Attn Brokers: We have new alliances in bridge and hard money lending...

Hey Folks,

I have made new alliances in hard money....  Here is what is HOT – AND FUNDING:

-LTV’s less than 60% - 

-Loan Amounts under $1.5M USD – the bigger deals take a bit longer to close – bring them on if they are low LTV.

-Make sense deals on bank negotiated buy outs.. still looking for low LTVs

-Profile of borrowers are: free and clear properties with good credit (those are closing- and more deals out there than you know)

-Multifamily, Office, Retail, Mixed Use, Warehouse, Office Condos, Light Industrial, Rural Commercial, Commercial Rehabs if they make sense, Trophy homes if owned by a corporation.

What is NOT:

-LTV’s more than 60% - and 60 is pushing it…

-Anything related to project finance – no projects, existing commercial collateral only

-Energy deals – I haven’t seen one of these fund unless they have a take-or-pay contract from a bbb rated company or better

-SBLCs, BGs, Gov’t Bonds, Platforms, ANYTHING that wants your clients money so they can generate money. Please, have you personally seen one of these fund?

-Special Purpose properties

-Land

-Any transaction where there is less than 25% equity or 25% cash infusion. Sorry – this is the market speaking, not me.

  

I have verified either through personal experience or their providing addresses of closed deals, deals closed in their name, that the funders we have are performing. We never charge any upfront fees, but your client should be prepared to pay for an appraisal and/or a site visit.

To request a submission package please email brian@walkercf.com

Danger! Do Not "Shop Your Deals"- It only hurts you...the developer and the broker

Time are tough. Enough said. One of the worst things you can do is "shop your deal". What I mean by this is sending your transaction (currency exchange, project development) to a) multiple funders; or b) multiple brokers. The most dangerous is sending it to multiple brokers. Or worse yet, a broker(s) accepted your project but doesn't have a funding source.

First, this is unethical on the broker's behalf, secondly the obvious will happen: He will send your project to every funding source and broker on the planet in hopes that someone will fund your deal. The best way to prevent this is to qualify your broker by asking if he already has a funding source that would accept your project. If he doesn't, don't give him your file. If he does, he should be able to explain the relative terms of the financing immediately or within 24 hours after contacting is funding source.

Why shopping hurts you: it's a small world in the universe of performing funders and brokers. We all know each other. There are some files that I see submitted to our company by 5 or 6 different brokers...funders simply turn down files they see more than once because they assume there's something wrong with the file,they turned it down previously, or they'll pick up the phone and call their other colleagues and ask them why they turned it down.

Why? Probably because the original broker was a rookie and just sent in a bunch of files that made no sense. WCF has our own in-house underwriter and we MAKE FILES WORK. Yes, files that have been turned down. They were good files, just not submitted properly. So we have go back to the funder after hearing, "we saw this file and turned it down" and explain why the deal will work.

Currency exchange deals won't tolerate ANY shopping. If they see the same deal twice, it is immediately declined and the client is blacklisted.

Solution: qualify your broker and make sure he is direct to a performing source or a broker that is. Often, that is WCF.
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