All Forum Posts by: Chris Cambridge

@Deep Patel It seems like you are seeking bank money that requires you to meet standards. You need a lender that will meet your needs but they won’t compete with 3%.

I don't know what they're saying to You but I do know what some of my guys are saying to Me!

We all have deals held up by some lenders others are seeking opportunities to place capital and assist borrowers. I’m optimistic!

Commercial Real Estate & Business Loans

“$5,274,000 Purchase Loan on a Special Purpose Medical Building in Houston Texas”

“While we are still selectively seeking hospitality acquisition and refinancing loan requests, we have placed a temporary moratorium on construction loans.”

“We are open for business, and fully operational. We remain committed to you as your financing partner, including all of the business practices that earned your trust in the first place.”

“Our office remains open and operational. To ensure the health and safety of our team, most of our employees are now working remotely. We are actively closing and funding loans and we plan to be an active lender throughout this crisis.”

“Need capital to grow your business? We can fund in less than a week!”

“That's right, we just funded another restaurant loan yesterday (3/23/2020).”

“I wanted to let you know that we are still actively quoting and closing transactions and have plenty of capital to deploy.”

Good deals don't get shut down as it's said.

Having someone Ready Willing And Able is better than being optimistic about a handout.

There are better possibilities to be optimistic about.

I realize you don't know what you don't know.

So here you go now you know.

Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law, making $349 billion available to small businesses! So what does this mean for you?

It is important to note that this portion of the CARES Act isnot the same as the SBA economic injury disaster loan (EIDL) loan program that is already available on the SBA website (the SBA provides this directly, not us or any lender)

Which is Better?

Although you must decide which relief program is best for you, we believe that the CARES Act SBA 7(a) Relief Loan is the better option for the following reasons:

The SBA EIDL program already has a bottleneck of over 25,000 applications.

CARES Act SBA 7(a) Relief Loans are available up to $10,000,000 vs. only $2,000,000 for the EIDL program.

With the expertise and experience of seasoned SBA lenders and loan providers involved and helping to shape policy, we anticipate that the CARES Act SBA 7(a) Relief Loan program will be more streamlined than the EIDL program, and funding will be available faster.

So if you don’t know now you know!

@Mark Gutierrez there are lenders putting capital on the streets. Deals can be done. The game is the same but the rules have changed.

@Luis Melendez Interest rates have fallen but may not be for that type of transaction. I even would have to check in with my lenders to see where they are with rates.

On a side note. CR as a whole has taken a beating for almost a decade. How are New Britain and Hartford markets today?

@Gerry Magrini at first glance the thought would be why not take the risk yourself but then you may not have the desire to work that process. So if you can get market and above rents and the guy is not a flake go in the lab and iron out a lease you and your attorney are okay with. It may be good exposure and less headache.

@Adam Fiore Your fear of leveraging is absolutely not justified. You seem to be going backwards on this one. Everything you seem to have done before has put you in a position to make a secure investment and you’re overthinking it. Why isn’t anyone telling you this?

At 22% cap rate your left brain could collapse and you still wouldn’t lose money.

So what’s the real problem the tenants, the upgrades, the area?

It seems to me like the loan has a personal guaranty. So why would they remove it! Just because property qualifies doesn’t make PG a non issue. 

Based on what I’ve seen they don’t last the distance. I honestly believe it’s a matter of value perceived by investors. I believe the relationship gets tired fast and no one is divulging the true issue. Let’s be real who wants to pay a commission every time they buy a property? There is no set commission but how much would you be willing to pay? Soon enough the investor will start thinking of what he could have done himself. Hence perceived value gets eroded. Think! Also many buyers in commercial syndicate. Paying a broker is eating into their acquisition fee. We can go through tons of scenarios and it will just boil down to buyers will simply eventually not want to pay. 

Ask them to pay a 5% commission because the $4MM property is 50% due to partnership dispute all parties just want out and 10% needed for repairs. Hmmm!

@Sheila Campbell so it’s like a land contract?