Baby, It's Cold Outside... But C-Loans is on Fire!
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February 1, 2019
Brrrrrrrr! Much of the country has been experiencing some of the harshest weather on record. But the bitter cold hasn't stopped the closings from falling! Five closings in the month of January is a GREAT way to start off the new year.
Special thanks to the following Loan Officers for their hard work in getting these deals done despite the nasty weather:
George Blackburne, IV
Blackburne & Sons Realty Capital
Gary Polao / Vito Piche
Red Start Mortgage
Les Agisim
Trevor Cole Commercial
Alicia Gandy
Blackburne & Sons Realty Capital
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Blackburne & Sons closes a $200,000 refinance of a commercial building in Asheboro, NC
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Highlights:
55% LTV
9.9% IR
30/15/5 Amortization/Term
Hurdles:
This property was not seasoned and seriously lacked cash-flow. Additionally the out-of-state borrowers wanted cash-out. However, the credit worthiness, quality of construction, and strength of newly signed lease had this deal doable.
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Red Star Mortgage closes a $500,0000 refinance of an apartment complex in Cleveland, OH
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Highlights:
80% LTV
7.9% IR
30/10 Amortization/Term
Hurdles:
The leases were below-market, the property wasn't seasoned, and the deal demanded for a higher Loan to Value ratio.
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TCRM closes a $450,000 bridge loan of an apartment complex in Chicago, IL
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Highlights:
60% LTV
8.9% IR
30/15/5 Amortization/Term
Hurdles:
The borrower had some credit issues, the property was older and located in an older part of town.
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TCRM closes a $1,200,000 bridge loan of an industrial building in Littleton, NC
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Highlights:
65% LTV
8.9% IR
36mo Interest Only Term
Hurdles:
The borrower was a successful restaurant owner that needed additional funds to complete his new restaurant build.
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Blackburne & Sons closes a $120,000 purchase of an office building in Jacksonville, FL
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Highlights:
70% LTV
8.9% IR
30/15/5 Amortization/Term
Hurdles:
The borrower suffered an injury that resulted in some large medical bills. While our borrower worked hard to pay back the bills, their credit suffered greatly.
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Not familiar with how C-Loans works?
Take 2 minutes to watch my video below.
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C-Loans.com is a commercial mortgage portal allows you to apply to 750 commercial real estate lenders in just four minutes. You simply input your commercial loan request. The C-Loans® System will then screen out all of the unsuitable commercial lenders and provide you with a list of 30 (or so) banks which are perfect for your particular commercial real estate loan request. You can then call these banks, life companies, conduits, REIT’s or hard money lenders directly or submit your commercial loan request electronically, six commercial lenders at a time. And C-Loans® is free! Commercial loans and commercial mortgage rates can be found inside this portal.
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Learn to Broker Commercial Mortgage Loans for just $549
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Learn How to Easily Find Hundreds of Commercial Mortgage Loans. Learn How to Quickly Underwrite the Deals. Learn Over 100 New Commercial Mortgage Finance Terms. Get That Confidence You Know You've Been Lacking. Learn Exactly Where to Place Your Loan. Access to Hundreds of Lenders. Learn How to Package Your Deal.
Most Important of All - Learn How to Collect Your Fee. Just $549.
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www.C-Loans.com
P: (574) 210-6686
F: (916) 338-2328
4811 Chippendale Drive
Suite 101
Sacramento, CA 95841
CA DRE #1330173
NMLS #167100
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Tom Blackburne
General Manager
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