Posts Tagged ‘commercial real estate
05
Nov
11
Donald and the economy
05
Jul
11
New Rules for Money
14
Apr
11
Banks Can’t Touch This!
Local Banks Can’t Touch Our Speed?
SPEED is the name of the game. Sometimes you have clients who just need to close fast. We can get the deals done QUICK, just check out these two closings…
Investor Refinance of a $1.2 million loan on a retail shopping center. The client came to us after being denied by a local bank. The note was due and the lender was willing to extend it on an adjustable loan but this borrower wanted a low fixed rate. We closed her in 34 calendar days from app to closing BUT, she took 4 days to sign the commitment letter. We could have closed this in 30 days! We did this with our IN-HOUSE LENDING PROGRAM. That was with a new appraisal, inspections, everything. Her Rate? 5.9 fixed for 5 years.
The borrower said at the closing, “Thank you SOOO much. Orlando said I would be in good hands”. If the borrower won’t hesitate, we can close conventional loans with great rates in 30 days consistently on our in-house program.
Discounted Note Deal closed in 8 days! Sometimes people don’t have 30 days. This guy was going to lose the property if he did not close by Wednesday. The lender was calling the note and offered a deep discount if he would pay it off by a certain date-otherwise, they would execute the foreclosure. He signed our agreement on Monday, March 28. We ordered a quick review appraisal on the spot and had the file closed the following Wednesday-in just 8 business days through our private money fund. This fund will look at any type of property as long as the deal makes sense. It must be RE based, and we won’t go above 65% LTV but we can close lightning quick. This borrower got $500,000 off on his note by closing on time and saved his property to boot!
The broker who sent the deal said, “Ernie called & is thrilled at how well everything went with the closing. He couldn’t thank me enough for getting this done in such a short time period. He now believes that I have the ability to get loans closed & will be sending referrals over my way.” Closings beget more closings!
If you have a loan that needs to close quickly, or you know of someone who needs to close quickly, give me a call. Our in-house lending and our private money fund are closing loans and fast. Call me today (888) 890-2416 or email at info@thefernandezgroup.com.
Perry Fernandez
P.S. We are closing commercial loans of all types, from the new High LTV 504 Refinances that can allow commercial refinances to 90% LTV all the way to private money transactions for people with “issues”, we can get them done! Call me today at (888) 890-2416 for help for you or someone you know-we have money to lend!
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
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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.
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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
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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
For 2010, I have promised myself to get into the best shape of my life physically, spiritually and financially. Every morning I make it a point to get a little excercise before I start my day, at least 1 hr. It’s a habit of mine, a lifestyle that has made an impact in my daily productivity levels. Fortunately, the local gym is about 2 miles from where I live.
Not yet quiet ready for the 2 mile jog to the gym, I get into my car and drive through the 1 stop light and 3 stop signs before I reach the gym. I never imagined that living in a smaller town of 47k could be so eye-opening. I actually take my time driving. Coming from a bigger city of 1 million+, there is constant traffic, honking horns, cars screeching donuts in in the middle of the night, along with other distracting events. Although I’m just 25 minutes away, I can’t say that I miss it.
After my workout I usually drive around town, discovering more and more about the real estate and businesses. As I drive around this town I see so much opportunity. With the town just south of Silicon Valley within county limits,I believe this area is poised for more growth and development in the near future.
Collectively, the surrounding areas including South San Jose, Morgan Hill, Gilroy, Hollister, Watsonville, Salinas, Santa Cruz, and Monterey, is where I will be focusing my efforts in bringing real estate project financing and business funding resources to the local investors and business owners.
Teaming up with one of the largest commercial lending companies in the country, we will provide hundreds of funding sources to compliment the local banking institutions.
Our vision is to be a partner within these areas supporting local communities and their growth objectives.
