Posts Tagged ‘commercial mortgage broker
05
Nov
11
Donald and the economy
According to a recent article in GlobeSt.com, Excel Trust Inc. has acquired the 473,640-square-foot Gilroy Crossing in Gilroy, CA for $68.5 million.
The Acquisition:
The Gilroy center, of which 325,431 square feet is owned, generates annual net operating income of approximately $5.3 million, according to Excel. The property is anchored by Target (non-owned), Kohl’s, Sports Authority, Ross Dress For Less, Bed Bath & Beyond, Michaels, and PetSmart and is currently 99% leased. There are also a variety of restaurants surrounding the center such as, Mama Mia’s, Tung Kee, Carino’s Italian and Panera Bread. My kids love the treats (cookies) at Panera Bread.
Buyer Profile:
Excel Trust, Inc. is a retail focused real estate investment trust that targets value oriented community and power centers, grocery anchored neighborhood centers and freestanding retail properties. Excel Trust trades publicly on the NYSE under the symbol EXL. The current management team has over 30 years of experience in the real estate sector having overseen more than $4 billion in retail related acquisitions and developments.
Financing:
Using a combination of cash and shares, Excel assumed the existing mortgage of approximately $48.0 million which bears interest at 5.01%.
The Location:
The property is adjacent to Highway 101 in Gilroy, one of the fastest growing communities in the Silicon Valley. The city’s proximity to Silicon Valley and the Bay Area, as well as excellent access to housing and transportation, gives Gilroy a location advantage for growing industries.
Santa Clara County is a major employment center for the region, providing more than a quarter of all jobs in the Bay Area. Built in 2004, Gilroy Crossing is in a trade area with an average household income within a 3-mile radius is $91,420.
As a frequent patron of the Gilroy Crossing Center, I hope new ownership will result in continued growth and expansion for the city of Gilroy.
A division of the largest commercial capital brokerages in the U.S., The Fernandez Group specializes in commercial real estate capital. The Fernandez Group provides commercial capital nationwide, supported by 100’s of proven commercial capital sources, aggressively financing in today’s environment. Contact us about your commercial capital requirements at (888) 890-2416 or email us at info@thefernandezgroup.com | http://thefernandezgroup.com
03
Dec
10
America On Sale
Commercial Foreclosures Up 500%
“Hang on for the ride”, was the mantra at a recent conference I attended regarding commercial real estate investing.
As thrilling as the opportunity might sound, I wanted more insight as to what all the HYPE was about in commercial real estate investing, so I decided to jot down some notes that struck a chord.
BUT IS IT ALL HYPE? You be the Judge…
Over the last decade many commercial property owners took advantage of the flexible lending environment, financing their dreams with highly leveraged, short to mid-term loans, anticipating quick future appreciation. But with the dramatic change in the economy and property values decreasing, the possibilities of refinancing are now slim to none.
The Big Wave is coming…property owners can’t refinance, can’t sell, where more and more banks are forced to work with the owners. It’s anticipated that over the next 18-24 months, everything will be on sale…
For those looking to CASH IN on the FIRE SALE…
Here are 7 Deadly Sins to Avoid in Commercial:
1. Paying too much for the property
2. Not enough cash equity for the investment
3. Lack of initial property due diligence
4. Over leveraging the property
5. Believing you can obtain market rate financing without having skin in the game
6. Waiting until the last possible moment to arrange financing and picking the wrong mortgage broker to provide financing for your project
7. Lack of a solid exit plan
Now that you know what to avoid, here are 6 common types of commercial opportunities:
1. Multi-family
2. Office Space
3. Retail
4. Mixed Use (Lifestyle Communities)
5. Hospitality (Hotels, Hospitals, Self-Storage, Mobile Home Parks)
6. Raw Land
And where do you find these opportunities? well here are 13 tried and true places to find commercial deals:
1. Hard Money Lenders
2. Private Lenders
3. Bank Workout Department
4. Defaulted Commercial Paper
5. CCIM Realtors, Brokers
6. REIC (Real Estate Investment Club)
7. Attorneys (BK, Probate)
8. Courthouse
9. Internet Search
10. Apartment Association
11. Letters to Owners
12. Distressed Properties
13. Networking Groups
Find the Help You Need! Sign up with us for VIP access to our HOTTEST DEALS…
At The Fernandez Group, we specialize in buying investment property. We are the premier real estate investment company in the Silicon Valley market. The type of properties we buy range from residential to commercial handymen’s specials, REO’s to pre-foreclosures. Our mission is to develop a list of clients who rely on our team for 100% of their purchases. If you would like for us to consider adding you to our current buyers list, please contact us at (888) 890-2416 or email us at info@thefernandezgroup.com
12
Jul
10
Rates as Low as 0%? Impossible!
The benefits of our Commercial Loan Modification program are substantial and cannot always be quantified in dollars and cents.
For example, we can all agree that an interest rate reduction or the extension of your loan term to prevent a balloon payment or adjustable rate can be expressed in a simple math equation, right? On the other hand, consider the interest earned from increased cashed flow generated from those savings or the equity and returns gained by remaining in business during lean years which will only be realized by implementing a long-term solution.
See, most of our existing clients would not be in business today without the cash flow created by our strategic relationships with major commercial lenders. Imagine what it would be like if we were able to provide the same tangible, cash benefit to your business! Where would your business be in next three, five or ten years?
Submit your FREE Pre-Qualification today to see how much our Commercial Loan Modification can save you on the terms of your loan!
Free Cost Savings Analysis
We look forward to putting on paper the benefit of our program by providing you a Cost Savings Analysis at no cost or obligation!
Our free Commercial Loan Modification Pre-Qualification process gives us the information and insight we need to determine exactly how we can help you. All completed Pre-Qualification worksheets are reviewed by our seasoned negotiators and compared with previous loan modifications to determine the savings and cash flow we can add to your bottom line.
The typical turnaround for a no cost, no obligation Commercial Loan Modification Cost Savings Proposal is ten business days or less. Let one of our experienced negotiators review your Pre-Qualification worksheet to determine how we will can assist you today!
To receive your Free Cost Savings Analysis simply call our office at (888) 890-2416.
Remember, getting started is easy and costs you nothing to find out your potential savings!
Industry Leading Results
The good news is we are a full service company providing real-time status tracking via secure client portal. When it comes to your business investment you must be certain that you are working with a company that has your long-term best interest in mind.
Our Commercial Loan Modification staff consists of seasoned professionals with a minimum of ten years experience working directly with lenders in various capacities including underwriting, loss mitigation, valuation models and real estate law to ensure you receive the highest level of service, professionalism and results.
A careful approach and an understanding that your business needs to be positioned for long-term growth allows us to maintain a level of client satisfaction unrivaled in the our industry. We only take on new clients after thorough research and certainty that our solution will result in a strong value proposition for your business.
Feel free to contact one of our experienced professionals for more information on how we can serve your real estate and mortgage needs.
Contact Us
We are here for you and look for the opportunity to earn your referral business!
The Fernandez Group, a branch of a national commercial lending company, was started by Perry Fernandez to capitalize on the commercial loan requests. Over the years, we have learned the nuances of the commercial lending arena and now have the team in place to provide the great rates and flexibility of a broker with the underwriting knowledge of direct lenders. In so doing, we can fill the void between the local commercial bank with its slow approvals, rigid terms, zero follow-up and restrictive criteria and the “hard money” lenders who will give you 15%+ rates.
In fact, we will help structure the deal and can often get the loan approved with banks and lenders that you would be unable to get done. Plus, through a strategic alliance, we are a direct lender and correspondent lenders with several national banks–which means better pricing for you and your clients; and we have access to all of the nationwide lenders and direct conduits to Wall Street money.
As the numbers of deals we do grow, and the database of lenders that respect our underwriting grows, our ability to provide truly the finest service and terms available is reaching new highs. When you bring your deal to The Fernandez Group, you are getting a partner that will help you get the right deal for your dream. At The Fernandez Group, no dream is too big!
We are fast becoming the most proven player in the commercial lending space and we look forward to working with you to make your commercial dream a reality.
Think Big!
Perry Fernandez
888-890-2416
info@thefernandezgroup.com
http://thefernandezgroup.com
Receive all the latest tips, programs and insight from our Social Media Network:
22
Apr
10
Put on Your Cape and Fly!
You Are The Heroes!
“The credit belongs to the man who is actually in the arena; whose face is marred by sweat and blood; who strives valiantly; who errs and comes short again and again because there is no effort without error and shortcoming; who knows the great enthusiasms, the great devotion, spends himself in a worthy cause; who at best knows in the end the triumph of high achievement; and who at worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who have never tasted victory or defeat.”-Theodore Roosevelt
As I powered through the week, taking calls, making calls, writing loans and booking deals…I was stunned at the overall negativity amongst most. I would call a lender to run a deal by them and they would sound like their mother just passed away. I must admit, one of those days I got down myself as the sheer vastness of everyone’s depression, combined with some temporary sales defeats, had me temporarily focused on the negatives all around me. But as I woke up the next day through my routine, I got myself fired up again, and realized that you guys are the heroes in this marketplace.
Sales people, mortgage people, Realtors, those that are left in the arena are the hope of this time. Most people are looking to the Government, and begging them to take control of more and more, but I don’t think that will fix things long term. More government, in my opinion, is a band-aid, not a solution. The solution resides with us, those that are left in the arena. It is on our efforts, our creativity, our ridiculous optimism that the tide will eventually turn. You may think your labors amount to nothing, and that you are at the mercy of forces beyond your control. And in many ways, you are. But you can still control your response, you still have a say in how your life will play out. And you ARE out there making it happen.
I want to encourage you to stay in the arena because the country needs the fighters. If you are still in this market at this point then you are a fighter. You, not the government, are the true hope of this country. People need positive people, they need hope, they need good stories. They need heroes-they need you. And many of you are having awesome years. True, many Realtors and mortgage people are struggling. But if you are reading this, then you are still in the game. You are still fighting. You are still experiencing the high’s, the low’s, victory and defeat. It is Roosevelt’s quote being lived out each day. And if this economy does completely crash and the banking system collapses, then I am going to crash greatly, for my place is NOT with the cold and timid souls. I know both victory and defeat.
And I think we can accomplish so much more if we work together to help each other’s businesses. Let’s touch base if for no other reason than to encourage each other. Give me a call at 888-890-2416 or email me at info@thefernandezgroup.com and let’s do lunch or coffee and discuss ways to succeed together. Two are better than one, let’s join forces and craft our own destinies out of this trying time. Talk to you soon!
Perry
p.s. To find out more about our Commercial Financial capabilities that can help you close more transactions, or to just touch base and try to encourage each other during the battle, give me a call today at 888-890-2416 or email me at info@thefernandezgroup.com. I would love to get together with you and join forces to build an awesome future.
Receive all the latest tips, programs and insight from our Social Media Network:
12
Apr
10
Exponential Business Growth
Exponential Business Growth
Your database is an infinite source of revenue for you. 200 names marketed with alternating methods, such as emails and phone calls are good for a MINIMUM of 5 closings a month when done consistently (emails one month, phone call the next). You just see 200 names, but those 200 people each know 50 people on a first name basis which makes the database 10,000 and don’t you think you can get just a small percentage of that? Included in most people’s 50 “fast” names are insurance people, as well as colleagues, friends, church members, attorneys and more, the opportunities are endless!
And in tight times, you can add more value than ever before with a simple follow-up system of alternating emails and phone calls will have you top of their mind and inexpensively as well. A common question I get goes something like this, “Perry, what do I talk about when I call these people? Especially when I just talked to them 2 months ago? I was just wondering what kind of conversation topics you might suggest when you are talking to them that often?”
That first call after the first value added email should be a simple, “Just calling to make sure you received the helpful info I sent you” and then move into the best question of all…
“so how are things going?”
The key is to get them talking about their life and especially their problems because in the issues are the opportunities to sell other things…refer them to your affinity partners, etc.
The key is relationship, building trust, solving their problems and if everything is hunky dory, try to at least get a referral …something. Everyone needs to know a good Advisor, especially now as the market has changed. Make sure they have all your contact info and know that they can refer you. You do that on every call and you will be winning the game big time.
Remember, don’t make this hard…don’t call to sell them something. Call to check in, make sure you have their info correctly in your database, check to make sure they received your helpful info, and then ask them “how they are doing” and listen. Your database is a goldmine just waiting for you to tap it….
Perry
P.S. Remember, in tough times, often a good commercial mortgage firm can make or break a deal. Call me today to review not just changes in the industry but ways that we can help grow your business. We are more than a brokerage-We are trusted advisors COMMITTED to YOUR success. Just give us a call at 888-890-2416 or email us at info@thefernandezgroup.com
Receive all the latest tips, programs and insight on our Social Media Network:
30
Mar
10
Liquidity in an Illiquid Market
Providing Liquidity to Illiquid Situations:
The Fernandez Group has private commercial real estate providers of debt and equity nationwide. They partner with, and provide initial transaction terms and due diligence with sponsors, investors, and borrowers who can co-invest on the following types of transactions:
1. Distressed note acquisition
2. Distressed note financing
3. Distressed asset financing
4. Project recapitalizations
5. Existing loans
6. New acquisitions
7. Short term bridge loans
Products consist of deals from $1MM to $7MM and range from 1 to 4 years. If you or your client is in need of such financing please contact our team by clicking on the following link: Submit Scenario
The Fund’s strategy is to be a provider of capital in this market, versus a buyer of assets.
The focus of the Fund will be to provide capital in the form of debt, participating debt, preferred equity and equity. The Fund seeks to work with the following sponsors:
- Sponsors who have an opportunity to repurchase their debt.
- Sponsors who are in need of recapitalizing or restructuring their existing debt.
- Sponsors who have new opportunities under contract (fee simple acquisitions or note acquisitions).
- Legacy lenders wishing to sell or joint venture their problem assets. The Fund has developed a “private bad bank” model, designed to assist privately held community banks in removing troubled assets from the books without a write off and being able to maintain upside.
The Fund is focusing on the smaller balance space, and transactions in the $500,000-$10 million range. Yield requirements start at 12% and increases based on the risk profile. The Fund does not typically require recourse or yield maintenance, and transactions can typically be prepaid at any time.
If you or your client is in need of such financing please contact our team by clicking on the following link: Submit Scenario
Receive all the latest tips, programs and insight on our Social Media Network:
30
Mar
10
Rise Up to Your Potential
Sometimes, I come across articles that I think are really good. I like to share those with you from time to time. I hope this adds value to you today. Give me a call today at (888) 890-2416 or email us at info@thefernandezgroup.com to see all the ways I can build your business. Enjoy this article by best selling author and leadership expert Dr. John C. Maxwell.
“Discipline: The Path to Potential
By Dr. John C. Maxwell
He may have been the most naturally gifted baseball player of all time. He was clocked rounding the bases in an incredible 13 seconds. Yet, his speed was nothing compared to the power of his hitting. It’s been said there were home run hitters, and then there was this man – in a league of his own. The Guinness Book of World Records credits him with hitting the longest home run ever measured, at 643 feet.
The player I’m describing is the great Mickey Mantle. By the age of 19 he had been called up to play for the New York Yankees. He won a World Series his rookie year, and his teams would capture seven championships over the course of his career. By the time he retired, Mantle had played more games as a Yankee than any other player, and had been named MVP of the American League three times. He still holds the all-time World Series records for home runs, runs scored, and runs batted in.
Yet, in spite of his impressive accomplishments, experts believe Mickey Mantle never reached his potential. Most blame Mantle’s chronic knee injuries for preventing him from doing more. But injuries weren’t the root of the problem. What most people didn’t know was that Mantle was a raging alcoholic.
At age 62, with his health and family life a mess, Mantle checked into the Betty Ford Clinic and started the long road to sobriety. Looking back from this vantage point, he assessed his career:
I never fulfilled what my dad had wanted [to be the greatest player who ever lived], and I should have. God gave me a great body to play with, and I didn’t take care of it. And I blame a lot of it on alcohol.
Everybody tries to make the excuse that injuries shortened my career. Truth is, after I’d had a knee operation the doctors would give me rehab work to do, but I wouldn’t do it. I’d be out drinking… I hurt my knees through the years, and I just thought they’d naturally come back. Everything has always come natural to me. I didn’t work hard at it.
Despite his great natural talent, Mickey Mantle never disciplined himself off the field. By the time Mantle was ready to change, it was too late. His liver was ruined from a life of alcoholism, and he died at age 64 from inoperable cancer.
Four Truths about Discipline
What were you born to do? What is your dream? To become the person you have the potential to be, you have to cultivate a life of discipline. Consider these truths concerning discipline:
Discipline Comes with a Price Tag
Discipline is costly. It demands a continual investment of time, energy, and commitment at the expense of momentary pleasure and ease. Discipline means paying hours of practice to win the prize of skill. Discipline means giving up short-term benefits for the hope of future gain. Discipline means pressing on to excellence long after everyone else has settled for average.
Discipline Turns Talent to Greatness
When you read about someone like Mickey Mantle, you realize that too much talent can actually work against someone. Super-talented individuals can coast on sheer ability and neglect building the daily habits of success that will sustain them. Poet Henry Wadsworth Longfellow shared much insight when he wrote:
The heights by great men reached and kept
Were not attained by sudden flight,
But they, while their companions slept,
Were toiling upward in the night.
If you want to reach your potential, attach a strong work ethic to your talent.
Discipline Focuses on Choices, Not Conditions
In general, people approach daily discipline in one of two ways. They focus on the external or the internal. Those who focus externally allow conditions to dictate whether or not they remain disciplined. Because conditions are transitory, their discipline level changes like the wind.
In contrast, people with internal discipline focus on choices. You cannot control circumstances, nor can you control others. By focusing on your choices, and making the right ones regularly, you stay disciplined.
Discipline Does Not Bow Down to Feelings
As Arthur Gordon said, “Nothing is easier than saying words. Nothing is harder than living them, day after day. What you promise today must be renewed and redecided tomorrow and each day that stretches out before you.”
If you do what you should only when you really feel like it, then you won’t build disciplined habits. At times, you have to act contrary to emotions. If you refuse to give into your lesser impulses, no matter how great they will make you feel in the moment, then you’ll go far.
Summary
Discipline is a matter of taking total responsibility for your future. Choose not to blame circumstances for the outcome of your life. Choose to go beyond your natural talent. Choose to make wise decisions repeatedly. Choose discipline as the path to your potential.”
Receive all the latest tips, programs and insight on our Social Media Network:
26
Mar
10
Be Fearless
Here is helpful insight from a very successful professional Brain Peart…
The High Cost of Fear!
Based on the news, I can’t believe there is anyone still alive to read this…you would think every Realtor and mortgage person is already dead on arrival. But I have news for you…the only thing we have to fear is fear itself-apologies to FDR!
Let me ask you three questions….First, which is riskier…Nuclear power or sunlight? Second, which animal is responsible for more deaths in the US…alligator, bear, deer, shark or snake? Third, which causes the greatest number of fatalities worldwide on average….war, suicide or homicide?
Chernobyl was the worst nuclear accident in history. By 2006, 20 years after the incident, there were less than 100 people who have died from that incident. 8000 Americans are killed EACH year due to skin cancer, mostly caused by overexposure to the sun.
Each year, deer cause 130 human fatalities, 7 times MORE than alligators, bears, snakes and sharks COMBINED! Deer don’t pack heat, they just step in front of cars….
In most years, war causes less fatalities than homicides…and suicides cause twice as many deaths as homicides. All of this is to remind us that much of the world’s misfortunes are not caused by what we are afraid of but by BEING AFRAID. At Chernobyl, panicky business owners fled, unemployment and poverty soared. Anxiety, depression, alcoholism and suicide were rampant. There was such fear among mothers about their unborn babies’ health that there were 100,000 unnecessary abortions.
So what is the point of all this? Unless you are close to retirement, go ahead and play golf, work hard, enjoy your family, continue to invest and save….you WILL live to see brighter days. And oh yes, turn off the news…it’s poison.
Perry Fernandez
P.s. There has never been a better time to buy real estate! We are here to help take your business to the next level. Our help is free and our success stories continue to grow. Call me today and I can explain to you all the many ways I can grow your business from our commercial loan products. WE ARE HERE TO HELP! Call me today at (888) 890-2416 to set a time to get together and brainstorm ways to help your business. Be Blessed.
*****************************************************************************************************
Receive all the latest tips, programs and insight on our Social Media Network:
Here is a great article I found regarding how commercial mortgage brokers and lenders are partnering to successfully close transactions…
In today’s economic environment its difficult for commercial mortgage lenders to find a good commercial mortgage broker. Given the economic recession and the reduced commercial mortgage activity in the real estate capital markets, commercial mortgage brokers are under pressure to generate commission income and may not be advising their client as objectively as in the go-go days. Furthermore, it is typically taking 3 to 4 times as long to close a transaction as compared to before the recession began. These characteristics of today’s commercial loan market make it important for a borrower to do their homework prior to engaging a broker.
Commercial lenders rely on skilled brokers to carefully analyzes the transaction and surveys the capital markets for a mortgage or financing that best meets the client’s needs, and processes and closes the deal. Both commercial mortgage lenders as well as business owners can have a mortgage broker identify which lenders are active in the market, and desired loan product, and negotiate on the lenders and borrowers behalf.
It’s important to the capital providers for all their finance brokers they work with to maintain the highest standards of integrity and ethics in their business practices and maintain a steady analytical approach and keen market observation. Experience and relationships in the lending market are important aspects of a solid partnership between commercial loan brokers and lenders. A competent loan broker is well skilled to handle the needs of the real estate borrowers and commercial lenders, and begins by carefully analyzing the client’s needs and the characteristics of each transaction. They underwrites and package a financing request for the lender and confer with the borrower regarding its content and financing request. Strong commercial brokers are often able to structure a creative solution derived from their extensive knowledge of the capital markets. Oftentimes a commercial loan lender is used to structuring a loan in a certain way. A proficient finance broker is able to help both parties arrive at a structure which works best for both the borrower and commercial mortgage lender.
Capital providers offer cutting edge terms to skilled brokers with a prove track record of success and assign senior level professionals, oftentimes the decision-maker, to work with the broker because of their large business flow and technical expertise. Some brokers can work quickly and place a transaction within hours if necessary, and can close institutionally priced loans in little as eight business days and ‘hard money’ loans in two days.
Read more about Commercial Mortgage Lenders and their working relationship with commercial mortgage brokers
Article Source: http://EzineArticles.com/?expert=Michael_J._Schwartz
