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RESIDENTIAL LENDING NEWSLETTER
Volume 9: Issue 8 | July 27, 2020
You are receiving this letter because you are a client of either Blackburne & Sons or C-Loans, Inc. Removal instructions are below. Today we’ll discuss a super-cheap method of marketing that every businessman in every industry - mortgage ladies, doctors, dentists, chemical suppliers, everyone should use. We also have lots of cute, clean jokes, some funny pics, and a very disturbing video of the aftermath of the Minneapolis riots.
Attention:
We Are Looking For an Expert Witness in Commercial Real Estate Finance
You get paid for your valuable time, plus qualifying as an expert looks great on your resume. Here are the details.
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Joke Du Jour
As I was attempting to take a shower one day, my two-year-old little girl and my husband couldn't seem to stay out of the bathroom. They also kept leaving the door wide open. "So much for privacy," I thought. But there was a cool breeze coming into the bathroom too, and I was getting chilled. After asking them to shut the door several times, with no luck, I shouted gruffly, "Close the door! There's a draft in here!” My two-year-old daughter ran into the bathroom, shouting, "Where? Where? Where’s the giraffe?”
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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").
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Shark Joke
"Researchers in Hawaii recently put webcams on the fins of sharks so they could get a firsthand view of what the sharks see. The first thing they saw? A shark eating the guy who strapped a webcam on its fin.” — Jimmy Fallon
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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.
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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
Unfortunately these states are out:
- Idaho
- Minnesota
- Nevada
- North Dakota
- Oregon
- South Dakota
- Utah
- Vermont
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What about YOUR state? If you have a real-life deal, we’ll hire our attorney to quickly research its availability.
The property has to be non-owner occupied, and the purpose of the loan must be for business. Remember, 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.
Call or email your favorite loan representative by clicking their picture:
(916) 338-3232
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Listening Joke
I hate it when my wife says, "Are you listening to me?!” It’s such a random way to start a conversation.
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Bark Joke
We have an old tree that became diseased and was losing its bark. It needed a bark transplant, so we called a tree surgeon. The communication was unfortunately mangled, and when the surgeon arrived, he went to work on a tree across the street. He was halfway done when I noticed the error. I tried to stop him by yelling, "Stop! Stop! You're barking up the wrong tree!”
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Eggs Joke
It always irked my mother that her grocery store didn’t carry eggs in packages of six - just by the dozen. Then one day her wish came true. She walked into the grocery and found fresh eggs in cartons of six. She was so excited, she bought two!
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Fifteen-Year Fix-and-Flip Loans for Residential Properties
Most fix-and-flip lenders make one or two-year loans. If the market turned (a very real risk today) and houses stopped selling, the flipper might be forced to sell his cherry house at a loss in order to pay off the balloon. Had he had gotten a 30-year amortization, 15-year fix-and-flip loan from Blackburne & Sons, he could have simply rented out the property and enjoyed a positive cash flow until the time time was right to sell again.
Our fix-and-flip loans have no pre-payment penalty, so you can use them for 60 days or 15 years.
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Carpool Lane Joke
Cop: So, I’m writing you a ticket for driving alone in the carpool lane.
Criminal: You’re going to feel really stupid when you look in my trunk!
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The Blackburne List
The Blackburne List is a list of over 2,500 commercial lenders located nationwide. It 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.
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Hungry Joke
"Dad, I am hungry."
"Hi Hungry, I'm Dad."
"Dad, I'm serious."
"I thought you were Hungry?"
"Are you kidding me?"
"Nope, I'm Dad.”
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- Today's Observation -
Dirt Cheap Marketing For All Business Types
Every business has customers, clients, prospects, and industry contacts who can refer new customers to the company. Unless you happen to dislike money (haha), you need to keep your name and contact information regularly in front of these guys.
You could pay for TV or radio ads, but this kind of advertising is insanely expensive. Google ads? Same thing. Big $$$. Mass email advertising to strangers? Not only are mass email blasts to strangers illegal, but no one likes spam.
But newsletter advertising to existing customers, nibblers, and existing industry contacts is legal, ethical, very effective, and dirt cheap.
We here at Blackburne & Sons use iContact, an email blasting software company that charges us only $186 per month. Not only will iContact blast out your emails, but it will also maintain your databank of contacts and provide you with a newsletter template that will make you look like a billion dollar company.
So what do you include in your newsletter? Just imagine you’re meeting your contact after work for a beer. What kind of stuff would you tell him? A joke? A cool story? Maybe a funny meme? Some juicy gossip? It really doesn’t matter, as long as it's interesting.
That’s the trade-off. Your contacts permit you to display your name and contact information in return for being entertained.
Attention:
We Are Looking For an Expert Witness in Commercial Real Estate Finance
You get paid for your valuable time, plus qualifying as an expert looks great on your resume. Here are the details.
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Mayday Joke
Ralph was towing his boat home from a fishing trip in Jamaica Bay when his car broke down. He didn't have his cell phone with him, but he thought maybe he might be able to raise someone on his marine radio to call for roadside assistance. He climbed into his boat, clicked on the radio and said, "Mayday, mayday.” A Coast Guard officer came on and said, "State your location.” "I-95, two miles south of Cranston.” After a very long pause, the officer asked, "How fast were you going when you reached shore?”
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Are You Wise Enough To Pay Attention?
There are literally hundreds of private money mortgage companies out there today, and you can probably get a decent loan from most of them. But here’s the thing. Virtually all of these hard money shops are newbies (since 2009), and they are funds. The problem with hard money mortgage funds is that they don’t survive recessions. As soon as a recession hits, the investors rush to withdraw. Suddenly the hard money shop running the fund has no money with which to lend and earn loan fees. With little income coming in, the hard money shop closes.
Think I am full of beans? There were 300 hard money mortgage businesses in 2006. Fewer than ten survived.
Why do you care?
You have lost your relationship with these lenders! Success in real estate finance is all about relationships. Consider the fact that Blackburne & Sons has been in business for almost 40 years. We survived the S&L Crisis, the Dot-Com Meltdown, and the Great Recession. We were just about the only hard money shop in the country to remain in the market every day of the Great Recession.
Most of you will ignore this. The handful of wise investors and brokers will build a relationship with Blackburne & Sons. Winter is coming.
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Hungry for Commercial Loans Too
Blackburne & Sons is also looking for hard money first mortgage loans - up to $1.5 million - secured by commercial properties nationwide. Our private money loans almost never have a prepayment penalty.
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Scarface Joke
In Mexico authorities captured the world's most wanted drug kingpin. He was hiding in a tiny little apartment. It was very anti-climactic. It was like Scarface saying, "Say hello to my little… kitchenette.” — Craig Ferguson
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Girl Scout Cookies Joke
"A girl in San Francisco actually sold Girl Scout cookies at a medical marijuana clinic this week; which is why today she bought a mansion and retired.” — Jimmy Fallon
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Video - The Aftermath in Minneapolis
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Final Funny
I was out walking with my four-year-old daughter. She picked up something off the ground and started to put it in her mouth. I took the item away from her, and I asked her not to do that. Why?" my daughter asked. "Because it's been on the ground,” I replied. “You don't know where it's been, it's dirty, and probably has germs."
At this point, my daughter looked at me with total admiration and asked, "Mommy, how do you know all this stuff? You are so smart.” I was thinking quickly.” All moms know this stuff. It's on the Mommy Test. You have to know it, or they don't let you be a Mommy.” We walked along in silence for two or three minutes, but she was evidently pondering this new information.
“Oh, I get it!" she beamed, "So if you don't pass the test, you have to be the Daddy." “Exactly," I replied back with a big smile on my face.
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A member of the Blackburne Family of Companies
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4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
P: (916) 338-3232
F: (916) 338-2328
CA DRE #829677 // NMLS #103430
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