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Volume 9: Issue 1 | Date: March 25, 2019
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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 CTL Financing. We also have lots of cute, clean jokes, some funny pics, and a terrifying video of weather gone crazy.
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Joke Du Jour
“Nice dog. What’s its name?” I asked my friend’s 10-year-old son.
“Bob,” he said. “And your cat?” I asked. “His name is Bob as well.” “How do you keep them straight?” I asked puzzled. “Well one is Bob Cat, and the other is Bob Barker,” the boy answered.
“Tell him your rabbit’s name,” his father suggested. The kid smiled and said, “Dennis Hopper.”
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Still Making Nationwide Permanent Loans From $100K to $3.5M
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.
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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?
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- Today's Lesson -
Credit Tenant Lease (CTL) Financing
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If you are an investor with a prime property leased on a triple net basis to a credit tenant, you can still get terrific commercial financing. A credit tenant lease is a method of financing real estate. The landlord borrows money to finance the property and pledges as security the rents to be received from the tenant. Usually, the financing is structured as nonrecourse debt, and the lease is structured as a triple net lease. Credit tenant leases may be created either in sale/leaseback transactions or new purchase transactions.
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A credit tenant is typically a national company that is rated BBB or higher by Standard & Poors. Examples of national credit tenants include Walgreens, CVS Pharmacies, Petco, Auto Zone, Sprint PCS Superstores, Frederic's of Hollywood, Lenscrafters, FedEx Kinko's, etc. Read more on CTL Financing on George's blog.
Click here for free training in commercial real estste finance
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Age Joke
This lady tells the story: My youngest son asked me how old I was. "39 and holding,” I answered. He thought for a moment, and then heasked, "But how old would you be if you let go?"
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Business Purpose Rental Home Loans in Twenty States
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; but we can definitely lend in the following states:
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- New Jersey
- Missouri
- Maryland
- Alaska
- Ohio
- Florida
- New York
- California
- Washington
- Arizona
- Texas
- Hawaii
- Virginia
- Delaware
- Indiana
- Louisiana
- Hawaii
- North Carolina
- Georgia
- Pennsylvania
- Michigan
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Unfortunately the following states are out:
- Nevada
- Minnesota
- Idaho
- Oregon
- South Dakota
- Vermont
- North Dakota
- Utah
What about YOUR state? If you have a real-life deal, we’ll hire our attorney to quickly research its availability.
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The property has to be non-owner occupied, and the purpose of the loan must be for business. Remember, 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.
Call or email George IV:
(916) 338-3232 ext. 314
georgeiv@blackburne.com
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Call From Wife Joke
One of my employees was scrambling like mad to finish a report for an early board meeting, when he received a call from his wife. “Honey,” she said, “I have good news and bad news.” Frazzled, he asked just for the good news. His wife replied "Okay, the good news is that the air bags work."
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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!
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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.
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Birdseed Joke
Julia's mother asked her, "Why are you feeding birdseed to the cat?" "Because," Julia answered, "that's where my canary is.”
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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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Bouncing Joke
The customer chuckled and commented, "That guy was so happy that it's St Patrick's Day that he was literally bouncing off the walls! Who was he?” "Rick O’Shea,” the bartender replied.
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The Blackburne List - Freshly 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.
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Have You Been Screwed Out of a Big Loan Fee Yet?
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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.
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Visions Joke
A man went to the doctor and said: “Doctor, I keep having visions of the future.” “When did these start?” the doctor inquired. The patient replied, “Next Thursday.”
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Become a Hard Money Lender - Just $549
Because banks are only paying 1% for deposits, it has never been easier to become a hard money lender. Hard money brokers make three to ten times more than generic desk-and-a-phone mortgage brokers. Four-hour video course, How to Find Your Own Private Mortgage Investors. In truth, if you don’t want to become a direct commercial lender, rather than just a mere mortgage broker… well, how do I sensitively say this? Maybe you shouldn’t have children? Haha!
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Bouncing Joke
The customer chuckled and commented, "That guy was so happy that it's St Patrick's Day that he was literally bouncing off the walls! Who was he?” "Rick O’Shea,” the bartender replied.
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Commercial Mortgage Marketing Course - Freshly Updated in 2019 - $199
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.
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First Wife Joke
After being widowed for a few years my sister recently remarried. When I saw her I asked, "I'll bet your husband talks about his first wife." "Not anymore," she told me.
"Why not?” I asked. My sister chuckled and replied, "I began to talk about my next husband."
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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? Find your own private mortgage investors.
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Dictionary Joke
I once ate a dictionary, but I’ll never do that again. I ended up with thesaurus throat I've ever had!
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One Minute Joke
I can't seem to find my Gone in 60 Seconds DVD... I could have sworn it was here a minute ago.
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Pregnant Joke
When the sergeant told our new commander that his driver could not participate in an upcoming field maneuver because she was pregnant, the enraged commander demanded to know just how pregnant she was. The sergeant’s reply: “Completely, sir.”
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On a Personal Note
I live in an area very close to a levy and wildlife refuge; which as it sounds is teaming with wildlife. Not a day goes by where we do not see wild turkeys, deer or coyotes. Normally they stay in the reserve, but due to some recent storms their normal stomping grounds have been flooded. As a result, the coyotes have been pushed into our neighborhood. It is sad, as this means they are encountering domesticated animals more; and it usually does not end well for the neighborhood pets.
I do not blame the coyotes, as they are just doing what coyotes do, but it is sad to read about animals going missing on NextDoor (if you have not checked out this app you should). Fortunately for us, we do not have any cats, one of our dogs is decently size and we have a fence. I just hope the waters recede soon and the natural order returns.
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Final Funny (PG-13)
Sitting behind a couple of nuns at a baseball game (with their habits partially blocking the view), three men decided to badger the nuns in an effort to get them to move. In a very loud voice, the first guy said, "I think I'm going to move to Utah, there are only 100 nuns living there."
The second guy spoke up and said, "I want to go to Montana. There are only 50 nuns living there. The third guy said," I want to go to Idaho. There are only 25 nuns living there."
One of the nuns turned around, looked at the men, and in a very sweet calm voice said, "Why don't you go to Hell... there aren't any Nuns there."
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FREE Commercial Loan Brokerage Training
From an Industry Veteran And Attorney
The C-Loans Blog: info.c-loans.com
Every week we publish one or two new blog articles that train commercial brokers in commercial real estate finance. We try to have fun with it, including lots of funny pics. If you want access to this FREE training, subscribe to George's blog by clicking the button below.
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BLACKBURNE & SONS
Realty Capital Corporation
4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
P: (916) 338-3232
F: (916) 338-2328
CA DRE #829677 // NMLS #103430
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A member of the Blackburne Family of Companies
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