The best type of brokerage service

I once heard it said that any type of brokerage business is a result of an inefficiency in a marketplace.  Customers will use brokers to get a job done that they either do not want to do themselves or don’t know how to do.  As a mortgage broker, we earn our value by Continue reading “The best type of brokerage service”

Land still tough to finance

Land banking, land development, land servicing all continue to be tough deals to get financing for. Banks and lenders are happy to lend you the money if you have enough pre-sales (of completed lots) to cover up to 100% of their loan. Private lenders have too much land sitting in their portfolio and don’t have an appetite for anymore. Continue reading “Land still tough to finance”

Need less than $2M – don’t go to a bank (or a broker)

After 1,138 calls this year I can confirm that if you need less than $2,000,000 for a commercial mortgage or a business loan don’t call a bank and don’t
bother calling a broker – unless you know what you are looking for. The broker you talk to might only know a few lenders with limited options and the banker you talk to may not know how to handle your request properly if you can’t be specific about your need.  There is a very limited market of people that can help borrowers looking for less than $2,000,000. Continue reading “Need less than $2M – don’t go to a bank (or a broker)”