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Volume 7: Issue 5 | Date: June 20, 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 are going to talk about how to clear dangerous gangsters out of apartments buildings. We also have lots of cute, clean jokes, some funny pics, and a hilarious video of bad ideas.
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Joke Du Jour
"I quit smoking pot. I quit because I saw this commercial on TV - you may have seen the same one. It's the one where this kid gets all his buddies together. They're gonna go in the basement, and they're gonna smoke some weed. So, he goes to get his marijuana out of his marijuana container, but there's no pot inside. There's just a note on a rolling paper. It says, 'We need to talk. Mom.' That's crazy, 'cause a very similar thing happened to me, but my note just said, 'I owe you a dime bag. Mom.’" — Jeremy Schachter
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Private Money Commercial Permanent Loans
From $100K to $3.5M Nationwide
Apply Now! 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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And don't forget, we will quickly and happily issue you a written Loan Approval Letter - at no charge - that you can use as a fallback and to lure cheaper lenders. After all, everyone wants to lend to you if you already have a commitment. Here is our latest rate sheet.
Blackburne & Sons is looking for commercial real estate loans that are not quite clean enough for a bank. Please click here to submit a hard money commercial loan or call me, George IV, at (916) 338-3232 Ext. 314.
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- Today's Observation -
Clearing Out Gangsters from REO's
I have an investor buddy who has made many many millions of dollars by buying up distressed apartment building in low-income, high-crime, and high-drug-use areas.
When he buys these buildings, they are largely vacant, dilapidated, and infested with gangsters. So I asked him yesterday how he clears out the gangsters. These guys have guns, and they have drug and prostitution businesses to protect. One gang in one in one of his buildings even had the address of his building tattooed on their upper arms.
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Think about it. How large of a private army would it take to clear one of these buildings? After all, these gangsters have guns, and they are not afraid to use them.
So how many gunshots did it take to clear out the worst of his buildings? Not a single gunshot. Not a single swing of a billy club. Here is how he did it:
He put a fence around the entire building, thereby creating just one entrance. Then he hired after-hours policemen to man the entrance. These police guards visibly took pictures of every person entering the apartment complex. They also required that every person produce a photo ID. The names and license numbers were visibly written into a large journal.
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Now ask yourself. If you were a young college student wishing to buy drugs, would you run this gauntlet? Of course not! Soon the gangsters had no customers, and they were forced to move out. Haha!
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Off Drugs Joke
"Want your kids to stay off drugs? Simply show them pictures of what we used to wear in the 60's and 70’s. 'You see this shirt with the collar going all the way down to the elbow? This is what happens when you take drugs.’" — Anthony Griffit
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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.
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We can lend in the following states:
- New Jersey
- Missouri
- Maryland
- Alaska
- Ohio
- Florida
- New York
- California
- Washington
- Arizona
- Texas
- Hawaii
- Virginia
- Delaware
- Indiana
- Louisiana
- Hawaii
- North Carolina
- Georgia
- Pennsylvania
- Michigan
- Louisiana
Unfortunately the following states are out:
- Nevada
- Minnesota
- Idaho
- Oregon
- South Dakota
- Vermont
- North Dakota
- Utah
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Don't see YOUR state listed above? If you have a real-life deal, we’ll hire our attorney to quickly research its availability.
George Blackburne, IV
Loan Representative
P: (916) 338-3232 Ext. 314
georgeiv@blackburne.com
NMLS #382122
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.
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Bully Joke
"I wouldn't go to school. I thought all the kids at school were going to beat me up, which is absurd. They couldn't all beat me up - someone had to hold me down." — Eric Kornfield
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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!
Apply for a loan now!
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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 IV, at (916) 338-3232.
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Butt-Kicking Joke
"One time, I got beat up by a kid named Jesus. And when you're seven, you can't tell the difference between Jesus, a typical Puerto Rican name in your neighborhood, and Jesus, the actual savior. So I was walking around all confused -- you know, guilty. What had I done that the Lord would send his only begotten son down to Brooklyn to kick my (butt)?" — Billy Santiago
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COMMERCIALMORTGAGE.COM
Even More Commercial Lenders
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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Hips Joke
"I never had hips. It's because I don't have kids. Everybody tells me that once I have a kid, I'll grow some hips. That's cool, but what do you do with the kid?” — Retha Jones
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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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Responsibility Joke
"Having a baby is a huge responsibility. It's like a five-year commitment." — Chelsea Handler
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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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Learn Commercial Real Estate Finance
9 Hour Video Training
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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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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Noah Joke (Cute One For the Kids)
Q. What lights did Noah use on his ark?
A. Flood lights, of course.
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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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Video - Hilarious Compilation of Bad Ideas
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On a Personal Note
Just recently, I needed to replace the fence around my property. It was in terrible shape; leaning over a foot, rotting fence pieces, bent fence posts etc. With over 300ft of fence, it was a big and expensive project. As I have neighbors on both sides, and we share a joint fence, it seems natural that we would split the cost of the shared fence 50/50. Unfortunately, one of my neighbors (a property management company) was being stubborn and refused to replace the fence. Fortunately, California has a law on the books that came in handy. California Civil Code 841, also known as the Good Neighbor Fence Act of 2013. Essentially, if you give your neighbors 30 day notice, and a detailed breakdown of the costs and reasons, they (your neighbors) are obligated to pay for their half.
This law came in handy, and definitely saved me a bunch of money. So if you ever need to replace your fence, check out your local laws and see if there are any laws that can help!
Have a deal to run by me? Click here.
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Final Funny (PG-13)
While playing in the backyard, Little Johnny kills a honeybee. His father sees him killing the honeybee and angrily says, "No honey for you for one month!"
Later that afternoon, Johnny's dad catches him tearing the wings off a butterfly. "That's it! No butter for you for one month!" says his dad.
Later that evening, as Johnny's mother cooks dinner, a cockroach run across the kitchen floor. She jumps and stomps on it, and then looks up to find Little Johnny and her husband watching her.
Little Johnny looks at his father and says, "Are you going to tell her, Dad, or do you want me to?"
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Members of the Blackburne Family of Companies
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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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