Volume 6, Issue 5 // Newsletter Date: July 1, 2018
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Commercial Broker Newsletter
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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 explore whether it is legal for you to broker a few commercial loans on the side. We also have lots of cute, clean jokes, some funny pics, and great video of some jungle animals seeing themselves in a mirror.
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Joke Du Jour
Tired from waiting for their overdue baby, my daughter and her husband broke the monotony one night with a trip to the movies. My daughter went inside to get seats while my son-in-law bought popcorn and drinks in the lobby. Paying for the refreshments, my son-in-law knocked over his soda. The clerk mopped up the mess and refilled his cup. Rattled, he then joined his wife.
Talking over the background music, he dramatically described his embarrassing episode. One of his expressive gestures upset the bucket of popcorn. He sheepishly headed back to the lobby. When he was out of earshot, the woman sitting next to my daughter turned and said, "You're not going to let him hold the baby, are you?"
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Private Money Commercial Permanent Loans $100K to $3.5M Nationwide
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.
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 Blackburne IV, at (916) 338-3232.
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Magician's Saw Joke
"What's your father's occupation?" asked the school secretary on the first day of the new academic year. "He's a magician, ma'am" said Little Johnny.
"How interesting. What's his favorite trick?” "He saws people in half." "Wow! Now, next question. Any brothers or sisters?” "One half brother and two half sisters."
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TODAY'S LESSON: Is a Mortgage Broker's License Required to Broker Commercial Loans?
If you look at most of the state statutes regarding originating mortgage loans, you will see something like, “A Mississippi mortgage broker’s license is required to broker mortgage loans.” Hmmm. I guess you need a license to broker commercial loans in Mississippi. Dang.
Not so fast. If you look up “mortgage loans” in the Mississippi state statutes, you will discover that Mississippi defines a "mortgage loan" as follows: “A mortgage loan is a loan on a one-to-four family dwelling.” Therefore no license is required to broker commercial loans there!
Language of this type is extremely common across the country. More than forty of the fifty states have no licensing requirement to broker commercial loans.
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I'm Happy For Him. I Kinda Fell in Love With Meghan Markle Myself Watching Suits.
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Golf Joke
Four old men went into the pro shop after playing 18 holes of golf. The pro asked, "Did you guys have a good game today?” The first old guy said, "Yes, I had three riders today.” The second old guy said, "I had the most riders ever. I had five.” The third old guy said, "I had 7 riders, the same as last time.” The last old man said, "I beat my old record. I had 12 riders today." '
After they went into the locker room, another golfer who had heard the old guys talking about their game went to the pro and said, "I have been playing golf for a long time and thought I knew all the terminology of the game, but what's a rider?” The pro said, "A rider is when you hit the ball far enough to get in the golf cart and ride to it."
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Do You Need a Commercial Loan Right Now?
If you need a non-prime or subprime commercial mortgage loan right now, simply complete this super-easy mini-app to me here at Blackburne & Sons.
If you need a bank-quality commercial loan right now from a life company, a commercial bank, or a conduit, you should enter your deal into C-Loans.com or our latest commercial loan portal, Commercial Mortgage.com.
The lenders on CommercialMortgage.com (3,159 commercial mortgage lenders) are different from the 750 commercial lenders on C-Loans.com.
The really hungry lenders join C-Loans.com, and using C-Loans you can actually submit your loan to 750 commercial lenders and get the ball rolling.
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The Key to Weekending is to Find a Comfortable Pad and...
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Old Rockers Joke
"There is a Japanese pop band whose members are all over 80-years-old. The band is known for their No. 1 hit song, 'Where Am I?'” — Conan O'Brien
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The Sweet Apartment Loan Program For "A" Deals
Blackburne & Sons has a terrific apartment loan program for "A" quality deals. Our fixed rate is adjusted according to the desirability of the property and the area, but it starts at 3.87% and 1 point for a 30-year fully-amortized loan. For more details, please call George Blackburne IV at (916) 338-3232.
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Tupperware Joke
One evening after dinner, a five-year-old son noticed that his mother had gone out and he asked, "Where did mommy go?” His father told him, "Mommy is at a Tupperware party.” This explanation satisfied him for only a moment. "What's a Tupperware party, Dad?” The man had always given my son honest answers, so he figured a simple explanation would be the best approach. "Well, son," he said, "at a Tupperware party, a bunch of ladies sit around and sell plastic bowls to each other.” My son nodded, indicating that he understood this curious pastime. Then he burst into laughter. "Come on, Dad," he said. "What is it really?"
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Only Blackburne & Sons Can Do This:
Blackburne & Sons has some truly unique and super cool programs:
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We'll give you a bridge loan on your commercial property for only one point! There is no prepayment penalty.
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We allow sellers to carry back a second mortgage behind our first mortgage.
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We will actually lend up to a 75% loan-to-value ratio. Banks claim they will lend up to 75% LTV, but in real life they will only go 68% LTV.
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We offer private money (loosey-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.
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We have a terrific apartment permanent program that can compete with agency loans.
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We buy commercial first mortgages (usually at a discount).
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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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College Joke
"According to a new survey that just came out, the issue most on the minds of college students is whether they'll be able to find a job when they graduate. Experts say it's silly for college students to worry about whether or not they'll be able to find a job because the answer is no.” — Conan O'Brien
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Free Copy of The Blackburne List
The Blackburne List is a list of over 2,500 commercial lenders located nationwide. We just spent almost $30,000 and three months updating this list.
The Blackburne List 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. But why spend money at all?
We will trade you one of our three Regional Lists for the contact information of just one banker making commercial real estate loans. If you refer us three bankers, you will own the list for all three regions. Together you will own the entire Blackburne List.
Guys, if you find yourself filling in your own name as a banker, you are probably either a brain surgeon or an outright crook. If the loan officer’s website doesn’t contain a big FDIC logo, then that loan officer is NOT a banker.
There is another way that you can access The Blackburne List. Our newest portal, CommercialMortgage.com, is an online way to search the entire Blackburne List for the 30 lenders most suitable to make your commercial loan.
CommercialMortgage.com ("CMDC") is also 100% free!
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Chemistry Class Joke
Mother: "How was school today, Patrick?"
Patrick: "It was really great mum! Today we made explosives!"
Mother: "Ooh, they do very fancy stuff with you these days. And what will you do atschool tomorrow?"
Patrick: "What school?"
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Two Ways To Earn Referral Fees for Commercial Loans - We Once Paid $21,250
This one 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 referral commercial loans by hand. Here is our referral fee program.
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One of the things no one tells you about owning a home is how expensive home repairs can be. When I bought my house, I knew it was going to need a little work, but I had no idea how expensive it would be. For example, right now I need a new fence, as the current one is rotting away and my dogs are evil and would jump at the chance to explore my neighbors backyard. With 300+ feet of fence, I am getting quotes back between $6,500-$8,000. I nearly had a heart attack. The concrete pad I wanted for more outdoor entertaining? Another $2,500. Painting my tiny 900SF home’s exterior? $1,500. Not to mention the fact that my backyard was completely baron and needs some landscaping. I can feel my wallet getting lighter and lighter just thinking about it. With YouTube as my guide, and a lot of trial and error, hopefully I can get at least some of these projects done myself!
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Don't Forget About C-Loans.com
We have a whole new crop of hungry commercial lenders on C-Loans, so if you have a commercial loan you're trying to place, it takes just four minutes to submit your deal to 750 commercial lenders. And remember, C-Loans.com is free!
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Final Funny - OMGoodness, Sooo Funny!
Cletus is passing by Billy Bob's hay barn one day when, through a gap in the door, he sees Billy Bob doing a striptease in front of an old John Deere tractor. Butt clenched, he performs a slow pirouette, and gently slides off the right strap of his overalls, followed by the left. He then hunches his shoulders forward and in a classic striptease move, lets his overalls fall down to his hips, revealing a torn and frayed plaid shirt. Then, grabbing both sides of his shirt, he rips it apart to reveal his stained T-shirt underneath. With a final flourish, he tears the T-shirt from his body, and hurls his baseball cap onto a pile of hay.
Having seen enough, Cletus rushes in and says, "What the world're ya doing, Billy Bob?” "Good grief, Cletus, ya scared the bejeebers out of me," says an obviously embarrassed Billy Bob. "But me 'n the wife been havin' trouble lately in the bedroom d'partment, and the therapist suggested I do something sexy to a tractor."
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Read the C-Loans Blog
Pick up lots of great commercial brokerage practice tips for free.
Click here and bookmark it.
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BLACKBURNE & SONS
Realty Capital Corporation
For more information, contact George Blackburne, IV
4811 Chippendale Drive, Suite 101, Sacramento, CA 95841
Telephone: (916) 338-3232 // Fax: (916) 338-2328
Real Estate Broker -- California BRE #829677 // NMLS #103430
Loans made under the California Finance Lenders Law.
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