Fishing for Commercial Borrowers

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Fishing for Commercial Borrowers

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.

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TOP 10 Funding’s top 10 Top 10 lists

As the end of 2012 approaches, I thought it would be appropriate to post some random Top 10 Lists, if for no other reason, to drive some random traffic to our site.TOP 10 Funding LLC

Here are some links to the links I found in my search.

# 10 – Top 10 things to do before starting a business

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Apartment Construction Market Shows Signs of Improvement

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Commercial Lending Report

Apartment Demand UApartment Absorbtion vs. Employment Graphp, Despite Unemployment


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.

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The Waiting is the Hardest Part

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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.

Patience

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TOP 10 Deal Killers

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Commercial lending, for the most part is based on the value and performance of the commercial assets used as collateral. Commercial Loan RIPBecause of the focus on the asset performance, many borrowers expect commercial loans to be non-recourse.

Most borrowers are optimistic investors leaving much to chance. Most private lenders are bullish and use mathematical models to provide risk assessment. Loan originators are jammed up in the middle.

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And the Answer is…

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Have you applied for a commercial loan lately? Most banks are not doing commercial loans and others just wait forever to give you an answer. They don’t want to lose you as a customer and they really don’t want to fund your project.Gameshow

Commercial loan brokers are aware of the painfully long process of closing a loan for commercial real estate. The process will take several months to complete. It can be even longer for construction loans or business loans that are not tied to commercial assets. For example, HUD loans can take 18 months to fund. Recently, a borrower in Honolulu came to me to refinance an operating assisted living facility. He has been working with a local bank to refinance for 6 months and still does not have an answer.

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