Strategies For Financing Commercial Real Estate Deals

Typically, you will need to secure a loan for financing commercial real estate deals due to the size of the deal and type of property. While this probably makes sense, what you may not consider is where to look for this financing. Most if not all investors would probably consider going to large banks because of their overall size and assets. But read on to see why this might not be your best option and where you should probably be looking instead.

Obtaining Bank Loans:

It is preferable to deal with small, rather than large, banks. Big banks have more money, but not necessarily for you. Also, it’s easier to get lost in a big bank, because those employees may get promoted to a different location or a different department suddenly, your contact may no longer be there when you need them most, like in the middle of a deal.

A small bank that has their charter as a community bank is a better bet. A community bank is formed under what is called the Community Banking Act (CBA). It usually furnishes a certificate of need, just like a hospital would do to get into the community. Their certificate indicates the particular niche of the market on which they are focused. Also, one of the great benefits of a small bank is the loan approval process. They usually don’t have to wait for a committee to meet to discuss your loan. They see each other every day and make decisions quickly, since there are only two or three persons on the loan committee.

And how about this for a twist you may not have considered before. When you find a local bank with whom you enjoy a thriving relationship, consider trying to make them your tenants. Imagine having the community bank that you use for most of your accounts being downstairs in the lobby of your building. You could go down when your representative is not busy, or even visit with one of the officers to see what they think about a particular deal you’re considering. Certainly, this would give you an edge over your competition if there is such a thing when dealing with banks. But surely it couldn’t hurt to have such a relationship.

Here is another source for financing commercial real estate deals you may not have considered before.

Finance Company Loans:

Finance companies are capable of doing things that conventional banks can not do due to government regulations or the internal workings of the institution itself. The first thing a person thinks of when this type of company is mentioned, is usually Household Finance or Family Finance. And while these are certainly finance companies, they aren’t the ones you need to be contacting. The types of finance companies you want to contact are the ones with vast real estate financial dealings. Below are three of the larger companies that do this type of business, but you could certainly find others with all of the resources available to us today to locate information.

Some Finance Company Suggestions:

• GE Capital

• Westinghouse

• Ford Credit

So in summary, I hope this provides you with some valuable information perhaps you had not considered prior. By opening your eyes to some additional resources for financing commercial real estate deals, it may be an area you will want to consider for your investing portfolio moving forward.

Network Marketing Tips to Solve The Real Problems

There are tons of struggling network marketers out there that don’t make a dime and blame everyone around them for the failure of their business. I mean, they were PROMISED that they would be rich beyond belief within a year, right? So what is the real problem with network marketing??? Here are 3 network marketing tips to help solve the 3 real problems within the industry.

Problem 1

When someone starts up with a company they are generally very excited to share their opportunity with every single person they know. This is what traditional network marketing teaches you to do; go out and talk to all of your friends and family. The eager people do this. The problem is they tend to do this BEFORE they are trained on what to do and say and then they fail miserably. The network marketing tip is to being a good leader is making sure that any new team member is trained properly with important information about the company; a few things that they can say to invite people to look at the opportunity and who they can call to close the deal. By throwing a person who has never been in this type of industry to the wolves, to fend for themselves, is a sure sign for disaster.

Problem 2

There is a lot that can be said about a person’s commitment to their own success. Most people are told that if they “get 3 to get 3 they will be rich”. I personally cringe when I hear leaders say things like this to new prospects. A good leader will not fill someone with false hope but give them the harsh reality that this is a business and needs to be treated like one. When you are looking at a business, no matter what you need to look at the future. In network marketing it is about getting people to buy your product and also become independent representatives. When it comes to personal success, most people do not know what it takes to become successful so they follow the person who leads them down this path. A few questions to ask yourself would be:

“Is this person I am following in the place I want to be in 1,2,5 years from now?”

“Does this person I am following help me get there?”

So one of the network marketing tips would be to tell anyone starting out that you can’t expect a miracle overnight. Success takes failure and time. To truly succeed at anything in life it takes a certain amount of dedication, persistence, learning and determination. When the going gets tough, look in the mirror and ask yourself if you are ready to step it up a notch and really work at the business and at yourself. That is what successful people do.

Problem 3

Your network of people you know if a vital part of network marketing. For the 3% of those who have built large and successful networks of people in their lives, network marketing is going to be an easy success as long as it is a good relationship. For the 97% of the other people it is going to take a little longer. A good network marketing tip is to always be building your network especially if you want success. There are some very easy ways to build that list of people nowadays with the internet and the different marketing strategies. Social media is the easiest way to connect with the masses of people and grow a relationship that I have personally seen and it is free to do. The secret is actually building a relationship with those people you connect with.

So overall, the network marketing company has nothing to do with your success or failure as a business person. That is all in the hands of the individual. What are you willing to do for yourself? Who are you following? How bad do you want it?? Without the constant betterment of one’s self and without a constant yearning to drive forward, then you will need to settle for mediocre in this industry.

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