I recently watched a TV commercial for a local bank. At first I thought the ad was for a travel website, because they showed families enjoying their vacation. Then I realized they were selling their ATM access. Nothing was said about loan programs or commercial lending. The fact is, they don’t want borrowers to contact them because the answer is most likely going to be NO.
When borrowers and brokers send us a request for commercial real estate funding, we always respond with questions. Every loan request that comes to us is in raw form and needs to be prepared for lender review. Many times these loans are prepared by a third party and when asking for additional information the client points to an extensive business plan, which may have been written for a different audience.
Commercial Loan Packaging
Thank you for taking time to read this blog. You certainly could be doing other things and you most likely appreciate reading a message that is well articulated, with proper use of grammar and correct spelling and punctuation. I spent time thinking about the points I wanted to highlight and proofread my draft before publishing it on the website. I hope you find this article thought provoking and entertaining.
If I wrote this using my smartphone, I would leave out some important points. It would have numerous spelling errors, lots of abbreviations, and would be all lower-case. You probably would not bother to read all of the text because you would get annoyed with translating SMS language to English.
Email is Legally Binding
Commercial Lending Report
Even with uncertain economic indicators and slow hiring, rental housing demands are increasing. Conditions remain favorable for multifamily markets across the nation. The demographic trends indicate high levels of immigration, the surge in echo boomers forming their own households, a further shift away from homeownership, and the growing diversity in household composition support continued demand for rental housing.
It’s an exciting time for the Private Commercial Lending industry. 2012 trends are showing growth for commercial investments and many regional and local banks have started lending again for commercial projects. The demand for private money is still very high as the banks and mortgage companies are still avoiding construction and land development. Also the recent years’ lack of funding for notes coming due and distressed properties has left the door open for Hard Money Lenders and Equity Lenders.
You are probably wondering what the title of this article has to do with the business of Private Lending for Commercial Real Estate. I was listening to the Tom Petty song and thought about the important attributes of commercial real estate brokers. In our business, success comes from being patient and understanding the timing of the process.