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Commercial Loan Blog

How to Get Better Customer Service with Your Commercial Loan Broker

November 25, 2014

A major key to getting better customer service with your commercial loan broker or with other businesses is simply – “Ask for it.”

Many people miss major opportunities in life because they don’t ask for what they want. Instead, they expect differing things from others and don’t communicate it. It’s like they think the other person should know what they want.

Nothing could be further from the truth. Unless you are a certified mind reader, and there is no such job occupation the last time I checked, it is unlikely that people are going to be reading... more

What Are Some Qualities of an Inferior Commercial Loan Broker? (Part 3)

November 17, 2014

This is part 3 in a series of articles on qualities of an inferior commercial loan broker. As stated on part 2 of this series, it can be very useful to know what to look for in an inferior commercial loan broker. It can help you in your quest for getting great loans for your commercial real-estate.

Today I will share some subtle qualities of an inferior commercial loan broker that you might not normally think about. But, they could at least be clues that the lender may not be a very good loan source for the apartment loan, office building loan, mobile... more

How to Get Better Results in Working with Your Commercial Loan Broker

November 11, 2014

A very important question is how to get better results from your commercial loan broker.

There are times when we may feel powerless in working with the brokers who are serving us concerning our commercial real-estate loans. This is if we are not getting the quality of service, speed of service, friendliness, etc. that we need.

For example, you have been waiting for nearly a week for a commercial loan broker to return your call concerning an apartment loan he is helping you with. Or you notice that the analysis of a property you are interested in was... more

What Are Some Qualities of an Inferior Commercial Loan Broker? (Part 2)

October 28, 2014

When working with a commercial loan broker, it is important to know what to look for in not only a very good commercial loan broker, but also an inferior commercial loan broker. Recently I posted on the subject, “What Are Some Qualities of an Inferior Commercial Loan Broker?” This week I’m posting part 2.

As a summary of part 1, be very suspicious of a commercial loan broker who asks for upfront fees. The exception would be an enormous commercial real estate project, but be sure to do very thorough due diligence on the commercial loan broker anyway.

... more

What Are the Qualities of a Superior Apartment Commercial Loan Broker? (Part 2)

October 23, 2014

Welcome to “What Are the Qualities of a Superior Apartment Commercial Loan Broker (Part 2)” Actually last week our blog title was about apartment loan brokers. I decided to include all commercial brokers. The qualities of a good commercial loan broker are almost synonymous to those of a good apartment loan broker.

In last week’s blog, three points were covered:

1. Make sure that you pick a commercial loan broker who is so well experienced, and of such strong integrity that if he has carefully examined your loan, picked a lender, and says he can close... more

What Are Some Qualities of an Inferior Commercial Loan Broker?

October 22, 2014

Recently I have written about the qualities of superior commercial loan brokers. This article is the opposite – it looks at some qualities of inferior commercial loan brokers.

Here are some qualities of an inferior commercial loan broker:

  • The commercial loan broker asks for an upfront fee and your loan is not a very complex loan. If you have a simple commercial loan and you are being asked for an upfront fee, it is very possible that the commercial loan broker is dishonest. On the other hand if you have a commercial project such as a 100 story... more

    • What Are the Qualities of a Superior Apartment Loan Broker?

    October 14, 2014

    In looking at the qualities of a superior apartment loan broker, the following three come to mind:

    1. When they give you a letter of interest and you pay your deposit, you have a good degree of comfort that they will be able to complete your loan. No apartment loan broker can guarantee that the loan will close, but a very good multifamily loan broker will have a very high closing percentage of loans.

    This quality is number one. Why? Because an inexperienced multifamily loan broker or one that is not so caring about the customer, may end up not being... more

    How to Submit Your Loan Information for an Apartment Loan, Part 3

    September 30, 2014

    This is part 3 of a series in How to Submit Your Loan Information for an Apartment Loan.

    We began the series by explaining that when you send your apartment loan information to a lender, you need to send it in the form of a good presentation. The information needs to be presented in such a way that you sell the lender on giving you a loan. Specifically you want the lender to see that the strengths of your property and the strengths of your finances are sufficient for a loan.

    In part 1, we discussed the area of submitting good interior and exterior... more

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