Don't Dabble...
Get It Done!!!!
Next week, I will share a powerful marketing tip to build your commercial business with. But this week I want to share some recent closings so you can get a feel for the types of deals that can be done. WHILE OTHERS TALK COMMERCIAL, WE GET THEM CLOSED!
Reprinted from Brian's weekly tips,
dated May 15, 2006
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Our last 4 closings/fundings:
All between May 1, 2006 - May 8, 2006
13-unit apartment complex, Muncie, In
$520,000 Loan Amount
Special Situations: Property was in a trust; borrower needed cash-out; had mortgage lates and discrepancies on income had been denied everywhere! WE GOT HIM CLOSED! The rate? An incredible 7.2% on a 10-year fixed, 30-year amortization!Office Condo Purchase, Las Vegas, NV
$468,000 Loan Amount
Special Situation: Small business owner needed a stated income loan fixed and did not want to pay more then 10%. He had an 80% LTV, the rate? 9.6% FIXED for 5 Years and a 30 year amortization!40 duplexes on one deed, Taylorsville, NC
$1.35 Million Loan Amount
Special Situation: Borrowers needed to get out of high interest construction loan and pull some cash out. The property was rural and not common (20 duplexes on one deed.) We closed at a 7.15% rate on a 10-year fixed, 30-year amortization with NO POINTS TO THE BORROWER (we made 2 points back - split 50/50 with broker) and the borrower got some cash out to Boot!Dental Office, Eureka, MO
$618,750 Loan Amount
Special Situation: Doctor with good credit and financials wanted to refinance his existing loan and aggressively shopped the loan. Location was outside the Metropolitan Statistical Area so few lenders wanted to touch it (too rural). We got him closed on a 30-year FIXED RATE at 7.99% - no points!
Total fees on these four loans was over $66,000 (average of $16,500 per loan)! 3 of these 4 closings were the first time the loan officer had ever closed a commercial loan! 3 of them were closed on the 50/50 split but all 3 became a Net Branch! The fourth was already a net branch. So far, I have two testimonials from these brokers:
“Brian is everything that he presents himself to be in all his materials. Brian is not
only a great guy but he’s very knowledgeable and accessible. When I took on my first
commercial deal, I honestly expected to have an opportunity to speak with him
maybe once and thought I would never talk to him directly again. To my surprise,
we spoke regularly about the loan in process. He helped me get the deal to the closing
table with a personal, hands-on approach. Nikki is also a tremendous asset. She was
able to get information to me quickly and efficiently. Together they are a great team
that I am excited to work with in the future. I’m very impressed with Brian’s
accomplishments at his age or any age for that matter. He’s a person with goals and
focus that I can certainly learn a lot from. Thank you Brian for all your help.”
-- Jamie Harrington, United Carolina Group
(Note: Jamie signed up as a net branch with the profits from this transaction.)
Glen Thompson had a deal and signed up as a net branch before bringing it in the door – in 2 years of occasionally taking the commercial deal he had been unable to close any – his first deal as a net branch closed, here is what he said,
“We signed up as a commercial branch this year and closed on our first loan this week. We have dabbled with commercial loans over the past couple of years but I believe your training and support provided us with the tools and confidence we needed to finally be successful. You can waste a lot of time on commercial deals if you don‚t weed them out by asking the right questions from the beginning! Being a branch of Nexus Financial definitely gave us leverage on our rate and attention to our loan from the lender. We have more commercial loans in our pipeline and it’s growing.”
Whatever your situation, whatever your commercial needs, we have the depth and resources to get it done. Quick terms, real closings, marketing materials, we have it all! Just one number is needed – Call Commercial Capital today at 866-355-1244 EXT. 2225 and ask for either a broker package or a net branch package and get set up today!
Download the net Branch Package here
Your future awaits!
Click here to view my offer and get started now.
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