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RESIDENTIAL LENDING NEWSLETTER
Volume 8: Issue 6 | July 9, 2019
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You are receiving this letter because you are a client of either Blackburne & Sons or C-Loans, Inc. Removal instructions are below. Today we'll discuss clearing out gangsters from REO's. We also have lots of cute, clean jokes, some funny pics, and a hilarious video compilation 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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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 these 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 are out:
- Nevada
- Minnesota
- Idaho
- Oregon
- South Dakota
- Vermont
- North Dakota
- Utah
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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. Remember, 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.
Call or email your favorite loan representative by clicking their picture:
(916) 338-3232
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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 Griffith
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Fifteen-Year Fix-and-Flip Loans for Residential Properties
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Most fix-and-flip lenders make one or two-year loans. If the market turned (a very real risk today) and houses stopped selling, the flipper might be forced to sell his cherry house at a loss in order to pay off the balloon. Had he had gotten a 30-year amortization, 15-year fix-and-flip loan from Blackburne & Sons, he could have simply rented out the property and enjoyed a positive cash flow until the time time was right to sell again.
Our fix-and-flip loans have no pre-payment penalty, so you can use them for 60 days or 15 years.
Click here to apply for a loan.
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- Today's Observation -
Clearing 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!
Click HERE for free training.
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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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Are You Wise Enough To Pay Attention?
There are literally hundreds of private money mortgage companies out there today, and you can probably get a decent loan from most of them. But here’s the thing. Virtually all of these hard money shops are newbies (since 2009), and they are funds. The problem with hard money mortgage funds is that they don’t survive recessions. As soon as a recession hits, the investors rush to withdraw. Suddenly the hard money shop running the fund has no money with which to lend and earn loan fees. With little income coming in, the hard money shop closes.
Think I am full of beans? There were 300 hard money mortgage businesses in 2006. Fewer than ten survived.
Why do you care?
You have lost your relationship with these lenders! Success in real estate finance is all about relationships. Consider the fact that Blackburne & Sons has been in business for almost 40 years. We survived the S&L Crisis, the Dot-Com Meltdown, and the Great Recession. We were just about the only hard money shop in the country to remain in the market every day of the Great Recession.
Most of you will ignore this. The handful of wise investors and brokers will build a relationship with Blackburne & Sons. Winter is coming.
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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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Hungry for Commercial Loans Too
Blackburne & Sons is also looking for hard money first mortgage loans - up to $1.5 million - secured by commercial properties nationwide. Our private money loans almost never have a prepayment penalty.
Click here to submit a quick application.
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Amore Joke
When the moon hits your eye like a big pizza pie, that's amore!
When you swim in the creek and an eel bite your cheek, that's a moray!
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Learn Commercial Real Estate Finance - 9hr Video Training
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Learn How to Easily Find Hundreds of Commercial Mortgage Loans. Learn How to Quickly Underwrite the Deals. Learn Over 100 New Commercial Mortgage Finance Terms. Get That Confidence You Know You've Been Lacking. Learn Exactly Where to Place Your Loan. Access to Hundreds of Lenders. Learn How to Package Your Deal. Most Important of All - Learn How to Collect Your Fee. Just $549.
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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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The Blackburne List - Freshly Updated in 2019
The Blackburne List is a list of over 2,500 commercial lenders located nationwide. It 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.
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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 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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Video - Hilarious Compilation of Bad Ideas
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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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A member of the Blackburne Family of Companies
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4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
P: (916) 338-3232
F: (916) 338-2328
CA DRE #829677 // NMLS #103430
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