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 I'll teach you how to meet bankers - the single best source of commercial mortgage referrals. We also have lots of cute, clean jokes, some funny pics, and a video of some locals catching fish in a bone dry desert.
Joke Du Jour
Once upon a time, there was a snail who was sick and tired of his reputation for being so slow. He decided to get some fast wheels to make up the difference. After shopping around a while, he decided that the Datson 240-Z (a super-hot car back in the day) was the car to get.
The snail goes to the nearest Datsun dealer and says he wants to buy the 240-Z, but he wants it repainted '240-S'. The dealer asks, "Why 'S'?" The snail replies, "'S' stands for snail. I want everybody who sees me roaring past to know who's driving." Well, the dealer doesn't want to lose the unique opportunity to sell a car to a snail, so he agrees to have the car re- painted for a small fee.
The snail gets his new car and spent the rest of his days roaring happily down the highway at top speed. And whenever anyone would see him zooming by, they'd say, "Wow! Look at that S-car go!"
When My Pretty Wife and I Walk Our Three Dogs, Guess Who Carries the Poop?
Private Money Commercial Permanent Loans Nationwide From $100,000 to $3.5MM
Do you need a commercial lender who will actually lend up to 75% LTV? Blackburne & Sons has decided to compete against banks by offering a higher 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? Do you need a loan against a portfolio of rental houses?
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.
Scale Joke
"Darn!" the man said to his friend while weighing himself at the local drug store scale. "I started on a new diet, but the scale says I'm heavier than I was before." Turning to his friend, he said, "Here, hold my jacket." The scale still indicated that he had not lost any weight. "OK," he said to his friend. "Hold my Twinkies."
How To Meet Bankers
The first lender that most borrowers call when seeking a new commercial loan is their own bank. As a result, the typical bank loan officer gets billions and billions of commercial loan requests.
The good news is that most commercial real estate loan officers at banks are sleepy, 55-year-old guys on straight salary. Few of them could give a flying fig if they ever closed another commercial loan. These guys therefore turn down billions and billions of commercial loans every month. You want their commercial loan turndowns!
I just wrote a great blog article about how to meet bankers, but I accidentally posted it to the wrong blog. (I have two blogs). If you enjoy the above blog article, and you want to read future training articles, please do NOT subscribe to my blog on that page. Instead, please sign up to receive free training in commercial real estate finance here.
Guys, here is a quick intelligence test: The single best source for commercial mortgage referrals is bankers, so you should be calling two or three bankers every day anyway. You can trade just one banker for a list of 750 bankers (1 for 750?) or for a free commercial mortgage marketing course.
Free Copy of The Blackburne List
The Blackburne List is a list of over 2,500 commercial lenders located nationwide. We just spent almost $30,000 and three months updating this list.
The Blackburne List is available for purchase for just $79.95. Is money tight? You can also buy one of our three Regional Lists (750+ lenders) for just $39.95. But why spend money at all?
We will trade you one of our three Regional Lists for the contact information of just one banker making commercial real estate loans. If you refer us three bankers, you will own the list for all three regions. Together you will own the entire Blackburne List.
There is another way that you can access The Blackburne List. Our newest portal, CommercialMortgage.com, is an online way to search the entire Blackburne List for the 30 lenders most suitable to make your loan. CommercialMortgage.com ("CMDC") is also 100% free!
Did you buy a copy of the full list last year? Please write to Tom Blackburne. For $39.95 more, we'll let you buy the brand new version of The Blackburne List.
Operation Joke
I hate the idea of going under the knife. So I was very upset when the doctor told me I needed a tonsillectomy. Later, the nurse and I were filling out an admission form. I tried to respond to the questions, but I was so nervous I couldn't speak.
The nurse patted my hand and said, "Don't worry. This medical problem can easily be fixed, and it's not a dangerous procedure." "You're right. I'm being silly," I said. "Please continue." "Good," the nurse went on. "Now, do you have a living will?"
Learn Commercial Real Estate Finance - Nine Hour Video Training Course - Just $549
It would be a lot easier to close your commercial deals if you actually knew the subject matter. Finally learn this stuff.
Want to get this $549 course for free? Get me all of the contact information - address, email, etc. - on ten bankers, and I will send you the course for free. Guys, the ONLY acceptable bankers are loan officers working for FDIC-insured commercial banks or credit unions. Got ten? Write to me personally, George Blackburne III (the old man and founder) for this special trade.
My Sweet Wife Insists on Feeding the Local Feral Cats. Our Five Fat Cats Soon Develop Friendships With the Local 'Coons and 'Possums"
It's the Loan Servicing Income, Folks
The loan servicing portfolio for Blackburne & Sons just broke $53 million this quarter. Since our average loan servicing fee is two percent annually, that means we earn $1 million per year for servicing just 250 loans. How would you like to walk in the door on the first of each month knowing that you will earn at least $83,000? Find your own private mortgage investors.
Glasses Joke
I believe my daughter wants a pair of glasses. I don't know why she does. Perhaps glasses are now "cool" to have in school? Although she sees just fine, she still says she needs glasses.
I took her to the eye doctor just to check it out though. She was asked to read the bottom row of letters on the eye chart. She said, "All right, I can see the 'O' and the 'P' and the 'T,' but not the 'N' and the 'Z.'"
Buy Both Training Courses For Just $849
To order, please on contact Tom Blackburne at 574-210-6686 or tommy@blackburne.com.
Need a Commercial Loan Right Now?
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 or our latest commercial loan portal, Commercial Mortgage.com.
The lenders on CommercialMortgage.com (3,159 commercial mortgage lenders) are different from the 750 commercial lenders on C-Loans.com. The really hungry lenders join C-Loans.com.
To Those Idiots Who Want Their Loving Wives To Get Plactic Surgery...
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.
Gray Hair Joke
I was having trouble with the idea of turning 30 and was oversensitive to any signs of advancing age. When I found a prominent gray hair in my bangs, I pointed to my forehead. "Have you seen this?" I indignantly asked my husband. "What?" he asked. "The wrinkles?"
We're Now Making Business Purpose Rental Home Loans in Four States
For the past 37 years, Blackburne & Sons has exclusively been a commercial lender. This has now changed. We are aggressively seeking non-owner occupied home loans in California and three other states:
- California
- Florida
- Arizona
- Washington
The property has to be non-owner occupied, and the purpose of the loan must be for business. The nice thing about business purpose home loans from Blackburne & Sons is that our loans have up to a 5-year term and no prepayment penalty.
Got a commercial deal nationwide or a business purpose, non-owner-occupied residential deal in one of the above four states? Please call your loan officer:
Alicia Gandy at 916-338-3232
NMLS # 389678
Tom Blackburne at 574-210-6686
NMLS # 1014118
George Blackburne IV at 916-338-3232
NMLS # 382122
Loans made under the California Finance Lenders Law.
Gray Hair Joke
I was having trouble with the idea of turning 30 and was oversensitive to any signs of advancing age. When I found a prominent gray hair in my bangs, I pointed to my forehead. "Have you seen this?" I indignantly asked my husband. "What?" he asked. "The wrinkles?"
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 - Five Short But Cool Fishing Videos
Includes locals catching fish in the bone, dry desert.
On a Personal Note
This month marks the 1 year anniversary of when I purchased my first house. It was a foreclosure, so I got a great deal on it - but the house needed a LOT of work. I was never very familiar with handiwork growing up, so all of the repairs I've had to learn by word of mouth or Youtube, of course haha. I am proud to say that by the end of October, my house will be completely remodeled...well, except for patching the garage...and painting the downstairs bathroom...and replacing the kitchen flooring. Ok, by the end of the month I will be mostly* done with the remodeling - I hope!
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 (R)
Today marks the 35th anniversary of the death of Sir Douglas Bader, and I couldn't let it pass without this story about the Royal Air Force hero. He was giving a talk at an upmarket girls' school about his time as a pilot in the Second World War.
"So there were two of the f***ers behind me, three f***ers to my right, and another f***er on the left," he told the audience. The headmistress went pale and interjected, "Ladies, the Fokker was a German aircraft." Sir Douglas replied, "That is true, madam, but these f***ers were in Messerschmitts."
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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