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5 Ways to Avoid Transaction Process Pitfalls

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Residential professionals often tell us they would broker commercial loans if they didn’t believe the process to be complex and time-consuming. They know there’s an opportunity for growth with small-balance commercial lending, but they don’t think they have the time or patience needed to actually close deals.

Truth is, brokering small-balance commercial deals can be a fun and rewarding way to diversify your business. If brokers know what to expect and communicate often with their lender, they can avoid many of the delays and frustrations that give the process its current reputation.

Help Your Clients Get the Right Take Out Solution After a Bridge Loan

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One of the most interesting aspects of commercial real estate lending is the fact that every client has a different story and unique needs. Whereas residential brokers operate in a world of “comparables,” commercial brokers often close deals that can’t be compared to anything they’ve done in the past.

Reduced Documentation Programs: A Solution for Borrowers with Tax Return Challenges

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Traditional lenders in today’s market often require borrowers to provide their last two years’ tax returns to be approved for funding or refinancing. However, many times the tax returns may not reveal the current monetary success of a property. And of course if the tax returns don’t prove income to lenders, the borrowers will be denied.

How to Rock Your Business with Social Media – Part 3

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In the final segment of our social media advice for brokers, you’ll learn the importance of utilizing additional tools to bolster your social efforts and how to convert social leads to real-life business.

Making Sense of Reduced Documentation Programs: Cash-Out Refinancing

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If you remember our blog post about reduced documentation programs, then you may recall our borrower Danielle. To jog your memory, Danielle purchased an underperforming, 12-unit multifamily property. She spent 6 months completely renovating the building and was able to fill it with tenants again.

How to Rock Your Business with Social Media – Part 2

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We all know first impressions are important in the business world. It’s why we dress up for job interviews and rehearse our presentations before meeting with a new group of potential clients.

The problem is that these days most first impressions occur long before you meet face-to-face. Referral sources and prospective clients in today’s market search your online presence to see if they should make the effort to meet with you. If your profiles are incomplete, uninteresting, or out-of-date, you could lose their business.

How to Rock Your Business with Social Media – Part 1

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Do you ever get those solicitation emails from social media gurus? The ones that invite you to pay big bucks for a course that will teach you how to market your business on every social channel? The problem is that most of these gurus can’t tell a rent roll from a dinner roll. They think seasoning is what you put on steak and a balloon is what you get on your birthday. In other words, they aren’t familiar with the mortgage industry. The thing is, social media platforms like LinkedIn, Facebook, and Twitter provide a real opportunity for brokers to expand their network and grow their business. But you won’t get the most out these channels by adopting generic networking strategies.

Be a Solution Provider

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Stop me if you’ve heard this one before. Your borrower owns a mixed-use building and has a 30-year mortgage with a well-known bank. They consistently made their payments for the past five years, but now they’ve reached the end of the balloon term and it’s time to refinance. This has never been an issue in the past, but now the bank’s lending guidelines have changed and your borrower’s property falls outside their shrinking footprint.

3 Steps to Quickly Match Your Commercial Borrower to the Right Lender

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As you grow your commercial trade, you will want to add several lender types to your “stable” to be able to serve a broad range of scenarios. You will become an expert in their programs and you will be able to match borrowers to the right lenders and programs with amazing speed. Here are three steps to help you quickly find the ideal lender and program every time.

Qualifying Questions for Small-Commercial Properties

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When it comes to small-balance commercial loan opportunities, gathering the right information from borrowers up front helps to qualify the property and loan more quickly. Brokers who use a consistent approach to qualifying small-commercial loan opportunities are often more organized, have a better understanding of project objectives, and as a result are best prepared for placing the transaction with a lender.

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