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 chat about three commercial loan products that are great for commercial real estate brokers. And, of course, like always, we have lots of cute, clean jokes, several funny pics, and an interesting video for you.
Joke Du Jour
It was very crowded at the supermarket, and the customer in front of me had a large order. As the harried-looking clerk lifted the final bag for her, its bottom gave way, sending the contents crashing to the floor. "They just don't make these bags like they used to," the clerk blurted to the customer. "That was supposed to happen in your driveway!"
Have You Ever Taken a Laser Pointer and Run Your Cat Ragged Chasing the Little Red Dot?
Private Money Commercial Loans Nationwide From
$100,000 to $3.5MM
Is your client's commercial property partially vacant? 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? We make slightly scratched-and-dented commercial loans.
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.
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.
Flight Delay Joke
A passenger on a Southwest flight says that he once faced a flight delay just before they boarded. A flight attendant picked up the microphone and announced, "We're sorry for the delay. The machine that normally rips the handles off your luggage is broken, so we're having to do it by hand. We should be finished and on our way shortly."
Cool Products For Commercial Brokers
A commercial broker is NOT a commercial mortgage broker, but rather a real estate broker who specializes in selling commercial real estate. Blackburne & Sons offers three products that are particularly useful to commercial brokers:
We raise preferred equity that helps buyers of commercial real estate buyers amass a downpayment large enough to satisfy the bank.
We offer one-point commercial property bridge loans that helps commercial brokers to convince antsy sellers to renew their listings. Simply complete this super-easy mini-app.
We allow the sellers of commercial property to carry back a second mortgage behind our new first mortgage. Simply complete this super-easy mini-app.
A man brings his wife a glass of water and two aspirins. She looks surprised and says, "I don't have a headache!" He says, "Aha!"
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. For more information, please call Tom Blackburne at (574) 210-6686.
A man went to a psychiatrist for his phobia. "Doc," he said, "I've got trouble. Every time I get into bed, I think there's somebody under it. I get under the bed, I think there's somebody on top of it. Top, under, top, under. You gotta help me, I'm going crazy!" "Just put yourself in my hands for two years," said the shrink, "Come to me three times a week, and I'll cure your fears." "How much do you charge?" "A hundred dollars per visit." "I'll sleep on it," said the man. Six months later the doctor met the man on the street. "Why didn't you ever come to see me again?" asked the psychiatrist. "For a hundred buck's a visit? A bartender cured me for ten dollars." "Is that so? How?" "He told me to cut the legs off the bed!"
I Am So Ashamed of Myself
New Apartment Program for "A" Deals
Because we have been in the commercial mortgage business for over 34 years, and because we own CommercialMortgage.com, Blackburne & Sons has been allowed to join just five other mortgage bankers to offer an incredible new apartment loan program for "A" quality deals. These loans close in our name and are sold to an institutional investor which purchased almost $400 million in apartment loans last year.
The 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.
Over the weekend Afghanistan held its presidential election run-off. The way it works is everyone runs off, and whoever's slowest has to be president of Afghanistan." -- 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.
Sharks Scare the Poop Out of Me
Cool video of a feeding Great White Shark.
On a Personal Note
Since it's inception, I have been a huge fan of the ABC show Shark Tank. If you are not familiar with the show, aspiring entrepreneurs pitch their business or product to a group of potential investors, called "sharks", seeking an investment deal. From the simple question of the last 12 months sales number to the always tricky and telling "customer acquisition cost" question, each entrepreneur is drilled on the spot, hence the name "Shark Tank." While most people crumble under the pressure and fail to make a deal, one will occasionally survive the "Shark Tank" and walk away with money needed to make their dreams come true.
After watching close to every episode, I have learned that there is a single common element to each deal. Despite the drastic range in products and business types, they always fulfill a specific need in the market. Here at Blackburne & Sons, we have several loan products that fulfill a need in the commercial mortgage market. We offer small balance preferred equity, 30/15 year private money loans and 1-point bridge loans, all of which can help you and your borrower get the money they need to make their dreams come true (and we are much nicer than the Shark Tank...) Please call me with any questions!
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 funeral procession is going up a steep hill on main street when the door of the hearse flies open, the coffin falls out, speeds down main street into a pharmacy and crashes into the counter. The lids pops open and the deceased says to the astonished pharmacist, "You got anything to stop this coffin?"
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.
DRE# - 01919403
BLACKBURNE & SONS REALTY CAPITAL CORPORATION
4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
Phone: (574) 210-6686
Fax: (916) 338-2328