Volume 14 Issue 9

Newsletter Date: August 22, 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 non-recourse commercial loans and when you legally must have one. And as always, we have lots of great jokes, funny pics, and a hilarious video for you today too.

Joke Du Jour

As I drove into a parking lot, I noticed that a pickup truck with a dog sitting behind the wheel was rolling toward a female pedestrian. She seemed oblivious, so I hit my horn to get her attention. She looked up just in time to jump out of the way of the truck's path. The vehicle bumped harmlessly into the curb and stopped. I rushed to the woman's side to see if she was all right. "I'm fine," she assured me, "but I hate to think what could have happened to me if that dog hadn't honked..."

And Drift Away...To Nap Time

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:

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.

Pork Joke

An Irish priest and a Rabbi found themselves sharing a compartment on a train. After a while, the priest opened a conversation by saying "I know that, in your religion, you're not supposed to eat pork... Have you actually ever tasted it? The Rabbi said, "I must tell the truth. Yes, I have, on the odd occasion." Then the Rabbi had his turn of interrogation. He asked, "Your religion, too... I know you're suposed to be celibate. But...." The priest replied, "Yes, I know what you're going to ask. I have succumbed once or twice." There was silence for a while. Then the Rabbi peeped around the newspaper he was reading and said, "Better than pork, isn't it?"

Non-Recourse Commercial Loans

Since the Great Recession, commercial banks have become very hard-nosed about personal guarantees. Most of them are adament about requiring the borrower to personally guarantee the loan.

But there are times when legally a borrower simply MUST have a non-recourse commercial loan:

  1. If a commercial property is owned by an IRA, the beneficiary may not personally guarantee the loan without running afoul of the IRS.

  2. The investors in a tenant-in-common (TIC) investment may not personally guarantee a commercial loan without the investment losing its tax-deferred status.

  3. Many irrevocable trusts have independent trustees, like a family attorney or a bank. No attorney or bank is going to guarantee an $800,000 commercial loan for a minor child, even if its necessary to pay off a ballooning loan.

Blackburne & Sons will make non-recourse commercial loans. Please call your favorite 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.

Tortoise Joke

"This week a giant tortoise was on the loose here in Southern California. Drivers on the freeway were shocked to see something moving so quickly." -- Conan O'Brien

Preferred Equity "Loans"

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:

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.

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

Protection Joke

The first testicular guard, the "Cup," was used in hockey in 1874, and the first helmet was used in 1974. That means it only took one-hundred years for men to realize that their brain is also important. (Ladies, quit laughing!)

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.

I'm Melting! Who Would Have Thought a Good Little Girl Like You Could Destroy My Beautiful Wickedness?

The melting of the Wicked Witch of the West

One-Point Commercial Bridge Loans

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

Interest Rate: 9.9% to 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

NYC Subway Flashmob Video

The cast of the play The Lion King breaks into song on a NYC subway.

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!

Soooo Touching

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

Haunted House Joke

There was this haunted house on the outskirts of the town which was avoided by all the townfolk - the ghost which `lived' there was feared by all. However, an enterprising journalist decided to get the scoop of the day by photographing the fearsome phantom. When he entered the house, armed with only his camera, the ghost descended upon him, clanking chains et al. He told the ghost "I mean no harm - I just want your photograph". The ghost was quite happy at this chance to make the headlines - he posed for a number of ghostly shots. The happy journalist rushed back to his dark room, and began developing the photos. Unfortunately, they turned out to be black and underexposed. So what's the moral of the story? The spirit was willing, but the flash was weak.

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.

Camaraderie Joke

I love the sense of camaraderie when an entire line of cars teams up to prevent a jerk from cutting in at the front. Stay strong brothers and sisters!

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.

Bookie Joke

A teacher asks her kids in spelling class to tell what their father does for a living and to spell it. The first kid says, "My daddy's a baker. That's b-a-k-e-r. He makes bread and lots of sweet goodies to eat." The second kid says, "My daddy's a banker. That's b-a-n-k-e-r. He makes a lot of money, and he buys us lots of toys." The next kid says, "My daddy's an electrician. That's e-l-a-k...uh, e-l-e-x...uh...." The teacher interrupts, saying, "That's okay, Rayford. Think about it, and we'll come back to you." Turning to Little Johnny, she says, "You're next, Johnny." Little Johnny says, "My daddy's a bookie. That's b-o-o-k-i-e, and I'll lay you ten-to-one odds that Rayford can't ever spell electrician."

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.

Wrong Number Joke

The girl writes: After directory assistance gave me my boyfriend's new phone number, I dialed him -- and got a woman. "Is Mike there?" I asked confused. "Umm, he's in the shower," she responded. "Please tell him his girlfriend called," I said and hung up. When he didn't return the call, I dialed again. This time a man answered. "This is Mike," he said. "You're not my boyfriend!" I exclaimed. "I know," he replied. "That's what I've been trying to tell my wife for the past half-hour!"

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.

 


Featured Links


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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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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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