Commercial Loans Blog

Commercial Loans and Helicopter Money

Posted by George Blackburne on Sun, Jul 24, 2016

helicopter_money.jpgBelow you will find my latest Investor Letter, our monthly newsletter to our 1,000+ private commercial mortgage investors, somewhat similar to Warren Buffet's annual letter to his shareholders.  I hope you enjoy it.

INVESTOR LETTER

July 22, 2016

Nobel Prize-winning economist, Milton Friedman, is known to be the one who coined the term, “helicopter money”, in the now famous paper, “The Optimum Quantity of Money”, where he included the following parable:

“Let us suppose now that one day a helicopter flies over this community and drops an additional $1,000 in bills from the sky, which is, of course, hastily collected by members of the community. Let us suppose further that everyone is convinced that this is a unique event, which will never be repeated.” -- Milton Friedman

 

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The reason that I am talking about helicopter money today is because I have heard this term, “helicopter money”, used more often by financial commentators in the past thirty days than in the past five years.

Now I have been blessed – truly blessed (thank you sooo much!) – by loyal investors who have stuck with Blackburne & Sons for more than twenty to twenty-five years. If you happen to be one of these old-time investors, I have three comments: (1) God bless you for your loyalty and your trust. The Great Recession was pretty awful, but together we limped through it; and (2) darn, we’re getting old, ha-ha; and (3) you may faintly remember that, long before Ben Bernanke was ever appointed Fed Chairman, I pointed out in one of our Investor Letters perhaps the most important economic speech given in our lifetimes, a speech made by then Fed Governor (but not yet Fed Chairman) Ben Bernanke, in November of 2002 to the National Economist Club in Washington, D.C., entitled “Making Sure ‘It’ Doesn’t Happen Here”:

“… the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation...” -- Ben Bernanke

 

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The “It” in the name of the above speech is deflation, and back in 2002, Japan had recently completed the first of its two Lost Decades. Let me state, for the record, that there are times when I am an absolute idiot. There has also been a few times, however, when I have accidently stumbled upon an observation that, in hindsight, looked pretty prescient. Making a special note of the above speech by a then obscure Fed governor was one of my luckier moments.

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“Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel.” -- John Quinton

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Okay, so why is everyone - especially commentators on the European economy - talking so much these days about “helicopter money”?

The answer is because quantitative easing and negative interest rates have not been enough to jumpstart the economy of the European Union. The economy in Europe is sluggish. The money supply refuses to grow, even with the European Central Bank (“ECB”) buying up trillions of Euros worth of sovereign bonds (a fancy word for bonds issue by a country, like Italy) and even with the ECB buying up trillions of Euros worth AAA and AA-rated corporate bonds. Inflation just won’t stay lit.

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When we take our dog on a car journey, we carry his drinking water in a gin bottle. On one occasion we stopped for lunch and let him out of the car. Pouring some water from the bottle into his bowl, I noticed a man watching with fascination. He came over to me and whispered, "I hope that you're not going to let him drive!"

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Why won’t inflation ignite in Europe? In school we were all taught that when the Fed (or the ECB in the case of Europe) pumps money into the system that inflation was the result. In truth, this lesson is an over-simplification. The money supply only grows if banks are willing to lend and borrowers are willing to borrow.

In the United States, we recapitalized our banks - gave them cash to rebuild their loan loss reserves and their capital (the dough left in the bank to act as a further cushion against losses). Do you remember TARP? That was a $700 billion bailout of U.S. banks. It was pretty controversial at the time, but in hindsight, it was the right move. Most of that money was eventually paid back to the Treasury by the banks and by AIG Life Insurance Company.

 

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Bam! Oh, my goodness, what was that??? That’s the teacher’s yardstick slapping the desktop. “Pay attention,” my professors used to say, “This is on the test.” The European Union did not recapitalize its banks. Hundreds of billions of Euros worth of loan losses from the Great Recession have still not been written off by European banks. Many of the largest banks in Europe – including names like Deutsche Bank and Credit Suisse – are very weak. Weak banks tend not to lend money out like crazy.

In order for inflation to ignite, banks need to be willing to lend.

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Q: What's the difference between a poorly dressed man on a tricycle and a well-dressed man on a bicycle?

A: Attire.

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According to my favorite economist, Ben Bernanke, “The U.S. government has a technology called a printing press… (and) under a paper-money system, a determined government can always generate higher spending and hence positive inflation.” If banks just won’t lend and borrowers just won’t borrow, the ECB can always drop one-hundred Euro bills from a helicopter.

If I were the head of the ECB, I would distribute one-trillion Euros between all of the countries of the European Union and insist that they use this dough to put a solar panel on the roof of every home and every commercial building in the union. This move would be considered a helicopter drop.

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You have a real estate or mortgage web site, right?  Open up your home page, create a link that says, "Commercial Mortgages" or "Commercial Loans", point this link to http://www.C-Loans.com, and Voila, you're done.  Now forget about it.  It may be one year or two years or three years, but if your site enjoys some good traffic from wealthy real estate investors, you might get a call like this (true story!):

"Are you Mr. Alan Dunn?  Guess what, Alan, I have some very good news for you.  I have here a referral fee check for $21,250.  An investor visited your web site while you were sleeping and clicked on your "Commercial Loans" link.  He came to C-Loans.com and filled out a loan application for a $17 million land development loan.  The deal closed!"

Our software is programmed to automatically capture the referring URL (the address of your website), and that URL is printed at the bottom of every C-Loans application that came from your site.  When the deal closes, we look up the owner of the referring URL and pay him a nice fee.

There is nothing more to the process.  You do NOT have to notify us that you have created the link. You do NOT need any special partner code.  Just create the link and point it to C-Loans.com.

"But George, how do I know that you won't cheat me out of my fee?"

There are times - especially after a big loan payoff - when there is over $3 million sitting in our loan servicing trust accounts.  We literally make our living based on trust, and this is the start of our 37th year in business.

And folks, if you are going to the trouble of adding a link to C-Loans.com on your website, why add just one?  If it were me, I would add a "Commercial Financing" tab at the top of the page, a "Commercial Loans" link on the left or right side, and a "Apply For a Commercial Real Estate Loan" link in the footer.  Any new page I added after this first one, I would make sure that it had the same links.  Why not?  Why not increase your chances of catching the idea of a commercial real estate borrower?

 

Earn a $21,250 Referral Fee  In Your Sleep

 

Keep looking for the contact information of a banker making commercial real estate loans.  You can trade his contact information for a free directory of 2,000 commercial real estate investors.

 

Free Directory of 750+  Commercial Real Estate Lenders

 

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 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?

 

Apply For a Commercial Loan to Blackburne & Sons

 

Got a commercial loan request that deserves a low-rate loan from a life company, commercial bank or conduit?

 

Submit Your Loan to 750 Commercial   Lenders Using C-Loans.com.  It's Free!

 

Are you finally ready to add a commercial mortgage brokerage division to your existing commercial realty brokerage?  All you need is a desk and a phone, and there is no easier way to meet wealthy commercial real estate investors than to be a commercial mortgage broker.  After all, poor people do not own shopping centers.

 

Nine-Hour Video Training Course  How to Broker Commercial Loans

 

Want to receive free training lessons in commercial real estate finance ("CREF")?

 

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Got a buddy or a co-worker who would benefit from learning commercial real estate finance?

 

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Topics: Investor Letter

Sizing a Commercial Loan

Posted by George Blackburne on Wed, Jul 20, 2016

To many of you, Blackburne & Sons is an ancient commercial mortgage company; but we're "only" 36-years-old.  There are some commercial mortgage banking companies that make us look like wet-behind-the-ears youngsters, companies like Holiday, Fenoglio and Fowler, George Elkins Company, or George Smith Partners.

What is the difference between a commercial mortgage brokerage company and a commercial mortgage banking company?  A commercial mortgage banker is defined as a company that services its loans (collects the payments every month) for its investors.  Typically commercial mortgage bankers are correspondents for life companies; although Blackburne & Sons is arguably also a commercial mortgage banker because we collect the payments for our private investors and for our various mortgage pools.

 

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Okay, but what is a correspondent?  A correspondent is a commercial loan origination company that acts as the branch office of a commercial lender.  Typically a correspondent is the exclusive representative of a lender for a specific area or region, like Southern California.

An example will make this clear.  Suppose you're a small life insurance company out of Indianapolis, Indiana named Grant Life Insurance Company.  You've only got $4 billion in assets, so you can't afford a branch office in every gateway city, where you greatly prefer to invest (make large permanent loans).  Therefore you set up seven or eight correspondents across the country to be your branch offices.

If a borrower calls the home office of Grant Life Insurance, the receptionist will ask him where the property is located.  If it is located in, say, San Francisco, the receptionist will look at her chart and see that George Smith Partners is the exclusive correspondent for Grant Life in the Bay Area.  The only way a borrower can get a commercial loan from Grant Life in the San Francisco Bay Area is through George Smith Partners.

Free List of 3,159 Commercial Lenders  Sort By Your Own Criteria

Although there are older commercial mortgage companies than Blackburne & Sons, in truth there are not a whole lot of them.  Why?  Because every 12 years or so, commercial real estate is hit by horrible depression, where commercial real estate falls by almost exactly 45%.  Almost exactly 45%?  In each of the three horrible commercial real estate depressions that I have endured since founding this company in 1980, commercial real estate fell by almost exactly 45%.

A good colonic is good for the industry.  Those commercial mortgage companies without loan servicing income are nuked off the face of the planet.  It's the loan servicing income, silly!  With 90% of the competition gone, the commercial mortgage bankers (they've got servicing income to tide them over) really mop up in the recovery years.

 

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Okay, we're finally getting to the point of today's training article.  Even after 36 years in the commercial real estate finance ("CREF") business, I still learn new stuff from the "Big Boys" almost every day.

Funny story:  So I am at the Western States Commercial Real Estate Finance Conference, the biggest trade show of the year for the CREF industry, in late 2007.  I am boasting to an attendee that C-Loans.com had placed $206 million in commercial real estate loans in 2006.  He was very polite and surprisingly humble, but then he informed me that the last commercial loan he closed (just one loan!) was for $250 million.  I felt like George Constanza coming out of a cold pool in that famous Seinfeld episode.  Humbled!  Ha-ha!  Yeah, the Big Boys.

Anyway, I subscribe to FinFacts, a wonderful newsletter published by George Smith Partners.  I religiously read these newsletters because they use lingo that I often have to research just to understand.  Remember, I write this blog to train my two sons and my wonderful staff in commercial real estate finance ("CREF").

In a recent FinFacts newsletter, the author deservedly boasted:  "Fixed for five years at SWAPs+225, the non-recourse loan was sized to 65% of current appraised value from a California Portfolio capital provider."

Note the expression, "sized to 65%".  That's the way the Big Boys say it.

Okay, so let's make some money together.  Do you have real estate web site?  This should be a no-brainer.  We once paid Alan Dunn a referral fee of $21,250, and he was sleeping when he send the lead to us!

 

Put a Link on Your Site To Earn Huge Referral Fees

 

Surely you know at least one banker who is in the market to make commercial real estate loans.  We solicit these guys to send their turndowns to C-Loans.com.

 

Free Directory of 750+  Commercial Real Estate Lenders

 

Attention Commercial Real Estate Brokers:  Poor folks do NOT own shopping centers.  Want to meet a half-dozen wealthy commercial real estate investors every day? Open a commercial mortgage company!  All you need is a desk and a phone.

 

Nine-Hour Video Training Course  How to Broker Commercial Loans

 

Do you need a lender who will allow a negative cash flow?  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?

 

Apply For a Commercial Loan to Blackburne & Sons

 

Do you need an "A" quality commercial real estate loan?

 

Submit Your Loan to 750 Commercial   Lenders Using C-Loans.com.  It's Free!

 

Are you just browsing today?

 

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I write this blog to train my two wonderful sons in commercial real estate finance ("CREF"), and you get to peek in and learn as well for free!  I try to write at least two training articles in CREF very week.

 

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Got a buddy or a co-worker who would benefit from learning CREF?

 

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Topics: Sizing

Every Commercial Loan Package Needs Pretty Pictures

Posted by George Blackburne on Wed, Jul 13, 2016

Ugly_Office_Building.jpgI am going to teach you a quick and easy way to get pictures taken of a commercial property that is more than 200 miles away - far beyond driving distance.

Today's training article was inspired by a real life commercial loan request on C-Loans.com.  The mortgage broker had a very do-able commercial mortgage deal in his hands.  It was a 44-unit office complex in Ohio, and the property was 100% occupied.  He was only looking for a $3.1MM permanent loan.  Just $3.1MM - wow!  This commercial loan request should have been a slam-dunk deal and a cool $31,000 commission to the mortgage broker.

 

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The deal was turned down by over 30 different lenders.  Huh?

Yup.  And do you know why?  The mortgage broker attached the most butt-ugly picture I have ever seen on any C-Loans app.  Why was it ugly?  Let me count the ways:

  1. The picture was horribly out of focus.  By the way, the picture above is NOT of the butt-ugly property, even though this picture is a little depressing.  Compared to the subject, however, the above office building is a supermodel.

  2. The resolution was really low.  The picture looked liked a thumbnail that had been blown up 60 times.

  3. The picture was taken on a dreary, overcast day.  Guys, blue sky sells.  Always make sure your property pictures are taken on a bright, shiny day with a beautiful blue sky.

 

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Now this mortgage broker was not an idiot.  He had very competently completed his C-Loans app.  I'm sure he realized that his picture was atrocious.  His problem was that he was located in Michigan, and the property was located in Ohio - a six-hour drive away.  I'm sure this mortgage broker asked the borrower for better pictures, but the borrower just didn't appreciate the importance of the picture.

A good argument can be made that the single most important document in a commercial loan package is the picture(s) - even more important than the Pro Forma Operating Statement.

So what could this broker have done?  He should have hired a nearby real estate broker to take the pictures for $50 or so.  Here is how you do it:

  1. Go to Google Maps -  http://maps.google.com

  2. In the Search Google Maps field, insert the address of the property.

  3. In many cases, Google has a nice front view of the property that you can download and use.

  4. If not, click the Nearby button and a search field will appear.  Type in "Real Estate Broker".  There will usually be few within a five-minute radius.

  5. Call the real estate office and offer one of the salesmen $25 to $50 to take a few pictures and send them to you by email.

  6. Voila!

 

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Yikes.  I'm a crazy cat lady.  We've got six of them.

Do you have a mortgage or real estate website?  We once paid a guy named Alan Dunn a referral fee of $21,250 for placing a Commercial Mortgages link on his website.

 

Earn a $21,250 Referral Fee  In Your Sleep

 

Keep looking for the contact information of a banker making commercial real estate loans.

 

Free Directory of 750+  Commercial Real Estate Lenders

 

Got a commercial loan that deserves a loan from either a life company, commercial bank, or conduit?

 

Submit Your Loan to 750 Commercial   Lenders Using C-Loans.com.  It's Free!

 

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 lender who will also look at the borrower's global income - income from salaries, other investments, etc.?

 

Apply For a Commercial Loan to Blackburne & Sons

 

Want to learn commercial real estate finance for free?

 

Subscribe To Blog

 

Got a friend or a co-worker who would benefit from learning commercial real estate finance?

 

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Topics: commercial loan pictures

Co-Op Marketing For Commercial Loans

Posted by George Blackburne on Sun, Jul 10, 2016

The marketing trick that I will share with you today can be used to solicit commercial loans, find hungry commercial real estate buyers, find developers ready to order plans, identify bankers about to order a toxic report, or even real estate brokers ready to order a title commitment (called a preliminary report for those of you west of the Mississippi).

 

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The trick:

Find another company - not a competitor - who advertises to the same potential customers and then split the cost of the advertisement with them.

Folks, product placement (when James Bond drives a BMW in the latest 007 movie) and cooperative advertising is the latest trend in marketing. Last night Cisca and I counted FIVE commercials in just two hours where two different advertisers shared the cost of a 30-second TV ad. Doritos shared an ad with the new Ice Age movie. Safeco shared an ad with Banana Republic. Now that I have pointed it out, you will see marketers from two different companies sharing the cost of marketing everywhere.

 

Free List of 3,159 Commercial Lenders  Sort By Your Own Criteria

Another example:

I own 100% of both C-Loans, Inc. and Blackburne & Sons Realty Capital Corporation.  C-Loans, Inc. provides software to banks and other commercial lenders that allows them to receive commercial mortgage leads / mini-app's online.  The only twist is that our lenders only pay us if they actually close a deal.  That's fine with us because our lenders have closed more than 1,000 commercial real estate loans using our software.  Smart tip:  You make far more money if you are willing to work on a contingency (success only) basis.

Blackburne & Sons is a private money commercial lender - but with a twist.  We make long-term commercial loans (permanent loans), as opposed to bridge loans, and we make our dough, not from up-front points, but rather from a very profitable loan servicing fee (essentially an interest rate  spread).

My two companies are NOT competitors, yet they market to the exact same customer base:  commercial real estate brokers, mortgage brokers, lenders, and investors.

Therefore those of you who have received our fun newsletters have probably noticed that our C-Loans newsletters contain a lot of plugs for Blackburne & Sons and our Blackburne & Sons newsletters contain a lot of plugs for C-Loans.  Voila - a perfect example of co-op marketing!

 

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And another example:

Bob and Steve are drinking buddies. Bob works for a sub-prime residential lender, and Steve brokers commercial loans. Bob gets 90% of his business by sending newsletters by snail mail to A-paper residential mortgage brokers, soliciting them for their turndowns. One day, between beers and ribald jokes, Steve complains to Bob, "I've got 500 residential mortgage brokers on my mailing list, but it costs me $1.50 per broker to send them a snail mail newsletter. As a result, I can only afford to mail to them once a month. If only I could get my cost down to $0.75 per newsletter. Then I could advertise twice per month, and I would make a lot more money."

Through a beer fog, Steve still sees an opoportunity. "You know, Bob, you and I are not competitors. You're a residential guy, and I'm a commercial guy. We both advertise separately to residential mortgage brokers. Why don't we share the envelope? You stick in a one-page flyer about subprime residential mortgages, and I'll stick in a one-page flyer about commercial mortgages. Then we'll share the cost of the snail mail postage and envelope. It's a huge win-win."

Mary, a hot, 39-year-old, recent divorcee, notices Steve (who is sort of butt-ugly) through her own beer googles and thinks to herself, "Well, he's not that bad." Later Mary invites him home "for coffee". It was a great evening all around for Steve.  Mary chewed her arm off rather than wake Steve in the morning.

One final hypothetical example:

A title company, a toxic report company, and an appraisal company should share their contacts, split the ad costs, and - if each firm paid one-third - each reduce their cost of advertising by 67%.

Sorry guys, but you must be a commercial real estate loan officer working for either a commercial bank or a credit union to take advantage of the following offer:

 

Banks and Credit Unions:  Get 200 Free SBA Loan Leads

 

A perfect example of cop-op marketing is when a commercial brokerage company (they sell commercial-investment real estate) opens a small commercial mortgage brokerage operation.  The dough they spend advertising for commercial loan clients will introduce them to a tons of wealthy investors - to whom they can later obtain listings or sell commercial-investment property.  Verbal proof story:  I now manage $50 million in commercial real estate loans for my investor clients.  The vast majority of my early investors were commercial loan clients (borrowers!) for whom I worked on a loan.

 

Nine-Hour Video Training Course  How to Broker Commercial Loans

 

Got a commercial loan that is clean enough for a life company, a commercial bank, or a conduit?

 

Apply For Commercial Loan  From a Life Company

 

Does your commercial mortgage 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 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?

 

Apply For a Commercial Loan to Blackburne & Sons

 

Did you learn something today?  Want to receive free training in commercial real estate finance?  I try to write two training articles per week.

 

Subscribe To Blog

 

Got a buddy or a co-worker who would benefit from learning commercial real estate finance?

 

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Topics: Co-op Marketing

Glossary of Commercial Loan Terms in Plain English!

Posted by George Blackburne on Wed, Jul 6, 2016

Lots of companies have created glossaries of commercial loan terminology where they define fancy terms like debt yield ratios, defeasance, lockout clauses, and standby takeout commitments.  Our new glossary strives to be different.

Our new commercial loan terms glossary strives to explain these sophisticated topics using easy-to-understand, everyday English and lots of real-life examples.  I have always been a little slow-witted myself, and examples help me a ton.  "Suppose you're the Chief Investment Officer with a life company, and you need to know exactly what yield you will earn on your mortgage investments..."

 

Free List of 3,159 Commercial Lenders  Sort By Your Own Criteria

 

Here is our new glossary:  http://www.c-loans.com/knowledge-base/commercial-loan-terms-glossary  You should bookmark it right now because it will get larger and more complete every week.

 

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This new glossary is part of the new Knowledge Base section (you'll find it under the Knowledge Base tab) in C-Loans.  My goal is to eventually have this glossary and this Knowledge Base compendium in C-Loans.com so complete that a starving newbie, someone too poor to even buy my basic training course, can learn the entire business of commercial real estate finance ("CREF") just by studying it.  I am pretty much there already.

Are you confused about about some fancy commercial loan term, like the difference between a permanent loan and a takeout loan, please write to me, George Blackburne III (the old man).  I'll try to blog on the subject so that not only will you learn this fancy lingo, but also so will future visitors to C-Loans.com.

 

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Did you bookmark our new Glossary of Commercial Loan Terms?  As the hillbillies say, "Git 'er done!"  :-)

Are you finally ready to learn commercial real estate finance?  Those of you who are commercial real estate brokers who sell investment properties are crazy not to open a little commercial mortgage company in your office.  You just need one guy, a desk, and a phone.  In most states he doesn't even have to be licensed.  Why open a little commercial mortgage company?  There is no better way to meet high-net-worth real estate investors than to own a commercial mortgage company.   Po' folks don't own shopping centers.  Every day your little ads will introduce you to four or five wealthy investors.

 

Nine-Hour Video Training Course  How to Broker Commercial Loans

 

Hey guys, please keep looking for commercial bank loan officers who make commercial real estate loans.  We'll trade you a free directory of 2,000 commercial real estate lenders for the contact information of that one banker.  We solict these bankers for their turndowns.

 

Free Directory of 750+  Commercial Real Estate Lenders

 

Got an "A" quality commercial loan that deserves financing from a life company, conduit, or commercial bank?

 

Submit Your Loan to 750 Commercial   Lenders Using C-Loans.com.  It's Free!

 

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 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?

 

Apply For a Commercial Loan to Blackburne & Sons

 

 

Just browsing today?

 

Free Commercial Loan Placement Kit

 

Did you learn something today?  Subscribe to our blog and get two free training lessons in commercial real estate finance every week.

 

Subscribe To Blog

 

Got a buddy or a co-worker who would benefit from learning commercial real estate finance?

 

Forward To a Friend

 

 

Topics: Glossary