See? All you need is some patience and even the New Orleans Saints can win a Superbowl! It only took 43 years, but it was well worth it in my estimation. Congratulations to Drew Brees for the MVP award and the rest of the Saints for putting on a great show in beating the Indianapolis Colts. And here’s a tip for next year’s Superbowl: Pick the team that is hyped the least. If I had to hear ONE MORE TIME about how great and all-powerful Peyton Manning was I was going to rip the TV off of the wall! No disrespect to Peyton intended, it’s just that the sports casters really need to find other things to talk about.
It’s finally sunny here in the Mid-west. We’ve had about a week of gray coupled with continual snow fall and frozen roads. It isn’t any warmer, but at least I can SEE what I’m driving on! Boy, do I miss that California weather right now.
“To invent, you need a good imagination and a pile of junk.”
– Thomas A. Edison
Special Announcement: The Floor Rates on our core investor and owner-user loans have dropped on both our adjustable and interim fixed rate loans. Given where index rates are in general, this means our rates have in fact … dropped! You need to get to our web site for details, so go there after reading the rest of this pithy publication and get excited.
Second Special Announcement: I will be releasing our first Focus Course this week once we get some back-end support items finished. It is called: “How to Select, Interview, and Manage Commercial Lenders for Mortgage Brokers” and is designed to help you avoid phony lenders and rip-off artists while creating a very profitable stable of commercial lenders in your brokerage activities. Look for a special announcement on Thursday or Friday.
“We are more ready to try the untried when what we do is inconsequential. Hence the fact that many inventions had their birth as toys.”
– Eric Hoffer
Commercial Lending Tip
Cash Flowing Properties Have The Best Chance: In working with several correspondents a number of transactions recently, one thing is becoming crystal clear. For a loan request to have any chance of success, the transaction must involve a cash-flowing property in today’s market. Construction is almost dead, land is on hold, and turn-arounds need very strong sponsors with deep pockets to even get looked at. Focus your attention on properties that have tenants and have some money left over at the end of the month right now.
“The best way to predict the future is to invent it.”
– Alan Kay
