Sorry I haven’t graced your inbox with my pithy comments for the past few weeks. I’ve moved back to California just in time for rainy weather! (The joke is on me). Moving is a full time endeavor, let me tell you. On the other hand, I did have time for reflection while driving the car from KS to CA. I discovered that country music is actually the best thing to listen to while watching the country pass by. It has simple themes that reflect life in America that I found refreshing while watching the road signs, mountains, canyons, trucks, cars, deserts, trees, deer, cows, horses, trains, rivers, etc. roll by. I don’t think I’ll become a full-time fan, but it was good to listen to on the road.
“Thanks to the Interstate Highway System, it is now possible to travel from coast to coast without seeing anything.”
– Charles Kuralt
Our bridge loans continue to grow, I think we have 12 in process now. I’m even seeing more activity in USDA loans, although construction loans are still almost impossible to come by. ICSC says that the regional malls are beginning to see some leasing activity, although the national guys are still flat. We’ll see. Things could be looking up! Oh, hopefully we’ll be making the transition to our own private loans in the next 90 days.
Prepare Well for Success. I see it time and again: Poorly documented loan requests. In today’s credit-challenged market you’ve got to be very diligent about documenting historical income, capital expenses, hiccups in leases, credit, and personal income. The non-traditional lenders are slammed and are looking for good transactions to fund. Don’t make underwriters wait for explanations, standard documents, or anything else that is material to understanding your transaction. Take an extra hour or two really go through your request before sending it off. I guarantee that it will pay off for you.
“Certainly, travel is more than the seeing of sights; it is a change that goes on, deep and permanent, in the ideas of living.”
– Miriam Beard
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Commercial Tips 4-15-10
Sorry I haven’t graced your inbox with my pithy comments for the past few weeks. I’ve moved back to California just in time for rainy weather! (The joke is on me). Moving is a full time endeavor, let me tell you. On the other hand, I did have time for reflection while driving the car from KS to CA. I discovered that country music is actually the best thing to listen to while watching the country pass by. It has simple themes that reflect life in America that I found refreshing while watching the road signs, mountains, canyons, trucks, cars, deserts, trees, deer, cows, horses, trains, rivers, etc. roll by. I don’t think I’ll become a full-time fan, but it was good to listen to on the road.
“Thanks to the Interstate Highway System, it is now possible to travel from coast to coast without seeing anything.”
– Charles Kuralt
Our bridge loans continue to grow, I think we have 12 in process now. I’m even seeing more activity in USDA loans, although construction loans are still almost impossible to come by. ICSC says that the regional malls are beginning to see some leasing activity, although the national guys are still flat. We’ll see. Things could be looking up! Oh, hopefully we’ll be making the transition to our own private loans in the next 90 days.
Commercial Financing Tip
Prepare Well for Success. I see it time and again: Poorly documented loan requests. In today’s credit-challenged market you’ve got to be very diligent about documenting historical income, capital expenses, hiccups in leases, credit, and personal income. The non-traditional lenders are slammed and are looking for good transactions to fund. Don’t make underwriters wait for explanations, standard documents, or anything else that is material to understanding your transaction. Take an extra hour or two really go through your request before sending it off. I guarantee that it will pay off for you.
“Certainly, travel is more than the seeing of sights; it is a change that goes on, deep and permanent, in the ideas of living.”
– Miriam Beard
-Construction Loans, Bridge Loans, Capital Expenses, Charles Kuralt, Commercial Financing, Extra Hour, Hiccups, Interstate Highway System, Leasing Activity, Loan Requests, Personal Income, Pithy Comments, Private Loans, Rainy Weather, Regional Malls, Road Signs, Time Endeavor, Time Fan, Traditional Lenders, Usda Loans
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