C-Loans, Inc.

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What's the deal with blanket commercial loans? A blanket loan is where there is one promissory note secured by several deeds of trust on several properties. For example, my hard money shop, Blackburne & Sons (http://www.blackburneandsons.com), frequently makes commercial loans secured by a bunch of little rental houses. Now the thing to appreciate about blanket commercial loans loans is that most commercial lenders HATE them. You are never going to get some bank to give yo...u a great deal because you are letting the bank put a lien on your office building, your self-storage facility, and your industrial plant. It's never going to happen. Life companies hate blanket commercial loans. Conduits hate blanket commercial loans. Credit unions hate blanket commercial loans. Why? Because blanket loans create messy legal problems in foreclosure.

What is an asset-backed security? An asset-backed security (ABS) is a financial security collateralized by a pool of assets such as loans, leases, credit card debt, royalties or receivables - all kinds of different stuff. The basic concept behind the asset-backed security is that your investment is backed by lots of different types of collateral. Commercial real estate might crater, but aircraft leases might keep purring along. An investor does not have all of his eggs in ...just one basket. Securitization is the process of taking a bunch of loans, sticking them into a giant pool, and then issuing little pieces of paper (securities) that say that the holder gets, say, 1/100,000th of any cash flow coming back to the pool. The underlying assets of these pools may be home equity loans, automobile loans, credit card receivables, student loans, scratch-and-dent residential loans (deals that got kicked out of another securitization), subprime commercial loans, or other expected cash flows. Issuers of ABS can be as creative as they desire. For example, asset-backed securities have been created based on cash flows from movie revenues, royalty payments, aircraft leases and solar photovoltaics. Just about any cash-producing situation can be securitized into an ABS.

What is a family office? A family office is a private company that manages the investments and trusts of a single wealthy family. The company's financial capital is the family's own wealth, often accumulated over many family generations. Traditional family offices provide personal services such as managing household staff and making travel arrangements. Other services typically handled by the traditional family office include property management, day-to-day accounting and ...payroll activities, and management of legal affairs. Can you imagine being so rich that you have a whole company devoted to managing your chauffeur, your cook, your maids, your investment portfolio, and your travel arrangements? Geesch. Family offices often provide family management services, which includes family governance, financial and investment education, philanthropy coordination, and succession planning. A family office can cost over $1 million per year to operate, so the family's net worth usually exceeds $100 million. Because of the cost, multi-family offices have arisen which might service, say, a half-dozen different wealthy families. Remember, if you need a commercial loan, you can enter it into C-Loans.com in less than four minutes. Hungry commercial real estate lenders will contact you within minutes.

What on EARTH is a co-living property? For example, GlobeSt.com has announced that a Southern California development company recently secured $14.1 million construction loan to build an 86-unit co-living property in a Hollywood opportunity zone area. Co-living is a form of housing that housing involves renting private bedrooms in dorm-like buildings where living rooms, kitchens, and even bathrooms are shared. Utilities and WiFi are included, as are a number of amenities, such as house cleaning services and catered parties. These units are often furnished and don’t require long leases, while repairs and billing are handled through an app. Co-living companies, for now, are mostly opening spaces in cities with a significant number of tech workers, and they frequently mention the words community and technology in their ad copy.

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The issue of tuck-under parking comes up in connection when you try to finance apartment buildings. Tuck-under parking is when you have carports underneath the building. The concern is that the building could collapse in an earthquake. Below is a picture of tuck-under parking. Although the Agencies - Fannie Mae, Freddie Mac, and Ginnie Mae - won't finance apartment properties with tuck-under parking, CMBS lenders will gladly make these loans. You can find dozens CMBS lenders, also known as conduits, by using C-Loans.com

The other day I received what looked like a sweet $4 million apartment loan request; however, when I looked at the borrower's net worth, it was less than $250,000! Hellooo? The Net-Worth-to-Loan-Size Ratio must exceed 1.0. In other words, the borrower's net worth must at least be as large as the loan he is requesting.

There is a huge fund, created by Congress, to help large businesses get millions of dollars in COVID relief; but no one is using it! Know a large company that needs $10 million to $300 million to weather the coronavirus crisis? Write to me, George Blackburne III, at [email protected], and very importantly, use as the Subject line, "Mid Market COVID Relief Fund."