said, panicking, 'I gotta find that blind guy. I'm in a lot of trouble if I don't find him.'" -- Jimmy Fallon
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.
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