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Members of the Blackburne Family of Companies
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Volume 6, Issue 6 | Date: August 21, 2018
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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 explain why you must NOT go on vacation in September. We also have lots of cute, clean jokes, some funny pics, and a hilarious video of Donald Trump starring in Braveheart. Whether you love him or hate him, you will belly laugh!
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Joke Du Jour
Before going on vacation, I went to a tanning salon. I was under the lights a bit long, and the protective shades I wore left a big white circle around each eye. Gazing at myself in the mirror the next day, I thought, "Man, I look like a clown.” I had almost convinced myself that I was overreacting until I got in line at the grocery store. I felt a tug at my shirt and looked down to see a toddler staring up at me. He asked, "Are you giving out balloons?"
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Even Cavemen Played This Game With Their Kids
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Private Money Commercial Permanent Loans From $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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Movies Joke
My mother and I were walking through the mall when a man stopped us to ask if we would take part in a survey. One of the questions was, "Do you think there is too much $ex in movies?" "I don't know," replied my mother. "I'm usually too wrapped up in the film to notice what the rest of the audience is doing.”
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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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Sometimes Joke
Sometimes...
when you cry,
no one sees your tears.
Sometimes...
when you are in pain,
no one sees your hurt.
Sometimes...
when you are happy,
no one sees your smile.
But fart just ONE TIME!
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-Today's Lesson -
You Can Make Plans Around Commercial Real Estate Seasonality
Commercial real estate lending is very seasonal, and I suspect that the same ebbs and flows affect commercial brokerage. For example, commercial borrowers are desperate for commercial loans between March 1st and April 15th, and then they absolutely disappear for a month. It’s a good time to take some time off with your family. The summer is busy until August 1st, and then your office phones will sound like a morgue until mid- September. Commercial borrowers are all on vacation, so you might as well take a vacation too. But then Busy Season begins.
Busy Season - the Christmas retail season for commercial real estate finance - begins September 15th and ends November 30th. Commercial lenders will close 40% of their loans for entire year in that short 2.5 month stretch. A commercial mortgage broker would be nuts to schedule a vacation between September 15th and November 30th! We at Blackburne & Sons do not allow vacations between those dates.
Commercial brokers might have different dates than commercial mortgage brokers, although I suspect they are similar. My point is that commercial brokerage must have seasons. Commercial loan applicants appear to mortgage brokers like schools of fish appear to a fisherman. The fisherman will go days with lousy hauls of fish, and then a school of fish will appear and his nets will fill to capacity. You can’t be out playing golf and goofing around when the fish are schooling. Get your tail to the office and work with 10:00 pm every night until the school of commercial loan applications moves on. In a few weeks the mortgage broker will be scratching for deals again.
The same is probably true for commercial brokers. Make sure you are not on vacation when the fish are schooling.
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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, CommercialMortgage.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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Crocodiles Joke
"Indonesia's anti-drug chief is proposing that the country put narcotics offenders in a jail on an island surrounded by crocodiles. The plan is to send the inmates food supplies every day, but they will have to survive on their own. This already sounds like a reality TV show I would totally watch.” — James Corden
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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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Looks Like a Good Place For a Park
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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 have a terrific apartment permanent program that can compete with agency loans.
- 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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Maturity Joke
My wife accused me of being immature. I told her to get out of my fort.
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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.
Note: CommercialMortgage.com is so stuffed with bankers that I am getting ready to shut down this offer. This offer ends August 31, 2018.
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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Blood Joke
Lawyer: I have some good news and some bad news.
Client: Well, give me the bad news first.
Lawyer: They found your blood all over the crime scene.
Client: Oh no, I'm ruined! What's the good news?
Lawyer: Your cholesterol is down to 130!
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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. Here is our referral fee agreement.
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On a Personal Note
August 15th, the day is finally here. I am getting solar. It took a lot more work than I expected, but after all the battles with my local utility company it will soon be over.
It amazes me that the utility company, the one standing to losing money by homeowners getting solar, is in charge of the solar approval process. It is the fox watching the hen house. They fought me every step of the way, even denying my request 4 times.
But after all was said and done, they reluctantly signed off. Now I will have green energy and be saving money. Well worth it!
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Don't Forget About C-Loans
C-Loans.com has a whole new crop of hungry commercial lenders, 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
For a computer programming class, I sat directly across from someone, and our computers were facing away from each other. A few minutes into the class, she got up to leave the room. I reached between our computers and switched the inputs for the keyboards. She came back and started typing and immediately got a distressed look on her face. She called the teacher over and explained that no matter what she typed, nothing would happen.
The teacher tried everything. By this time I was hiding behind my monitor and quaking red-faced. I started to type, "Leave me alone!” They both jumped back, silenced. "Whaa??" the teacher blubbered. Then I typed, "I said leave me alone!" The kid got really upset. “I didn't do anything to it, I swear!" It was all I could do to keep from laughing out loud. The conversation between them and HAL 2000 went on for an amazing five minutes.
Me: "Don't touch me!"
Her: "I'm sorry, I didn't mean to hit your keys that hard."
Me: "Who do you think you are anyway?!" Etc.
Finally, I couldn't contain myself any longer and fell out of my chair laughing. After they had realised what I had done, they both turned beet red. Funny, I never got more than a C- in that class.
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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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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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