Volume 7: Issue 2 | Date: March 27, 2019
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COMMERCIAL BROKER NEWSLETTER
You are receiving this letter because you either wrote to us or you are a commercial real estate broker client of either Blackburne & Sons or C-Loans, Inc. Today we'll talk about 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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Private Money Commercial Permanent Loans From $100K to $3.5M Nationwide
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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.
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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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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- Today's Lesson -
Credit Tenant Lease (CTL) Financing
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.
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 to subscribe for free training!
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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 “Well, the good news is that the air bags work."
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We're Now Making Business Purpose Rental Home Loans in Most 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.
The property has to be non-owner occupied, and the purpose of the loan must be for business. 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.
Got a commercial deal nationwide or a business purpose, non-owner-occupied residential deal in one of the above states? Please call me:
George Blackburne, IV
Loan Representative
P: (916) 338-3232 Ext. 314
georgeiv@blackburne.com
NMLS #382112
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Vacation Joke
My friend Jim told me that when he asked his wife where she wanted to go on vacation, she said that being married to him was a vacation.
When I commented that was a nice thing to say to him, Jim replied, "Well, actually, what she said was I was the 'last resort.'"
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Submit Your “A” Quality Commercial Loans Using C-Loans
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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. Borrowers and commercial brokers 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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Hot-To-Trot To Make Fix and Flip Loans
Blackburne & Sons is making a huge push into fix and flip lending. Of course we will still make our private money permanent loans on commercial properties nationwide; but we are now also making fix and flip loans across the country.
Please click here to submit a fix and flip loan or a hard money commercial loan or call me, George Blackburne IV, at (916) 338-3232.
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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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The Lender List on CommercialMortgage.com Keeps Growing!
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Last week alone we added almost 150 new banks to CommercialMortgage.com. Commercial lenders are more aggressive when the property is located close to their office. With almost 4,000 banks, credit unions, and other commercial lenders, it's easy to find thirty lenders within a few miles of your property. And CommercialMortgage.com is free!
Important Note:
We recently fixed a bug on CommercialMortgage.com that kept over 600 of our best commercial lenders from appearing on the Lender List. Arghh! Please-please come back and re-try it.
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Saturn Joke
On the weekend of the biggest motorcycle gathering of the year, I was working at a club nearby. When the roaring machines pulled up outside, our patrons' eyes swung toward the door and conversation turned into uneasy whispering.
A group of tough-looking bikers walked up to me, and one of them asked me where the phone was. I pointed it out, and the silence in the room let everybody overhear what the biker said into the receiver.
"Hi, Mom. Just want to let you know I'll be home late tonight."
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Only Blackburne & Sons Can Do This
Blackburne & Sons has some truly unique and super cool programs:
- We'll give you a bridge loan on your commercial property for only one point! There is no prepayment penalty.
- We allow sellers to carry back a second mortgage behind our first mortgage.
- We will actually lend up to a 75% loan-to-value ration. Banks claim they will lend up to 75% LTV, but in real life they will only go 68% LTV.
- We offer private money (loose-goosey underwriting) commercial loans with 30-year payments and a 15-year term. Our competitors offer 2 to 3-year bridge loans. We offer 15-year permanent loans with no prepayment penalty. Never again will you have a balloon payment come due during a recession.
- We buy commercial first mortgages (usually at a discount).
- Instead of discounting your wonderful commercial first mortgage, consider pledging it as collateral for a smaller loan. This is called a hypothecation. We make loans secured by mortgage notes owned by the borrower.
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Sportsmanship Joke
I was helping out with a tennis camp for little kids. At the beginning, the tennis pro running the event was talking about good sportsmanship.
He asked "Can anyone tell me what a good sport is?"
This cute little 5-year-old raised his hand, got called on, and suggested, “Baseball?"
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Free Copy of The Blackburne List
Click here to get a free list of 200 commercial lenders, including at least five for every state.
The Blackburne List is a list of over 2,500 commercial lenders located nationwide. We spent almost $30,000 and three months updating this list, and we just finished updating it in 2019. The Blackburne List is available for purchase for just $79.95 at CommercialLenders.com. Is money tight? You can also buy one of our three Regional Lists (750+ lenders) for just $39.95.
You can also search The Blackburne List using CommercialMortgage.com for free.
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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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Learn Commercial Real Estate Finance - 9 Hour Video Training
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It would be a lot easier to close your commercial deals if you actually knew the subject matter. Are you finally ready to learn the financial ratios and the advanced terminology of commercial real estate finance? Just $549.
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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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Two Ways To Earn Referral Fees for Commercial Loans - We Once Paid $21,250
This is an absolute no-brainer. You simply put a link to C-Loans.com on your real estate website. We once paid a $21,250 referral fee to a guy who was asleep when the lead came in! Here are the details.
You can also refer commercial loans by hand. Simply insert your referrals here.
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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.
Have a deal to run by me? Click here.
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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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CA DRE #829677
NMLS #103430
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P: (916) 338-3232
F: (916) 338-2328
4811 Chippendale Dr, Ste. 101
Sacramento, CA 95841
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CA DRE #1330173
NMLS #167100
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Members of the Blackburne Family of Companies
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