Mortgage Stuff Newsletter - Equity Lines of Credit on Commercial PropertiesLoans
Volume 14 Issue 8

Newsletter Date: July 21, 2014


MORTGAGE STUFF (C-Loans Client Letter)

You are receiving this letter because you are a commercial mortgage broker client of either Blackburne & Sons or C-Loans, Inc. Removal instructions are below. Today we'll talk equity lines of credit on commercial property. And as always, we have lots of great jokes, funny pics, and a hilarious video for you today too.

Joke Du Jour

Several years ago, when I lived in New York and flew to customer sites often, my wife would usually drop me off at Newark (N.J.) airport and pick me up when I returned. On one trip, I was only going to be gone for a few days, so I drove myself, and parked the car at Newark. When I returned, the weather was lousy, and it was late at night. I wanted nothing more than to get home to the comfort of my wife and my own bed. When I arrived, the storm was very loud, with crashing thunder and severe lightning. As I came into my bedroom about 2 a.m., I found my two children, Alex (3) and Cindy (12), in bed with my wife, Carolyn, apparently scared by the loud storm. I resigned myself to sleeping in the guest bedroom that night. The next day, I talked to the children, and explained that it was okay to sleep with Mom when the storm was bad, but when I was expected home, please don't sleep with Mom that night. They said okay.

After my next trip several weeks later, Carolyn and the children picked me up in the terminal at the appointed time. Since the plane was late, everyone had come into the terminal to wait for my plane's arrival, along with hundreds of other folks waiting for their arriving passengers. As I entered the waiting area, Alex saw me, and came running shouting "Hi, Dad! I've got some good news!" As I waved back, I said loudly, "Hi, Alex! And what is the good news?" "The good news is that nobody slept with Mommy while you were away this time!" Alex shouted. The airport became very quiet, as everyone in the waiting area looked at Alex, then turned to me, and then searched the rest of the area to see if they could figure out exactly who his Mom was.

This Terrifying Animal Just Came Up and Took It

Submit Your Commercial Mortgage App Today

Blackburne & Sons continues to seek first mortgages between $100,000 to $3.5 million on standing commercial properties nationwide. Our hottest product right now is our blanket loan against a portfolio of rental homes. We'll also hypothecate notes and buy commercial loans at a discount.

Please be sure to bookmark our commercial mortgage rate sheet right now. To apply for a private money commercial loan from Blackburne & Sons, please find your favorite loan officer below:

Tom Blackburne: 574-210-6686
To apply to Tom online, please click here.

Alicia Gandy: 916-338-3232
To apply to Alicia online, please click here.

Desmond Stoll: 916-338-3232
To apply to Desmond online, please click here.

Rabbit Joke

The LAPD, The FBI, and the CIA are all trying to prove that they are the best at apprehending criminals. The President decides to give them a test. He releases a rabbit into a forest and each of them has to catch it. The CIA goes in. They place animal informants throughout the forest. They question all plant and mineral witnesses. After three months of extensive investigations they conclude that rabbits do not exist. The FBI goes in. After two weeks with no leads they burn the forest, killing everything in it, including the rabbit, and they make no apologies. The rabbit had it coming. The LAPD goes in. They come out two hours later with a badly beaten bear. The bear is yelling, "Okay! Okay! I'm a rabbit! I'm a rabbit!"

Lines of Credit on Commercial Property

This will surprise you. Even though home equity lines of credit (HELOC's) are everywhere, there is NO equivalent in commercial real estate finace. Banks almost NEVER make second mortgage lines of credit on commercial property.

In fact, conduits and almost all commercial banks will no longer allow any type of second mortgage behind their new first mortgages. This is why Blackburne & Sons has become the ONLY small balance preferred equity provider in the country.

Do you really understand preferred equity? This free whitepaper will help you to truly understand it. It's written in easy-to-understand layman's language.

You'll use preferred equity in three common scenarios. (1) You have an investor buying a non-owner-user commercial-investment property. The bank refuses to make a first mortgage larger than 60% LTV. The buyer only wants to put down 25%. We'll cover the gap. (2) Your client has a balloon payment coming due, but he can't qualify for a new first mortgage large enough to pay off the old first mortgage. We'll cover the gap. (3) Your client wants to buy out an impossible partner. We'll provide the capital to buy him out.

Got a potential preferred equity deal? Call your favorite B&S loan officer:

Alicia Gandy: 916-338-3232
To apply to Alicia online, please click here.

Desmond Stoll: 916-338-3232
To apply to Desmond online, please click here.

Tom Blackburne: 574-210-6686
To apply to Tom online, please click here.

Factoid on Woody Harrelson

Woody Harrelson's father was an assassin. Charles Voyde Harrelson, actor Woody Harrelson’s estranged father, was a hitman convicted of killing a federal judge. Even more scandalous, he also claimed to have killed President John F. Kennedy.

Free Written Directory of 2,000 Commercial Lenders

Please notice I said TWO THOUSAND commercial lenders, not just 200. Imagine if you had scores and scores of commercial lenders for every deal. And did I mention it was free? To get your free list.

Why I Never Get To Sleep In

Tiny Preferred Equity "Loans"

Suppose your client is trying to buy a commercial-investment property, like a non-owner-occupied office building. You take the deal to the bank, but the bank cuts the deal back to just 58% loan-to-value. The borrower is screaming at you because he only wants to put 25% down, and the deal cash flows perfectly at 75% LTV. The bank is just a scarety-cat.

If only there was a capital source which would add its equity to your client's 25% down payment to create a down payment large enough to satisfy the bank...

Blackburne & Sons will make tiny preferred equity investments (sort of like a second mortgage loan) that will take you from 58% LTV up to a 75% CLTV.

In many cases, the mortgage banker who wins the deal is the guy who can get his borrower the most leverage, so you really should promote the heck out of our new preferred equity program.

Hilarious Animal Video

Moves right along - pretty clever.

Dr. Seuss Factoid

Dr. Seuss wrote "Green Eggs and Ham" using only 50 different words. Dr. Seuss produced one of his most popular works on a bet that he couldn’t write a whole book in 50 or fewer words. Seuss won the bet by using only 50 different words in “Green Eggs and Ham.” The only word in the book that is more than one syllable is anywhere.

One-Point Commercial Bridge Loans

Please don't forget about Blackburne & Sons' one-point bridge loan product for commercial properties:

Interest Rate: 12.9%
Loan Fee: 1 point + $950 (nothing up-front)
Term: Six months
Prepayment Penalty: None
Maximum Loan-to-Value Ratio: 65% (70% on purchases)
Properties: Multifamily (5+ units), Commercial, and Industrial

Dr. Ruth Factoid

Famous sex therapist, Dr. Ruth, is a trained sniper. Despite her old age, Dr. Ruth has been dispensing frank sex advice since 1980, but even more shocking is that the 4’7” therapist was trained as a sniper at the age of 16 as a part of an underground Jewish military organization. “Even today I can load a Sten automatic rifle in a single minute, blindfolded,” the diminutive 85-year-old boasts.

Place Your Commercial Loans With C-Loans.com

C-Loans.com just closed an $18.5 million loan last week. The broker earned a $92,500 commission.

C-Loans.com is a commercial mortgage portal where you can enter a commercial loan in just four minutes and then submit it to hundreds of different commercial lenders with one click. And C-Loans is free!

At Least We Know Where I Stand In Pecking Order...

We're Now Making Home Loans in California

For the past 34 years Blackburne & Sons has exclusively been a commercial lender. That has now changed. We are now aggressively seeking non-owner-occupied home loans in California.

Sorry, folks, we are ONLY licensed to make non-owner-occupied home loans in California. We cannot make home loans in any other state; but we will make individual commercial loans or blanket residential loans (5+ houses) nationwide.

Got a nationwide commercial deal or a California non-owner-occupied residential deal? Please call your California Loan Officer:

Desmond Stoll at 916-338-3232
NMLS # 1013512

Alicia Gandy at 916-338-3232
NMLS # 389678

Bear Joke

A bear walks into a bar and says, "Bartender, give me a gin.....................................................and tonic." Bartender says, "Sure buddy, but what's up with the long pause?" The bear looks at his hands and says, "I dunno, my dad had them too.”

Nine-Hour Video Course on How to Broker Commercial Mortgage Loans

This is my bread-and-butter course that teaches you how to market for commercial loans, how to underwrite them (the ratios), how to place them, and how to collect your fee. Thousands of very happy commercial mortgage brokers have taken this course. Details.

Oil Production Joke

"According to a new study, the largest producer of oil is now the United States. So you know what that means - any day now we'll be invading ourselves." -- David Letterman

Great New Apartment Loan Program

You're probably used to thinking of Blackburne & Sons as a subprime commercial lender, but since our acquisition of CommercialMortgage.com (I paid more than a house), some of the nation's largest commercial mortgage investors are giving us wonderful opportunities. Please be sure to check out our great new apartment program.

To apply for an apartment loan from Blackburne & Sons, please find your favorite loan officer below:

Alicia Gandy: 916-338-3232
To apply to Alicia online, please click here.

Desmond Stoll: 916-338-3232
To apply to Desmond online, please click here.

Tom Blackburne: 574-210-6686
To apply to Tom online, please click here.

First Father-Son Drink Joke

I was reading an article last night about fathers and sons, and memories came flooding back of the time I took my son out for his first pint. Off we went to our local pub, which is only two blocks from the house. I got him a Fosters. He didn't like it, so I had it. Then I got him a Carling Black Label. He didn't like it, so I had it. It was the same with the 1664 Lager and Premium Dry Cider. By the time we got down to the Scotch, I could hardly push his stroller back home.

Earn Big Referral Fees. We've Made It Really Easy.

Blackburne & Sons will pay you a referral fee of 20% of our loan fee, just for providing us with the name and the phone number of a prospective commercial mortgage borrower. We once paid a referral fee of $21,250 to a guy named Alan Dunn.

Just click here to refer us a commercial loan.

Cavity Joke

"Open wider," requested the dentist, as he began his examination of the patient. "Good grief!" he said, startled. "You've got the biggest cavity I've ever seen -- the biggest cavity I've ever seen." "OK, doc!" replied the patient. "I'm scared enough without you saying something like that twice." "I didn't!" said the dentist. "That was the echo."

Buy Commercial Leads

You can buy commercial leads from C-Loans for just $1 to $9, plus 37.5 bps. when the deal closes.

Get a Free e-Book on CREF

I've assembled my best commercial real estate finance training articles into a wonderful e-book that is yours free.

 


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Learn to Broker $10MM Commercial Deals.

9-Hour Video Program Including Marketing, Underwriting, Packaging, Placement and Fee Collection. Just $499.

For details, click here or call Mick Carlson at 574-855-6292

Refer Loans to C-Loans By Hand and Earn Huge Referral Fees

Just input the email address of a borrower or broker and earn one-eighth of a point at closing! That's $1,250 for a $1 million loan. Click here.

Our Training Course Includes Over 60 Minutes on Fee Collection. No One Has Collected From More Lying, Deadbeat Borrowers Than George. You Can Order the Fee Agreement and Collection Training Separately for $199.

Call Mick at (574) 855-6292 or email him at mcarlson@blackburne.com

Got a Mortgage Web Site? Earn $5,000 Referral Fees in Your Sleep!

Just Click Here



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Plus 37.5 Bps on Closing.

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Pick up lots of great commercial brokerage practice tips for free.

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C-Loans.com® is sponsored by C-Loans, Inc. — For more information, contact Mick Carlson
4811 Chippendale Drive, Suite 101, Sacramento, CA 95841 telephone: (574) 855-6292 * Fax: (916) 338-2328
Real Estate Broker -- California Bureau of Real Estate -- License Number 01330173

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