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Volume 8: Issue 4 | Date: April 27, 2020


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 discuss just how incredibly low are the rates of conduit commercial lenders right now. We also have lots of cute, clean jokes, some funny pics, and a funny video of a border collie who has trained his neighbors to play fetch with him.


Joke Du Jour

A lost dog strays into a jungle. A lion sees this strange, new kind of animal from a distance and says with caution, “This guy looks edible. I’ve never seen his kind before.” The lion therefore starts rushing towards the dog with menace. The dog starts to panic, but, as he's about to run, he sees some bones lying next to him. Suddenly the dog gets an idea and says loudly, “Mmm, that was some good lion meat!” The lion abruptly stops and says, “Whoa, this guy may be tougher than he looks. I better leave while I can.” Sitting in a nearby tree, a monkey witnesses everything. The monkey realizes the he can benefit from this situation by telling the lion what really happened. The lion says angrily, “Get on my back. We'll go get him together.” They start rushing back towards the dog. The dog sees them, and he quickly realizes what must have happened. The dog starts to panic again; but just then he gets another idea. The dog loudly shouts, “Where the heck is that monkey? I told him to bring me another lion an hour ago.”


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.


Private Money Commercial Permanent Loans

From $100K to $1.5M Nationwide

Click HERE to 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.

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?

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.

Have a deal to run by me? Click HERE

George Blackburne IV

Loan Representative

P: (916) 338-3232 Ext. 314


NMLS #382122

CA DRE #01873244


Market Crash Joke

This stock market crash is worse for me than a divorce. I've lost half my net worth, but I still have a wife.


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.

Now available online!


Indian Joke

Q: Why are all of the Indian reservations being attacked?

A: Because they have TP.


Business Purpose Rental Home Loans in Most States

Click HERE to 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.

Commercial: NATIONWIDE


  • Alaska
  • Arizona
  • California
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Indiana
  • Louisiana
  • Maryland
  • Michigan
  • Missouri
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin

These states are out:

  • Idaho
  • Minnesota
  • Nevada
  • North Dakota
  • Oregon
  • South Dakota
  • Utah
  • Vermont

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


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.


Movie Joke

Q: Who's going to direct the new Coronavirus film?

A: Tintin Quarantino


- Today's Opportunity -

Conduit Loan Rates Are Soooo Low

Conduit loans, also known as CMBS loans, enjoy a fixed rate for a whopping ten years.  Unlike a fixed-rate commercial loan from a bank, there is no rate readjustment after five years. The rate is fixed for the entire ten years. With ten-year Treasuries at just 0.79%, there has never been a better time in history to get a ten-year, fixed-rate conduit loan.

Conduit loans are priced at some negotiated spread over the higher of ten-year Treasuries or corresponding interest rate swaps. Today (3/8/20), ten-year Treasuries are at 0.79%, and ten-year interest rate swaps are at 0.81%. Therefore we will use the higher of the two indices - interest rate swaps.

Okay, but what is the spread or margin over the index? Conduits are pricing their office, retail, and industrial commercial permanent loans at 140 to 290 basis points over the index. Therefore, we are talking about conduit commercial loans priced at between 2.21% to 3.71%. Wow! 

So who gets the 2.21% rate, and who has to pay 3.71%? It depends on the loan size, the risk, the debt yield ratio and the tenancy. The larger the deal, the smaller the spread. The safer the deal, the lower the spread. For example, if your property is located on Madison Avenue in New York City, you will enjoy a lower spread than a deal located on a nice retail street in Salt Lake City. Madison Avenue is a more proven location.

There are some properties, however, that sell for such incredibly low cap rates - for example, Madison Avenue in New York City - that the debt yield can be too low. This is a bad thing. Sometimes the debt yield ratio on that Salt Lake City property can be more attractive to a CMBS investor.

The quality of your tenants also determines your spread over the index. Quality refers to strength of your tenants. If you have a shopping center anchored by Target or Krogers, you will enjoy a tighter spread than a shopping center anchored by a mom and pop grocery story.


How to Earn Huge Referral Fees

Please click here after viewing the video.


Battery Joke

I had to remove the battery from my carbon monoxide detector. The constant beeping was giving me a headache and making me feel sick.


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. 

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!


Gray Hair Joke

I found my first gray hair today. Things like this don't normally bother me, but I found it in my Big Mac. Eeeuuu.


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.


Baby Powder Joke

When I was told Baby Powder was on sale, I said, "Talc is cheap.”



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.


Love Joke

Woman: "Do you love me?"

Man: "Yes, dear." 

Woman: "Would you die for me?"

Man: “No, mine is an undying love."


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.


Vacation Joke

Yesterday I purchased a world map...gave my wife a dart and said to her "throw this and wherever it lands, I'm taking you for a holiday.” Turns out we're spending three weeks behind the fridge.


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).

Need a NMLS License? Need to Renew Your CE Hours?

This fun instructor makes these hours bearable.


Personal Space Joke

My friend Robbie shocked and hurt me. He told me today that I make people very uncomfortable and have no respect for their personal space. I mean, what a thing to say to a friend? It totally ruined our bath.


Use Cheddar Stacks to Get Commercial Loans

Imagine 19 business men and women, all working in industries centered around real estate. Each has an app on their cell phone that makes it easy to shoot each other leads. Folks, referral leads are worth THIRTY leads from advertising. Click here for more details.


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.


On a Personal Note

Our newest dog Gypsy is quite a character. In addition to being the incredibly sweet and affectionate, she is also whip smart. She learned the usual sit/stay/lie down/shake routine in the first day and learned how to fetch just by watching our other two dogs. Unfortunately she has discovered some less than desirable tricks, such as opening doors. She has realized that if she jumps up (mind you she is very small dog. 15lbs and no more than a foot tall) and smacks the handle the door will open. She is particularly fond of going into our guest room, which has our turtles in it. Why that room? Well because of the delicious turtle food of course! Before the lockdown, I was worried pet food was going to be in low supply so I made sure to buy dog and turtle food in bulk. We get back from the store one day to find that she had devoured a 6 month supply of turtle food! She was so full she could barely move and I don’t even want to talk about the gas it gave her…

But it gets worse. Thinking we learned our lesson, we ordered more turtle food online and this time, we put it in a dresser drawer.  There is now way this dog could open up a dresser right? Wrong. Not a week later, we come home and again find the guest room door open, drawer open and a very full and very self-satisfied Gypsy wagging her tail greeting us.  Somehow, she was able to open up the dresser drawer. I am 90% sure she thinks this is a game of “hide the turtle food” and she is winning. Now we keep the turtle food on the top shelf in the closet, but if she figures out a way to get that then I am not sure what we are going to do! 

George Blackburne IV

Loan Representative

P: (916) 338-3232 Ext. 314


NMLS #382122

CA DRE #01873244

Have a deal to run by me? Click HERE


Video - Border Collies Are So Smart


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.


Final Funny (PG-13)

An old man goes to confession. He tells the priest that on Friday night, he’d been in the bar, when he met a young woman. “She was maybe 22,” he says. “She was a gorgeous blonde. I started lusting, Father.” “Yes, lust is a dangerous sin.” says the priest. “There’s more,” says the man. “We went back to her place and made passionate love for hours.” The priest pauses. “And how long has it been since your last confession?” “This is my first confession ever, Father." “How is this your first confession?” asked the confused priest. “I’m Jewish,” answered the old man. “Then… why are you telling me all this?” asked the priest. “Telling you?” said the old man, "I’m telling everyone!”

TwitterFacebookLinkedInBlackburne & Sons Website

Members of the Blackburne Family of Companies

CA DRE #829677

NMLS #103430


P: (916) 338-3232

F: (916) 338-2328

4811 Chippendale Dr, Ste. 101

Sacramento, CA 95841


CA DRE #1330173

NMLS #167100