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jsrvmorgan
Dud?


Joined: 26 Nov 2007
Posts: 10
Location: california

Commercial Lending
PostPosted: Mon Nov 26, 2007 9:19 pm Reply with quoteBack to top

After working for several companies that have found themselves closed down, I went on a mission to work in the commercial realm. Has anyone else tried to do this? What has been your experience? Any luck?

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Sonya Morgan
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Bulldog
Cherry Bomb


Joined: 05 Oct 2007
Posts: 188
Location: U.S.

Re: Commercial Lending
PostPosted: Fri Nov 30, 2007 2:59 pm Reply with quoteBack to top

I assume, from your other posts, you're talking about as an AE. I could talk about it from a broker's perspective if you like.

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jsrvmorgan
Dud?


Joined: 26 Nov 2007
Posts: 10
Location: california

Absolutely
PostPosted: Fri Nov 30, 2007 5:34 pm Reply with quoteBack to top

I have been an AE in the past. I am working as a Broker now, so absolutely that is what I am talking about.

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inf9antz
Dud?


Joined: 13 Dec 2007
Posts: 17
Location: Long Island,NY

Re: Commercial Lending
PostPosted: Fri Dec 14, 2007 12:30 am Reply with quoteBack to top

Oh I love Commercials especially soap and deoderant commercials!!! ever get one of those scratch and sniff commercials? they are just to die for. and my alltime favorite kind of commercials are super bowl commercials!!!


Oh,..... a'hem i see you were refering to commercial Real Estate sorry cant help you there...toodles
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icenvegas
Schumpeter Reincarnate


Joined: 22 Nov 2007
Posts: 3896
Location: Las Vegas

Re: Commercial Lending
PostPosted: Fri Dec 14, 2007 4:21 pm Reply with quoteBack to top

I wrote a manual on how to do commercial loans from start to finish... its for the broker end, everything from marketing to figuring DSCR, to NOI, blah blah blah... woo hooo me... only took me 2 years of racking my brain.
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inf9antz
Dud?


Joined: 13 Dec 2007
Posts: 17
Location: Long Island,NY

Re: Commercial Lending
PostPosted: Fri Dec 14, 2007 4:32 pm Reply with quoteBack to top

I'd be interested in the Marketing Mechanics of the commercial process.

I'm heavy into marketing on the residential side. My main influence is Dan Kennedy- and also i follow Good copywriters and what they do. However I dont even know what hot buttons for direct mail to push for a commercial prospect. I would like some insight...
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icenvegas
Schumpeter Reincarnate


Joined: 22 Nov 2007
Posts: 3896
Location: Las Vegas

Re: Commercial Lending
PostPosted: Fri Dec 14, 2007 4:38 pm Reply with quoteBack to top

here's a piece of advice. Its free, so you get what you pay for.

Before you EVER, and I mean EVER talk to a potential client for commercial financing, you BETTER know you s**t. because this aint residential, and youre dealing with a different type of borrower, a different type of money, and a different world together.

If you know the HOW's and WHY's of commercial financing, then, you can learn to get the business.. but a commercial client will tear you up if you dont know your stuff.

Its intimidating for a lot of residential LO's to go for the big money, because these people are Savy. If you want something small, I believe Silverhill Financial has some marketing stuff you can "borrow".
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inf9antz
Dud?


Joined: 13 Dec 2007
Posts: 17
Location: Long Island,NY

Re: Commercial Lending
PostPosted: Fri Dec 14, 2007 5:04 pm Reply with quoteBack to top

I am well aware of the difference in borrower mentality. I used silverhill their marketing sucks... thats putting up a pretty postcard. i'm looking for hardcore marketing sales letters and reports to attract clients- to emotionally charge them -what are their hot buttons? i am doing commercial stuff range in the 500-1.2 million nickel and dime stuff . most of my clients are residential type clients that own 5-12 families or mixed use. i'm in the process of doing SBA loan for a preschool headstart outfit. i am happy with these clients on the whole other than many of them have no idea about commercial int rates and fees involved like appraisals etc. And i'm basically marketing to refi's right now in arms that are coming do in 12 mos or less. i have never done a multi tenant office building like in NYC. If i had 3k month i do that thing with Mercantile Capital where they do all the marketing for you and you split the fee.
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icenvegas
Schumpeter Reincarnate


Joined: 22 Nov 2007
Posts: 3896
Location: Las Vegas

Re: Commercial Lending
PostPosted: Fri Dec 14, 2007 5:10 pm Reply with quoteBack to top

mercantile like many others such as fischer financial are merley super brokers, see, in commercial, you can co broker loans legally, RESPA really doesnt apply to commercial.

This could go one forever. .. Do this.. go to your local banks, tell them, you do commercial lending, and whatever they turn down, to give you a call, and should the deal close, you'll give them 25bps. Its not a bad way to get your foot in the door, and get your name out there.
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miweiser
Wrecking crew


Joined: 09 Nov 2007
Posts: 1517
Location: Central FL

Re: Commercial Lending
PostPosted: Fri Dec 14, 2007 5:12 pm Reply with quoteBack to top

inf9antz wrote:
I am well aware of the difference in borrower mentality. I used silverhill their marketing sucks... thats putting up a pretty postcard. i'm looking for hardcore marketing sales letters and reports to attract clients- to emotionally charge them -what are their hot buttons? i am doing commercial stuff range in the 500-1.2 million nickel and dime stuff . most of my clients are residential type clients that own 5-12 families or mixed use. i'm in the process of doing SBA loan for a preschool headstart outfit. i am happy with these clients on the whole other than many of them have no idea about commercial int rates and fees involved like appraisals etc. And i'm basically marketing to refi's right now in arms that are coming do in 12 mos or less. i have never done a multi tenant office building like in NYC. If i had 3k month i do that thing with Mercantile Capital where they do all the marketing for you and you split the fee.


Is that what they do? I've been getting calls from them lately...I agree with you on Silver Hill, but how do we cultivate these clients?

Most states do not require commercial licensing so that is easy, but the clients must go to their usual banks and just deal with short terms?

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