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BANKER LETTER
Volume 8: Issue 9
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Date: July 23, 2020
This letter is intended only for commercial real estate loan officers working for banks, credit unions, conduits, and hard money lenders. Today we’ll discuss a super-cheap method of marketing that every businessman in every industry - mortgage ladies, doctors, dentists, chemical suppliers, everyone should use. We also have lots of cute, clean jokes, some funny pics, and a very disturbing video of the aftermath of the Minneapolis riots.
Hey guys, if we make you chuckle today, won't you please-please-please refer a turndown this week to CommercialMortgage.com? Seriously, guys, this searchable portal is free, and it contains thousands of commercial lenders. You really are doing them a favor.
Attention:
We Are Looking For an Expert Witness in Commercial Real Estate Finance
You get paid for your valuable time, plus qualifying as an expert looks great on your resume. Here are the details.
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Joke Du Jour
As I was attempting to take a shower one day, my two-year-old little girl and my husband couldn't seem to stay out of the bathroom. They also kept leaving the door wide open. "So much for privacy," I thought. But there was a cool breeze coming into the bathroom too, and I was getting chilled. After asking them to shut the door several times, with no luck, I shouted gruffly, "Close the door! There's a draft in here!” My two-year-old daughter ran into the bathroom, shouting, "Where? Where? Where’s the giraffe?”
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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").
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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.
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Shark Joke
"Researchers in Hawaii recently put webcams on the fins of sharks so they could get a firsthand view of what the sharks see. The first thing they saw? A shark eating the guy who strapped a webcam on its fin.” — Jimmy Fallon
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Free Commercial Loan Leads
C-Loans.com, is our original portal. C-Loans.com has been phenomenally successful, boasting over 1,000 commercial loan closings totaling over $1 billion. We will list banks on C-Loans.com for free, and they will receive free leads by email, as well as calls and emails directly from borrowers.
If the bank closes a commercial loan, however, the bank owes to C-Loans.com a software licensing fee of between 25 to 50 bps (usually 37.5 bps.) In real life, all of our banks simply bump their normal loan fee from 1.0 points to 1.375 points, so C-Loans.com effectively costs the bank nothing. Please click here to get listed on C-Loans for free. (You must be a bona fide direct commercial lender servicing at least $20 million in commercial loans.)
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Listening Joke
I hate it when my wife says, "Are you listening to me?!” It’s such a random way to start a conversation.
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How C-Loans Actually Works
Think of C-Loans.com as a giant filter. We start with 750 participating commercial lenders. Every time you enter more information into the application - loan amount, property type, loan type, state, credit - dozens of lenders are filtered out. Upon completion, you are left with a list of 20 to 30 perfect lenders. You put a check mark next to six lenders at a time and press submit. Soon you are receiving quotes and offers. No good offers? Come back and submit to six more lenders, then six more, and so on. And C-Loans.com is free!
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Attention Joke
I was struggling to get my wife’s attention, so I simply sat down and looked comfortable. That did the trick.
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Bark Joke
We have an old tree that became diseased and was losing its bark. It needed a bark transplant, so we called a tree surgeon. The communication was unfortunately mangled, and when the surgeon arrived, he went to work on a tree across the street. He was halfway done when I noticed the error. I tried to stop him by yelling, "Stop! Stop! You're barking up the wrong tree!”
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Won't You Please-Please-Please Refer Us Your Commercial Mortgage Turndowns?
If you have to turn down a commercial loan this week, you would really be helping your customer if you referred him to CommercialMortgage.com. The domain name is easy to remember.
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Eggs Joke
It always irked my mother that her grocery store didn’t carry eggs in packages of six - just by the dozen. Then one day her wish came true. She walked into the grocery and found fresh eggs in cartons of six. She was so excited, she bought two!
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- Today's Observation -
Dirt Cheap Marketing For All Business Types
Every business has customers, clients, prospects, and industry contacts who can refer new customers to the company. Unless you happen to dislike money (haha), you need to keep your name and contact information regularly in front of these guys.
You could pay for TV or radio ads, but this kind of advertising is insanely expensive. Google ads? Same thing. Big $$$. Mass email advertising to strangers? Not only are mass email blasts to strangers illegal, but no one likes spam.
But newsletter advertising to existing customers, nibblers, and existing industry contacts is legal, ethical, very effective, and dirt cheap.
We here at Blackburne & Sons use iContact, an email blasting software company that charges us only $186 per month. Not only will iContact blast out your emails, but it will also maintain your databank of contacts and provide you with a newsletter template that will make you look like a billion dollar company.
So what do you include in your newsletter? Just imagine you’re meeting your contact after work for a beer. What kind of stuff would you tell him? A joke? A cool story? Maybe a funny meme? Some juicy gossip? It really doesn’t matter, as long as it's interesting.
That’s the trade-off. Your contacts permit you to display your name and contact information in return for being entertained.
Attention:
We Are Looking For an Expert Witness in Commercial Real Estate Finance
You get paid for your valuable time, plus qualifying as an expert looks great on your resume. Here are the details.
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Carpool Lane Joke
Cop: So, I’m writing you a ticket for driving alone in the carpool lane.
Criminal: You’re going to feel really stupid when you look in my trunk!
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Become a Hard Money Lender
One reason why hard money brokers make ten times more money than desk-and-a-phone mortgage brokers is that they approve their own deals!! Four-hour video course, How To Find Your Own Private Mortgage Investors. Just $549.
Now available online!
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Hungry Joke
"Dad, I am hungry."
"Hi Hungry, I'm Dad."
"Dad, I'm serious."
"I thought you were Hungry?"
"Are you kidding me?"
"Nope, I'm Dad.”
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Would You Mind a $21,250 Referral Fee?
We once paid a $21,250 referral fee to a website owner named Alan Dunn for referring us a $17 million deal. Please click here for details.
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Mayday Joke
Ralph was towing his boat home from a fishing trip in Jamaica Bay when his car broke down. He didn't have his cell phone with him, but he thought maybe he might be able to raise someone on his marine radio to call for roadside assistance. He climbed into his boat, clicked on the radio and said, "Mayday, mayday.” A Coast Guard officer came on and said, "State your location.” "I-95, two miles south of Cranston.” After a very long pause, the officer asked, "How fast were you going when you reached shore?”
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Scarface Joke
In Mexico authorities captured the world's most wanted drug kingpin. He was hiding in a tiny little apartment. It was very anti-climactic. It was like Scarface saying, "Say hello to my little… kitchenette.” — Craig Ferguson
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Girl Scout Cookies Joke
"A girl in San Francisco actually sold Girl Scout cookies at a medical marijuana clinic this week; which is why today she bought a mansion and retired.” — Jimmy Fallon
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Video - The Aftermath in Minneapolis
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FREE Commercial Loan Brokerage Training
From an Industry Veteran and Attorney
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Final Funny
I was out walking with my four-year-old daughter. She picked up something off the ground and started to put it in her mouth. I took the item away from her, and I asked her not to do that. Why?" my daughter asked. "Because it's been on the ground,” I replied. “You don't know where it's been, it's dirty, and probably has germs."
At this point, my daughter looked at me with total admiration and asked, "Mommy, how do you know all this stuff? You are so smart.” I was thinking quickly.” All moms know this stuff. It's on the Mommy Test. You have to know it, or they don't let you be a Mommy.” We walked along in silence for two or three minutes, but she was evidently pondering this new information.
“Oh, I get it!" she beamed, "So if you don't pass the test, you have to be the Daddy." “Exactly," I replied back with a big smile on my face.
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www.C-Loans.com
4811 Chippendale Drive
Suite 101
Sacramento, CA 95841
P: (574) 210-6686
F: (916) 338-2328
CA DRE #1330173
NMLS #167100
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Tom Blackburne
General Manager
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