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RESIDENTIAL LENDING NEWSLETTER
Volume 9: Issue 11 | October 4, 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 China’s economic distress and the possibility of war with China. We also have lots of cute, clean jokes, some funny pics, and a wonderful dog video. Sooo cute!
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Joke Du Jour
An attorney was feeling deathly ill and went to the doctor. The doctor examined him and backed away, saying, "I'm sorry to tell you this, but you have an advanced case of highly-infectious rabies. You must have had it for some time. It will almost certainly be fatal."
"Could you give me a pen and paper?" asked the attorney. "Do you want to write your will?” asked the doctor. “No,” replied the attorney, "I want to make a list of all the people I’m going to bite.”
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Stork Joke
A boy was assigned a paper on childbirth and asked his parents, "How was I born?” "Well, Honey..." said the boy's mom, "the stork brought you to us.” "Oh," said the boy. "Well, how did you and daddy get born?" he asked. "Oh, the stork brought us too," chimed in the dad. "Well how were grandpa and grandma born?" he persisted. "Well darling, the stork brought them too!" said the mom.
Several days later, the boy handed in his paper to the teacher, who read with confusion the opening sentence: "This report has been very difficult to write because there hasn't been a natural childbirth in my family for three generations."
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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 Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oklahoma
- Pennsylvania
- Rhode Island
- South Carolina
- Tennessee
- Texas
- Virginia
- Washington
- West Virginia
- Wisconsin
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Unfortunately these states are out:
- Idaho
- Minnesota
- Nevada
- North Dakota
- Oregon
- South Dakota
- Utah
- Vermont
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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Union President Joke
A Union President was sitting at his son's bedside getting ready to read him a bedtime story. He starts out, "Once upon a time and a half…"
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- Today's Observation -
If China's Economy Starts to Stall,
President Xi Might Start a War
I think China has gotten massively battered in the past two years. The economic statistics coming out of China look just fine, but I don’t trust them. Just think about all of the economic body blows that China has recently absorbed.
It started with President Trump making it outright unpatriotic to move any more U.S. manufacturing plants to China. Maybe even a few manufacturing plants jobs have come home.
Then the U.S. slapped sanctions on many Chinese imports. Suddenly a few U.S. industries, like steel, could start to compete with China.
Trump’s hammering of China has resonated in Europe and throughout the Pacific Rim. You might hate Trump’s sharp New York tongue, but he has been very influential in shaping a worldwide distrust of China. International factories that otherwise might have been constructed in China are now going to Vietnam and India. On the margin, China has surely lost a few sales, if a reasonably priced competing product was available.
And then came the Coronavirus Crisis. Was the virus really created in a Chinese lab? Who knows? But President Trump has achieved some success convincing both Democrats and Republicans that China was to blame. This could NOT have been good for business in China.
On top of that, tens of thousands of Chinese small businesses must have failed during the Coronavirus Crisis. Eighty percent of all urban Chinese workers work for private businesses. Millions must have lost their jobs.
I am starting to see signs that China is running out of U.S. dollars, the currency the world uses to buy raw materials and to trade. They had something like $3 trillion in currency reserves several years ago. I think they are down to just $1 trillion. Be careful here. I could be totally wrong on these numbers; but I doubt seriously whether the Chinese have been able to add to their currency reserves in the past two years.
Why should you care? I exchanged emails with a Hong King citizen a month ago, and he pointed out that in a war, the U.S. could kill one billion Chinese citizens, and they would still have more people than we have.
President Xi of China has made himself president for life, so just one guy controls all $1.35 billion of them. The Chinese are graduating five times more engineering students than we are. In a war of attrition, we lose.
But why should you care? If the economy in China starts to suffer, and the people start to get restless, President Xi will start to lose political support. There is nothing like a war to rally the people around the flag.
I therefore predict that China will invade Taiwan within two and a half years.
The U.S. will have no choice but to enter into a full-fledged conventional war with China. If we lose that first row of islands - Taiwan, Guam, Senkaku, Diaoyu, and Okinawa - then the Solomons, Midway, Hawaii, and possibly even California would be next.
Imagine Chinese missile ships raining conventional but highly-accurate missiles down on California. Our military policy is to fight World War III out there, not on our own soil.
Fanciful? China now has more modern warships than the U.S. Navy. As I often tell my sons, “History doesn’t always happen to the other guy.”
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Bank Account Joke
Mother decided that 9-year-old Cathy should get something “practical" for her birthday. "Suppose we open a savings account for you?" mother suggested. Cathy was delighted. "It's your account, darling," mother said as they arrived at the bank, "so you fill out the application.” Cathy was doing fine until she came to the space for "Name of your former bank." After a slight hesitation, she put down “Piggy.”
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Vasectomy Joke
One day, after a man had his annual physical, the doctor came out and said, "You had a great checkup. Is there anything that you'd like to talk about or ask me?” "Well," he said, "I was thinking about getting a vasectomy.” "That's a pretty big decision. Have you talked it over with your family?” "Yeah, and they're in favor 12 to 1.”
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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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Texting Joke
Me (texting): "Are we still on for today?"
Reply Received: "You don’t have to text me this every morning! As your boss, trust me when I say, WE ARE ‘ON' FOR WORK EVERY DAY, MON - FRI!”
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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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Congress Joke
Working on Capitol Hill, my husband was under constant pressure. After one late-night session, he came home exhausted and went straight to bed. When I turned out the light, he sat up in a panic. "Is everything okay in the house?" he asked. "Yes, honey," I answered. "I locked the doors and turned down the heat.” "That's good," he said, lying back down, his eyelids heavy. "What about the Senate?”
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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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Vacation Joke
My friend Jim told me that when he asked his wife where she wanted to go on vacation, she said that being married to him was a vacation. When I commented that was a nice thing to say to him, Jim replied, "Well, actually, what she said was I was the 'last resort.'"
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Election Fraud Joke
"An 11-year-old boy in Florida was able to hack into a state elections website and change results in under 10 minutes; so get ready to meet Florida's next governor, Fortnite McDeadpool.” — Jimmy Fallon
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Video - Hilarious Dog Compilation
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Final Funny
The devil told the pope, "No one in the world has a better memory than I do.” The Pope responded, “Really? Well I know this Native American guy who has the best memory in the world, and I'll even prove it.” Then the devil replied, "OK, I'll take your offer and if I have a better memory I get your soul.” "It's a deal" replied the Pope. Then they shook hands to make the deal official.
They went to a remote village in North America. There they met Roaming Bull, the Native American the Pope was talking about. The devil asked him, "Do you like eggs?” The Native American replied, "Yes."
Fifty years passed. Everyone is still alive and have forgotten about the deal; however, the devil still remembered the deal. He went back to the village and greeted the Native American, saying, "How.” Roaming Bull replied, "Scrambled."
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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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