Volume 8: Issue 7 | Date: July 7, 2020
|
|
|
|
|
COMMERCIAL BROKER NEWSLETTER
You are receiving this letter because you either wrote to us or you are a commercial real estate broker client of either Blackburne & Sons or C-Loans, Inc. Today we’ll discuss finding a home for your commercial loan during this recessionary period. As always, we have lots of cute, clean jokes, funny pictures, and a video of what it's like being stung by a Murder Hornet.
|
|
|
|
|
|
|
Joke Du Jour
The World Health Organization has determined that dogs cannot contract Covid-19. Dogs previously being held in quarantine will be released. To be clear, WHO let the dogs out.
|
|
|
|
|
|
|
Free Commercial Loan Software
C-Loans has just developed some brand new commercial loan software that is super-easy to use, even for a complete newbie to commercial real estate finance. You just fill in the blanks. You can then take your professional-looking commercial loan package and submit it to any lender in the country. This new commercial loan software is also 100% free.
|
|
|
|
|
|
|
Private Money Commercial Permanent Loans
From $100K to $1.5M Nationwide
Click HERE to Apply Now!
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.
|
|
|
|
|
|
|
Have a deal to run by me? Click HERE
Alicia Gandy
Loan Representative
P: (916) 338-3232 Ext. 310
gandy@blackburne.com
NMLS #389678
CA DRE #01430908
|
|
|
|
|
|
|
|
|
|
Mad Joke
Wife: "I'm mad!"
Husband: "Again or still?"
|
|
|
|
|
|
|
Commercial Mortgage Rates Today
Here are today's commercial mortgage interest rates for permanent loans from banks, SBA 7a loans, CMBS permanent loans from conduits, and commercial construction loans. Be sure to bookmark our Commercial Loan Resource Center, where you will always find the latest interest rates on commercial loans; a portal where you can apply to 750 different commercial lenders in just four minutes; four huge databanks of commercial real estate lenders; a Glossary of Commercial Loan Terms, including such advanced terms as defeasance, CTL Financing, this strange new Debt Yield Ratio (which is different from the Debt Service Coverage Ratio), mezzanine loans, preferred equity, and hundreds of other advanced terms; and a wonderful Frequently Asked Questions section, which is designed to train real estate investors and professionals in the advanced subject areas of commercial real estate finance ("CREF").
|
|
|
|
|
|
|
Dinner Joke
I came home from work this evening and asked my wife, "Are we having salad for dinner?” "Yes we are. How did you know?" she asked. I replied, "Because I can't hear the smoke alarm."
|
|
|
|
|
|
|
Business Purpose Rental Home Loans in Most States
Click HERE to Apply Now!
Please pay special attention to the following: Unlike other hard money brokers, Blackburne & Sons Realty Capital Corporation makes home loans with a 15-year term (30-year amortization), and there is NO prepayment penalty. Our competitors make just three-year or five-year bridge loans. Our loans are clearly better because you may want to hold the property. These loans are sometimes known as buy-to-rent loans.
Historically, Blackburne & Sons was mostly a commercial lender. This has now changed. We are aggressively aggressively seeking non-owner occupied home loans. We have already closed loans in the following states, and our attorney can quickly research your state to verify that we can lend there. Unfortunately, in a handful of states, an NMLS license is not enough.
|
|
|
|
|
|
|
Commercial: NATIONWIDE
Residential:
- Alaska
- Arizona
- California
- Delaware
- Florida
- Georgia
- Hawaii
- Indiana
- Louisiana
- Maryland
- Michigan
- Missouri
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oklahoma
- Pennsylvania
- Rhode Island
- South Carolina
- Tennessee
- Texas
- Virginia
- Washington
- West Virginia
- Wisconsin
|
These states are out:
- Idaho
- Minnesota
- Nevada
- North Dakota
- Oregon
- South Dakota
- Utah
- Vermont
|
|
|
|
|
|
|
|
|
|
|
|
|
Don't see YOUR state listed above? If you have a real-life deal, we’ll hire our attorney to quickly research its availability.
Alicia Gandy
Loan Representative
P: (916) 338-3232 Ext. 310
gandy@blackburne.com
NMLS #389678
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 30-year amortization, a 15-year term and no prepayment penalty.
|
|
|
|
|
|
|
Attention Joke
I was struggling to get my wife’s attention, so I simply sat down and looked comfortable. That did the trick.
|
|
|
|
|
|
|
- Today's Opportunity -
Here's How to Find a Lender
in Today's Market
After having survived the S&L Crisis, the Dot-Com Meltdown, and the Great Recession, when commercial real estate fell by almost exactly 45% each time, I can tell you that the banks are going to be very, very slow in returning to the commercial real estate lending market.
But here’s the thing: On different days, in different markets, on different property types, different banks are going to pop in and out of the market. They are going to make one or two commercial loans, and then they are going to jump back out of the market. It’s a confidence thing. One day the CEO is convinced that the worst is over. The next day he will read a scary article in the Wall Street Journal, and the bank will be out of the market again. This will probably continue for at least 18 more months, if not longer.
Okay, so what do you do? The answer is that you may have to submit your commercial loan request to as many as sixty different banks before finding the right home for it. Sound impossible? It’s not. Just make a PDF of your loan package and send it to each bank by email. Voila! You’ll be surprised how fast the process goes.
The easiest way to accomplish this is by using C-Loans.com. Not only do we give you a free list of twenty to forty suitable lenders, but you can also quickly make your C-Loans app into a PDF. Then you can submit that PDF to twenty to forty of your own banks as well. This is a numbers game.
|
|
|
|
|
|
|
Carded Joke
The other day I got carded at the liquor store. While I was taking out my ID, my old Blockbuster card fell out. The clerk shook his head, said, “Never mind,” and rang me up.
|
|
|
|
|
|
|
Submit Your “A” Quality Commercial Loans on C-Loans
You old veterans know that commercial lenders are incredibly fickle. One moment a bank loves self storage loans, and the next moment - usually after taking a loss - it wouldn't touch a self storage facility loan with a ten-foot pole. C-Loans.com is a commercial mortgage portal that was designed with commercial lender fickleness in mind.
You fill out one mini-app, and then you can submit your commercial loan application to bank after bank, six at a time, until you find a bank hungry to make a commercial loan today.
Borrowers and commercial brokers have closed over 1,000 commercial real estate loans totaling over $1 billion, so C-Loans clearly works. And C-Loans.com is FREE!
Apply for a loan now!
|
|
|
|
|
|
|
Glasses Joke
A man went to his doctor and said, "Help me, doctor. I think my eyesight is getting worse.” The doctor asked the man to look out the window. "Tell me what you see," he said, pointing. "I see the sun," the man replied. The doctor turned to him and asked, "Just how much farther do you want to see?"
|
|
|
|
|
|
|
Hot-To-Trot To Make Fix and Flip Loans
Blackburne & Sons is making a huge push into fix and flip lending. Of course we will still make our private money permanent loans on commercial properties nationwide; but we are now also making fix and flip loans across the country.
Please click here to submit a fix and flip loan or a hard money commercial loan or call me, Alicia Gandy, at (916) 338-3232.
|
|
|
|
|
|
|
Waiting List Joke
Maury and his wife showed up to a very popular restaurant, but it was very crowded. Mrs. Maury went up to the hostess and asked, "Will it be long?” The hostess appeared to ignore her and kept writing in her book, so she asked again, "How much of a wait?” The hostess then looked up and said, "About ten minutes.” A short time later they heard an announcement over the loudspeaker, "Willete B. Long, your table is ready."
|
|
|
|
|
|
|
Burglary Joke
Victim (after burglary): "They stole everything from my house but the soap and towels.”
Policeman: "Why, those dirty crooks!"
|
|
|
|
|
|
|
Free Copy of The Blackburne List
Click here to get a free list of 200 commercial lenders, including at least five for every state.
The Blackburne List is a list of over 2,500 commercial lenders located nationwide. We spent almost $30,000 and three months updating this list, and we just finished updating it in 2019.
The Blackburne List is available for purchase for just $79.95 at CommercialLenders.com. Is money tight? You can also buy one of our three Regional Lists (750+ lenders) for just $39.95.
You can also search The Blackburne List using CommercialMortgage.com for free.
|
|
|
|
|
|
|
Baby Lunch Joke
My husband is wonderful with our baby daughter, but he often turns to me for advice. Recently I was in the shower when he poked his head in to ask, "What should I feed Lily for lunch?” "That's up to you," I replied. "There's all kinds of food. Why don't you pretend I'm not home?” A few minutes later, my cell phone rang. I answered it to hear my husband saying, "Yeah, hi, honey. Uh…what should I feed Lily for lunch?"
|
|
|
|
|
|
|
Only Blackburne & Sons Can Do This
Blackburne & Sons has some truly unique and super cool programs:
- We'll give you a bridge loan on your commercial property for only one point! There is no prepayment penalty.
- We allow sellers to carry back a second mortgage behind our first mortgage.
- We will actually lend up to a 75% loan-to-value ration. Banks claim they will lend up to 75% LTV, but in real life they will only go 68% LTV.
- We offer private money (loose-goosey underwriting) commercial loans with 30-year payments and a 15-year term. Our competitors offer 2 to 3-year bridge loans. We offer 15-year permanent loans with no prepayment penalty. Never again will you have a balloon payment come due during a recession.
- We buy commercial first mortgages (usually at a discount).
|
|
|
|
|
|
|
Pediatrician Joke
We brought our newborn son, Adam, to the pediatrician for his first checkup. As he finished, the doctor told us, "You have a cute baby.” Smiling, I said, "I bet you say that to all new parents.” "No," he replied, "just to those whose babies really are good looking.” "So what do you say to the others?" I asked. "He looks just like you."
|
|
|
|
|
|
|
Two Ways To Earn Referral Fees for Commercial Loans
We Once Paid $21,250
This is an absolute no-brainer. You simply put a link to C-Loans.com on your real estate website. We once paid a $21,250 referral fee to a guy who was asleep when the lead came in! Here are the details.
You can also refer commercial loans by hand. Simply insert your referrals here.
|
|
|
|
|
|
|
On a Personal Note
This past weekend we had a housewarming party for my daughter and her boyfriend. They purchased their first home and during the Covid 19 pandemic! A pretty crazy time to be doing anything, let alone purchasing a home. However everything worked out in the end, and they moved in their house in early April. It’s a beautiful 1380 SF, 3 bedroom 2 bathroom home. The party was a great turnout and they got a lot of very nice gifts. I am so happy for them. She turns 25 this Wednesday and I am one proud momma!
|
|
|
|
|
|
|
Have a deal to run by me? Click HERE
Alicia Gandy
Loan Representative
P: (916) 338-3232 Ext. 310
gandy@blackburne.com
NMLS #389678
CA DRE #01430908
|
|
|
|
|
|
|
|
|
|
|
Video - Being Stung By A Murder Hornet
|
|
|
|
|
|
|
|
|
FREE Commercial Loan Brokerage Training
From an Industry Veteran And Attorney
The C-Loans Blog: info.c-loans.com
Every week we publish one or two new blog articles that train commercial brokers in commercial real estate finance. We try to have fun with it, including lots of funny pics. If you want access to this FREE training, subscribe to George's blog by clicking the button below.
|
|
|
|
|
|
|
|
|
|
Final Funny
A man having lunch at a Chinese restaurant noticed that the table had been set with forks, not chopsticks. He asked why. The waiter said, "Chopsticks are provided only on request."
"But," the man countered, "if you gave your patrons chopsticks, you wouldn't have to pay someone to wash all the forks."
"True," the waiter shot back, "but we'd have to hire two more people to sweep the floor."
|
|
|
|
|
|
|
Members of the Blackburne Family of Companies
|
|
|
|
|
|
|
CA DRE #829677
NMLS #103430
|
|
|
|
P: (916) 338-3232
F: (916) 338-2328
4811 Chippendale Dr, Ste. 101
Sacramento, CA 95841
|
|
|
|
CA DRE #1330173
NMLS #167100
|
|
|
|
|
|
