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samwillsonbiz
194 Posts |
 Posted - 05/23/2008 : 09:05:21 AM
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Borrower has great FICO
Borrower has over $1 B in Liquid Assets
Looking to Refinance, Cash out $80 MM
Already have lender lined up to do this with no upfront fees, only 2 points on the loan, and at 5.25% The problem is, that I have done a couple deals through them and I know it takes about 4 weeks to close, and I need this done by Friday. I'm not looking to broker this out, i'm looking for a direct lender only.
This deal is legit, have all the necessary docs.
Don't call me I'm super busy, but you can get me at my email address. s_a_w_84@hotmail.com
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ddmortgage
396 Posts |
Posted - 05/23/2008 : 09:20:56 AM
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| I have direct contact with 17 different funds that i can introduce you to. If you are interested you can email me at tyjoconsulting@gmail.com. Good Luck! |
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swmsn
4209 Posts |
Posted - 05/23/2008 : 09:39:21 AM
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Some friendly advice. ( parody answer)
You're not going to find such a great rate and close at that rate.
There are not any Direct Lenders on BO that are set up to do 80M+ transactions.
Its not like Goldman Sacs rep and AIG etc... are just hanging out here answering questions, on a post who's avg. deal post is $1M.
3 days to close on $80M with no Due Diligence fees, in Vegas will not happen.
Commercial closing rarely happen on a Friday and a holiday is Monday. = 3 days.
You will have to look to extend your deal for the 4 weeks.
Maybe the Lender you are using will do a "Fast Track" and get you a commitment upfront.
If they are not charging Due Diligence then either they are full of it, or love the deal. If they love the deal so much they can offer a commitment to lend within your needed time period. Then they will do their UW, Title, Processing, Inspections. etc after.
You can use the commitment to help you extend the time. I also have had many clients
PS. Coming to "Broker" outpost but not wanting any help from a broker limits you as well. There are several brokers here with the experience and sources to help close this deal. BUT in 3 days can't see that happening either way.
Also your borrower has $1B in assets and he needs less than 10% of that amount for a transaction is a little out there. |
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EMScommercial
5141 Posts |
Posted - 05/23/2008 : 10:14:37 AM
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ok... sam... you have the word 'parody' there in the subject.... not sure why folks are taking this serious...
you ARE joking about this scenario then, right? |
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financeone
2305 Posts |
Posted - 05/23/2008 : 10:18:10 AM
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| Sam I'm a direct Broker and can most likely get that closed today at 3pm! |
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joe313
698 Posts |
Posted - 05/23/2008 : 10:29:24 AM
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Sam,
Bob's a broker...he's gonna take too long. I can close this in 5 min...no questions. Oh, and 7 points to you as the broker...no problem.
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mortgagemessiah
8003 Posts |
Posted - 05/23/2008 : 10:37:48 AM
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quote:
Originally posted by joe313
Sam,
Bob's a broker...he's gonna take too long. I can close this in 5 min...no questions. Oh, and 7 points to you as the broker...no problem.
You both are too slow! I can get his done in a nanosecond! |
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samwillsonbiz
194 Posts |
Posted - 05/23/2008 : 10:44:49 AM
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I am completely 100% serious. I have like 3 of these a month. I do a lot of marketing. 
I find it funny that some people responded seriously. Especially because I used a hotmail address. And had "parody" in the tag line.
I'm glad some people got it.
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Quicksilver
5908 Posts |
Posted - 05/23/2008 : 11:06:34 AM
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Did people not see "parody"
lol
Nothing beats the thread about Macklowe and the GM building, was a news post and morons on here thought it was a loan..."call me asap I can do it", like Macklowe would be going to loan officer lol. |
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mortgagemessiah
8003 Posts |
Posted - 05/23/2008 : 12:28:05 PM
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quote:
Originally posted by Quicksilver
Did people not see "parody"
lol
Nothing beats the thread about Macklowe and the GM building, was a news post and morons on here thought it was a loan..."call me asap I can do it", like Macklowe would be going to loan officer lol.
I remember that. All those dumbasses who claimed they could do it. |
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DINEROS
1199 Posts |
Posted - 05/23/2008 : 12:32:24 PM
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quote:
Originally posted by ddmortgage
I have direct contact with 17 different funds that i can introduce you to. If you are interested you can email me at tyjoconsulting@gmail.com. Good Luck!
G-mail man here was my favorite.
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KHufford
10370 Posts |
Posted - 05/23/2008 : 12:35:16 PM
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Sam, we can do this all day! Full doc or stated. Email me I need more details. icandoloansinmysleep@gmail.com
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swmsn
4209 Posts |
Posted - 05/23/2008 : 1:05:56 PM
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I LOSE 2 points.
I missed parody. kinda like these test directions that said read these first and go to the bottom of the page.
Atleast I offered some good advice. :) |
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samwillsonbiz
194 Posts |
Posted - 05/23/2008 : 1:16:11 PM
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lol... this was well worth the post. This is going to make my weekend great.
Hey swmsn, it's alright, I don't think less of you for your answer, it was absolutely spot on. Because there are so many post like these and people being serious, I can see how you missed it.
I did this so I could try and see what sort of mind set you have to have to ask for a lender on such a huge project with ridiculous terms, ON A BROKER FORUM! All I have to say... is that if you have a deal that big, you should damn well know where to take it. If you don't, then I bet the farm that the Broker / LO does not know the borrower, and somehow got wind of this deal, or at least somehow got a copy of an executive summary.
I really couldn't stop laughing while writing this... I especially liked
"ddmortgage Posted - 05/23/2008 : 09:20 AM
--------------------------------------------------------------------------------
I have direct contact with 17 different funds that i can introduce you to. If you are interested you can email me at tyjoconsulting@gmail.com. Good Luck! "
Come on now.
Anyways... I hope we see less and less of those crazy nonsense deals. |
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swmsn
4209 Posts |
Posted - 05/23/2008 : 1:22:30 PM
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Thanks Sam. I failed that test in school too!
My favorite is when the broker is mad at you for not being able to close in 3 days!! LOL
dd has been doing the ol copy and paste to everything lately. He has not met Kyle ( The BO police ) yet though.
The clock is ticking.... |
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Quicksilver
5908 Posts |
Posted - 05/23/2008 : 1:25:46 PM
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quote:
Originally posted by mortgagemessiah
quote:
Originally posted by Quicksilver
Did people not see "parody"
lol
Nothing beats the thread about Macklowe and the GM building, was a news post and morons on here thought it was a loan..."call me asap I can do it", like Macklowe would be going to loan officer lol.
I remember that. All those dumbasses who claimed they could do it.
Kyle posted it, I tried finding it searching but couldn't. Kyle do you have that link, that was friggen funny. |
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EMScommercial
5141 Posts |
Posted - 05/23/2008 : 1:27:22 PM
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don't sweat it shawn.... we all get wrapped up in the flow and it's easy to miss things on here....
i liked the 'no up fee' and '2 points'.... :-) |
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Quicksilver
5908 Posts |
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ComLender
1266 Posts |
Posted - 05/23/2008 : 1:50:33 PM
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| We offer a retroactive closing, I can fund this thing last week! |
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samwillsonbiz
194 Posts |
Posted - 05/23/2008 : 1:52:25 PM
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quote:
Originally posted by ComLender
We offer a retroactive closing, I can fund this thing last week!
Absolutely great. Infact funny you should say that. But you're right, it's already closed! Must have been you guys.
LOL. |
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KHufford
10370 Posts |
Posted - 05/23/2008 : 2:54:33 PM
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quote:
Originally posted by Quicksilver
quote:
Originally posted by mortgagemessiah
quote:
Originally posted by Quicksilver
Did people not see "parody"
lol
Nothing beats the thread about Macklowe and the GM building, was a news post and morons on here thought it was a loan..."call me asap I can do it", like Macklowe would be going to loan officer lol.
I remember that. All those dumbasses who claimed they could do it.
Kyle posted it, I tried finding it searching but couldn't. Kyle do you have that link, that was friggen funny.
I was actually at the mall shopping and a lady called me about a month after that thread...she was all excited and wanted to close it....I had to break it to her that it was a news article!
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ddmortgage
396 Posts |
Posted - 05/23/2008 : 3:18:25 PM
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| I am sorry guys, I thought this site was for people who wanted to help other people,I guess I was wrong. I hope making fun of me helps you sleep at night! Maybe one day I can be as cool as the rest of you and spend all day making fun of people. You guys must be real busy. |
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KHufford
10370 Posts |
Posted - 05/23/2008 : 3:24:00 PM
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quote:
Originally posted by ddmortgage
I am sorry guys, I thought this site was for people who wanted to help other people,I guess I was wrong. I hope making fun of me helps you sleep at night! Maybe one day I can be as cool as the rest of you and spend all day making fun of people. You guys must be real busy.
Dont take it so personal. This site has a lot of "shills" that are bogus losers, until your post count is up people dont really know who you are.
The way to combat this is to spend a few weeks posting random advice and info and let people get to know you, once people 'know' your name and recognize what you are about, then start offering to take deals and 'help people'.
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ddmortgage
396 Posts |
Posted - 05/23/2008 : 3:26:36 PM
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| I don't take it to heart but it seems very child like! I do thank you for your advice! |
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swmsn
4209 Posts |
Posted - 05/23/2008 : 3:29:28 PM
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Kyle's right. What happens ( and trust me its much easier ) is people come on and cut n paste on every scenario. Many times they do not make any sense. So Darren made a rule about cut n paste and its usually better for the author to get specified answers to their post.
Wasn't making fun of you for sure. Kinda joking with my buddy Kyle more than anything.
Fridays are always light, you never want to close a Commercial deal on a Friday anyway so we can take this extra down time.
What you can do is add the 17 funding sources to your signature.
Then when you respond to someone that post you can write email sent to you,
I can help, give them a suggestion, rate range, etc...
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KHufford
10370 Posts |
Posted - 05/23/2008 : 3:30:54 PM
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quote:
Originally posted by ddmortgage
I don't take it to heart but it seems very child like! I do thank you for your advice!
No worry, a lot of people jump on here and treat it like a random blog site, but its in fact very proliferated by 'regulars' and very very tight knit in some ways.
Alot of the top posters are friends and talk amongst themselves and do business together on a daily basis.
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Quicksilver
5908 Posts |
Posted - 05/23/2008 : 3:33:05 PM
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quote:
Originally posted by KHufford
quote:
Originally posted by Quicksilver
quote:
Originally posted by mortgagemessiah
quote:
Originally posted by Quicksilver
Did people not see "parody"
lol
Nothing beats the thread about Macklowe and the GM building, was a news post and morons on here thought it was a loan..."call me asap I can do it", like Macklowe would be going to loan officer lol.
I remember that. All those dumbasses who claimed they could do it.
Kyle posted it, I tried finding it searching but couldn't. Kyle do you have that link, that was friggen funny.
I was actually at the mall shopping and a lady called me about a month after that thread...she was all excited and wanted to close it....I had to break it to her that it was a news article!
I know, you sent me her email reply lol. Anybody in Commercial a)knows Macklowe and company, and b)knows the situation with the GM building over the years as its one of the most talked about things in the industry. I can't believe people thought it was a loan, like Harry needs a loan officer...LOL |
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ddmortgage
396 Posts |
Posted - 05/23/2008 : 3:34:58 PM
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| Well thank you guys for the advice, I will make adjustments |
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samwillsonbiz
194 Posts |
Posted - 05/23/2008 : 3:36:42 PM
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quote:
Originally posted by ddmortgage
Well thank you guys for the advice, I will make adjustments
Awesome... and I'm sure they will produce better results. In fact, email me a bit about your company, some of your niches etc.
sam@renoak.com |
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KHufford
10370 Posts |
Posted - 05/24/2008 : 4:10:03 PM
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quote:
Originally posted by mortgageconductor
I really have homes for loans of this magnitude..... we fund up to 5 billion...
it takes at least 45 days.. but we can close them...
send us a deal... and get a check...
we are hiring commercial loan reps..
we are insurance company... with hedge fund money...
join our network and get access to our funding.....
Don't insurance companies have INSURANCE MONEY?
A sucker born every minute here...
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