|
Volume 10: Issue 4 | Date: June 16, 2020
|
|
|
|
|
|
|
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 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.
|
|
|
|
|
|
|
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."
|
|
|
|
|
|
|
Still Making Nationwide Permanent Loans From $100K to $1.5M
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, George IV, at (916) 338-3232 Ext. 314.
|
|
|
|
|
|
|
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.
|
|
|
|
|
|
|
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 Loans: NATIONWIDE
|
|
|
|
|
|
|
|
|
|
Don't see YOUR state listed above? If you have a real-life deal, we’ll hire our attorney to quickly research its availability. Call or email me today!
George Blackburne IV
Loan Representative
P: (916) 338-3232 Ext. 314
georgeiv@blackburne.com
NMLS #382122
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.
|
|
|
|
|
|
|
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 Using 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. Mortgage brokers like you have closed over 1,000 commercial real estate loans totaling over $1 billion, so C-Loans clearly works. And C-Loans.com is free!
|
|
|
|
|
|
|
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?"
|
|
|
|
|
|
|
Free Commercial Loan Placement Kit
Includes a list of 200 commercial lenders and a short (5 minutes), superb video on structured finance (mezzanine loans, preferred equity, and venture equity). Go here.
|
|
|
|
|
|
|
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."
|
|
|
|
|
|
|
CommercialMortgage.com
Just Keeps Getting Better and Better
Every day we add two to five new banks and credit unions to CommercialMortgage.com. With almost 4,000 banks, credit unions, and other commercial lenders, CommercialMortgage.com is by far the largest databank of commercial lenders in the country.
Do you understand that CommercialMortgage.com is absolutely free to use? The lenders listed do NOT jack up their loan fee in order to pay a software licensing fee to C-Loans, Inc. One of the most successful commercial mortgage brokers in the entire country is Les Agisim of Trevor Cole Commercial, and Les uses CommercialMortgage.com all of the time. You would be wise to do what the successful guys do.
|
|
|
|
|
|
|
|
|
|
Burglary Joke
Victim (after burglary): "They stole everything from my house but the soap and towels.”
Policeman: "Why, those dirty crooks!"
|
|
|
|
|
|
|
|
Learn Commercial Real Estate Finance - 9 Hour Video Training Course
|
|
|
|
|
|
|
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?"
|
|
|
|
|
|
|
It's the Loan Servicing Income, Folks
No one ever listens to me. Please pay attention! The money in the mortgage industry is in loan servicing fees, and servicing loans is easy. For your first 50 deals, you can just hire a sub-servicing company for $40 per loan per month. I charge my investors $1,583 per month (!!!) for servicing a one-million dollar loan. $1,580 per month minus $40 equals...
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 over $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? Four-hour video course. Find your own private mortgage investors.
|
|
|
|
|
|
|
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."
|
|
|
|
|
|
|
Brazilian Joke
I'm sitting in a cafeteria next to a woman who was engrossed in her newspaper. One of the headlines blared: "12 Brazilian Soldiers Killed." She shook her head at the sad news. Then, turning to me, she asked, "How many is a Brazilian?"
|
|
|
|
|
|
|
The Blackburne List - Updated in 2019
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.
|
|
|
|
|
|
|
Fetch Joke
I trained my dog to fetch me beer… It may not sound too impressive, but he gets them from the neighbors fridge!
|
|
|
|
|
|
|
Have You Been Screwed Out of a Big Loan Fee Yet?
Whenever someone boasts of being a good horseman, I always ask him, “Have you ever been thrown?” The correct answer is, “Many, many times”. There is an old saying, “If you ain’t been thrown, you ain't ridden very much.”
The same is unfortunately true of commercial mortgage brokerage. You will screwed out of a loan fee of $10,000 or more at least twice per year for your entire career. Now I am NOT talking about the borrower closing the loan and not paying you. That rarely happens. What these dastardly borrowers do is lie to you or cancel on you.
You would be a flipping idiot not to pay a lousy $199 for my ninety-minute video training course, Fee Collection For Commercial Mortgage Brokers. It includes my famous fee agreement. Go ahead and ignore this section. You will cry, I absolutely guarantee you.
|
|
|
|
|
|
|
Letter to Santa Joke
"Last week, a 90-year-old letter to Santa Claus was found in a chimney. On the bright side, the 96-year-old who wrote the letter is still alive and finally got that tricycle.” — Conan O'Brien
|
|
|
|
|
|
|
Commercial Mortgage Marketing Course
Need commercial mortgage leads? This Commercial Mortgage Marketing Course will teach you how to turn on a flow of commercial leads as easily as turning on a spigot.
|
|
|
|
|
|
|
Long Pizza Joke
"Italian chefs recently set a new world record after making a mile-long pizza that took five ovens and over 11 hours to bake. It got weird when the person who ordered the pizza was like, 'Ooh, I said no pepperoni.'" -Jimmy Fallon
|
|
|
|
|
|
|
Life Preserver Joke
While at a marine-supply store stocking up on equipment for my boat, I also purchased an inflatable life preserver. "It was my wife's idea," I explained to the grizzled salesman at the counter. "She's buying it for me as a gift."
|
|
|
|
|
|
|
On a Personal Note
One positive effect of the COVID-19 lockdowns is that they have forced me to appreciate freedoms that were often overlooked. One overlooked freedom is the ability to travel. Since I left home, I would make at least 2 pilgrimages a year back to my family in Indiana. These trips became almost automatic. They were almost always on the same weeks, I would take the same flights etc. but now they aren’t really an option. I realize now how lucky I was to be able to see my family on a regular basis when so many others were not able to. I was lucky to be able to see my family as much as I did. That being said, it is pretty unfortunate we are not able to travel freely as my niece, Salem Rose Blackburne, was born in December of 2019. Unfortunately due to COVID-19, I have never seen her in person. The frequent family Zoom meetings are helping, but I am looking forward to the day when I can hold her in person. Hopefully it will be soon. In meantime, we all need to stay safe and appreciate the little things.
|
|
|
|
|
|
|
|
|
|
George Blackburne IV
Loan Representative
(916) 338-3232 Ext. 314
georgeiv@blackburne.com
NMLS #382122
CA DRE #01873244
|
|
|
|
|
|
|
|
Video - Getting Stung By A Murder Hornet
|
|
|
|
|
|
|
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
|
4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
P: (916) 338-3232
F: (916) 338-2328
CA DRE #00829677 // NMLS #103430
|
|
|
|
|
|
|
|
|
