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 finance borrowers in a Chapter 11 bankruptcy. We also have lots of cute, clean jokes, some funny pics, and a video of some cats fighting some vicious cucumbers.
Joke Du Jour
Q: What did the snail say when riding on a turtle?
A: Weeeee! :-)
With Five Cats, Evenings Are Seldom Boring at Casa de Blackburne
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.
American Dream Joke
"New research shows that China has a bigger middle class than America, and more people in China are living what we would call the 'American Dream.' That's when you know things are bad - when even the American DREAM is made in China." -- Jimmy Fallon
DIP Financing
DIP financing is short for debtor-in-possession financing. When a borrower files a Chapter 11 bankruptcy, the reorganization kind of bankruptcy, he retains title and possession of his assets. He is called a debtor-in-possession. The bankruptcy court stays (stops) any further collection action against him while he prepares a plan of reorganization that will repay his creditors in full.
While the debtor is in Chapter 11, it is possible to obtain, with the permission of the court, new financing that will be senior to all existing debt. The debtor must convince the court and a committee of his creditors that the cash infusion will allow him to pays his debts in full.
This type of bankruptcy financing is called DIP financing, and Blackburne & Sons makes DIP loans.
I just wrote a wonderful blog article that explains DIP financing using a real-life example. All of my 400 blog articles are free training lessons in commercial real estate finance. If you want to become a more successful commercial mortgage broker, be sure to subscribe to my free blog.
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 commercial loan.
CommercialMortgage.com ("CMDC") is also 100% free!
Exercise Joke
Two overweight, middle-aged women are on their daily walk. They were discussing how hard it is to lose weight as one gets older. One woman complained that she remained apple-shaped. The other woman said that no matter how much she exercised, there was too much fat on her backside and thighs, and it seemed like it was there to stay. Her friend agreed, saying, "It's true. The lard works in mysterious ways."
Get a Free Commercial Mortgage Marketing Course
We sell this course separately for $199. Click here to get your free commercial mortgage marketing course.
Snow White Joke
This mother tells the story: When my daughter was three, we watched Snow White and The Seven Dwarfs for the first time. The wicked queen appeared, disguised as an old lady selling apples, and my daughter was spellbound. Then Snow White took a bite of the poisoned apple and fell to the ground unconscious. As the apple rolled away, my daughter spoke up, "See, Mom, she doesn't like the skin either."
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.
As My Cat Headed Out One Evening...
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.
Umbrella Joke
A 90-year-old man said to his doctor, "I've never felt better. I have an 18-year-old bride who is pregnant with my child. What do you think about that?"
The doctor considered his question for a minute and then said, "I have an elderly friend who is a hunter and never misses a season. One day when he was going out in a bit of a hurry, he accidentally picked up his umbrella instead of his gun. When he got to the creek, he saw a beaver sitting beside the stream. He raised his umbrella and went, 'bang, bang', and the beaver fell dead. What do you think of that?"
The 90-year-old said, "I'd say somebody else shot that beaver." The doctor replied, "My point exactly."
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, and using C-Loans you can actually submit your loan to 750 commercial lenders and get the ball rolling.
Sadly, Body Issues Start Early
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.
Three Beers Joke
An Irishman walks into a pub and orders three beers. The bartender brings him the three beers, and the man proceeds to alternately sip one, then the other, then the third, until they're gone. When he orders three more, the bartender says, "Sir, don't you like your beer cold? Why don't you start with one, and I'll bring you a fresh one as soon as you're low."
The man says, "You don't understand. I have two brothers, one in Austria and one in America. We made a vow to each other when they moved away that every Saturday night, we'd still drink together. So right now, my brothers have three beers too, and we're drinking together."The bartender thinks it's a wonderful tradition, and every week he sets up the guy's three beers.
Then one week, the man comes in and orders only two. He drinks them and then orders two more. The bartender says sadly, "Knowing your tradition, I'd just like to say that I hope nothing has happened to one of your brothers." The man replies, "Oh, my brothers are fine -- I just quit drinking."
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 a 15-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:
Tom Blackburne at 574-210-6686
NMLS # 1014118
Loans made under the California Finance Lenders Law.
Estate Planning Joke
Now that they are retired, my mother and father are discussing all aspects of their future. "What will you do if I die before you do?" Dad asked Mom. After some thought, she said that she'd probably look for a house-sharing situation with three other single or widowed women who might be a little younger than herself, since she is so active for her age. Then Mom asked Dad, "What will you do if I die first?" He replied, "Probably the same thing."
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.
Funny, Funny Video
Cats battling cucumbers. Really funny.
On a Personal Note
This past weekend I went on an adventurous trip with my girlfriend, Alex. Our trip started off with a two hour drive directly south to a historic town called French Lick, Indiana. There, we went on an informative train ride that took us deep through the forest. The train was so old that it even broke down for an hour before they were able to fix it! We then drove another two hours south to Evansville, IN - a town on the Ohio river. There we did a ghost tour (we didn't see "The Gray Lady") and stayed in a 200-year-old bed and breakfast. The morning after, we went on a boated cave tour, one hundred feet underground. The cave was incredibly eerie, dark, and cold. The water was crystal clear with a blueish tint, while the cave walls were littered with frogs and the occasional albino crayfish. We opted out of the last leg of the tour where you are to lie down in the boat and shimmy your way for about 20 feet before entering into the next stretch of cave routes. Apparently we are claustrophobic!
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)
An elderly couple were at home watching TV. Phil had the remote and was switching back and forth between a fishing channel and an adult entertainment channel. Mary became more and more annoyed and finally said, "For God's sake, Phil, leave it on the adult channel. You already know how to fish!"
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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