Commercial Loans Blog

Find Commercial Lenders Using the Pitreadie Digest

Posted by George Blackburne on Fri, Mar 18, 2011

I often tell my students, "One of the best ways to close commercial loans is to read a summary of the deals that your commercial lender has recently closed.  This way you can discover your commercial lender's sweet spot - their favorite loan size, their favorite property type, and their favorite lending area."

The Pitreadie Digest is a commercial lending newsletter - written for investors, developers, and mortgage brokers - that covers about ten to twelve different commercial lenders in every issue.  This four-page newsletter comes out twice a month, and each issue includes all of the contact information for these 10 to 12 commercial lenders.

The newsletter describes the commercial loans that each lender has recently closed, their pricing, their likes, and their dislikes.  It also covers emerging industry trends, such as the reawakening of the CMBS industry or the explosion in the number of new hard money lenders.

For those of you who are developers or who work with developers, the service also covers equity providers.  For example, let's suppose you're a mortgage broker putting together a $10 million construction loan on a multifamily project in Washington, DC.  Your developer has a lot of experience, and he is contributing 20% of the cost of the project.  If the construction lender insists on more equity, using the Pitreadie Digest you might be able to find an equity provider to contribute more equity.

Are you an accredited investor?  If so, what are you doing with your IRA?  Investors are earning 11% to 13% in first trust deed investments.

Commercial loan placement

Are you a mortgage broker?  Be sure to download our free Commercial Loan Placement Kit, that includes a free list of 200 commercial lenders, our Commercial Loan Placement Checklist, our invaluable whitepaper on Placing Commercial Loans When the Banks Are Too Terrified to Lend, and our webinar on Structured Finance.  This is all yours free! 
Do you need a commercial loan right now.  You can submit your commercial mortgage application to 750 different commercial lenders in just four minutes using C-Loans.com.  And C-Loans is free!
Whenever I speak at mortgage conventions, it warms my heart when a ton of guys come up to me and say, "George, I just wanted to come over and shake your hand.  I took your nine-hour video training course, How to Broker Commercial Mortgage Loans.  It was terrific!" 
Keep your eye on the ball.  The object of the game is to build a loan servicing portfolio that pays you $500,000 a year in passive loan servicing fees, so you can play a little golf and never miss any of your kids' ball games.  There is no better way to build a loan servicing portfolio than to fund loans using your own private mortgage investors.  Four hour video course, How to Find Your Own Private Mortgage Investors.

Topics: commercial lending newsletter