Commercial Mortgage Broker Training

Also See:  STORE Commercial Loan Brokers Which Consists of: Commercial Loan Broker Fee Agreement Co Broker Fee Agreement & Non Circumvent Spreadsheets For Commercial Loans Commercial Loan Training DVD Course  Testimonials: "Well done, and thanks for book. I feel more prepared and  confident when I talk to borrowers" Roger Peterloski Hartford Commercial Capital "Making the leap to commercial is challenging but doable.  I worked on deals for over 6 months with out really knowing how screen deals"  Jason Kim Apex Mortgage "We have training here at the bank, but nothing as straight forward and simple to understand" Julie Cantor Bank of America "I agree that you can blow countless hours on deals when your throwing it against the wall.  The manual gave me more of an organized approach" Shawn Bloom Reliant Commercial Capital "Great book, thanks for the help.  Write another one!" Jimmy Valverde Jersey Capital "I wish I had read this a  year ago.  Good job.  I liked how you spelled it all out" Terry Montgomerry Prime Financial Group

Looking for commercial mortgage broker training or commercial loan officer training?  You have found it. 

We are national commercial mortgage brokers and wrote this ebook as a guide/way for you to become better at what you do.  

Have you ever turned in a file to a bank without having a good idea if its really doable?  Perhaps hoping they would get back with you with some input on it?  Do you have a process or some idea on how to prescreen deals?  Have you won a few deals only to see many more die?   

This book, will give you a method for pre screening deals.  You'll have a much better idea if your loan requests are viable or not -before you put weeks into it.  

Commercial Loan Officer Training

There is an incredible amount of money you can make in this business.  Many commercial mortgage brokers make mid six figures, and a few with the "magic touch" make over seven figures per year - thats over $1,000,000 per year brokering commercial mortgages.   All without having any real fixed expenses or little to no support staff.   And, this is still happening today even in this difficult market. 

However, there are a few essential skills you need to master in order to dominate in the commercial mortgage business.

1.  You have to have a rock solid lender network - you need more than a few names or just a lender list.   You need solid relationships where the lenders respect you and value your business.  Otherwise your loan package will be on the bottom of their pile and your deals will slowly evaporate.   Sounds dramatic, but it's true.  Everyone in this business is alway thinking about avoiding wasting time.  Also, you have to know their programs inside and out.  You have to know them cold. 

2.  The second main skill set you need is the ability to screen loan applications quickly - i.e knowing how to read tax returns.   You need to be an EXPERT at figuring out what the real net income is and if you can close the prospective loan before you put a lot of time into it.  You need to be able to decide to work on deals or walk from them in the BEGINNING of the process.  

We can help you with screening deals, which is really all about knowing how to read tax returns and pulling out ALL income that can be used to pay the proposed commercial mortgage.  In our opinion this is the most difficult part of qualifying loans, factors such as credit scores, LTV's, DCR and all simple and straight forward.  For example if you have a 580 credit score you have a tough deal on your hands.  But extracting all income out of a 150 page set of tax returns is no joke. 

Bottom line, if you cannot sit down and in 20 minutes review (i.e. read the borrowers tax returns) and decide to work on a deal or throw it in the "round file", you will have a very difficult time making money in this business.  You will be operating at half speed.  You will be throwing shit against the wall HOPING some of it will stick.  And when it does, you will not know why.   You can easily waste hundreds of hours on a single transaction, that could never fund in the first place.   The reality is that there are many deals that are just not fundable. If I were to take a guess at it, probably 50% of the loans we review are not doable. 

Commercial Mortgage Broker Training

What we have done here is wrote a commercial training book in the style of a case study, which is based on a deal that we recently  closed.  The example is a purchase, retail, 6 units, with a purchase price of $700,000.  The borrower occupies 60% of the building with their own business.  So, what makes this a good example is that the borrower has three sources of income 1. the borrowers business that occupies the space 2. the tenants that occupy the other 40% of the building and 3. the borrower has a separate W-2 job.  All of this income gets to be included to figure out the Global Income.  

Because the borrowers business occupies more than 50% of the building, she wanted to structure the loan as an owner occupied mortgage and thereby reduce the down payment to 10%.  So the total loan amount was $630,000.

In addition, she owns her business through a sole proprietorship and reports her business income on the Schedule C of her 1040.   Again, what complicates this deal is that the borrower has three sources of income.

So, we go through the borrowers tax returns (with their permission and all personal info blotted out), page by page and highlight what we used for income.  Because 40% of the property is occupied by tenants, we also put together a couple of Debt Coverage Analysis spreadsheets so you can see how much of the buildings income we were able to use.   

After reading this book, you will have an organized method for calculating ALL income.  You should be able to qualify your own loans effeciently after you read this training book.   

In the commercial mortgage broker training book, we:

1. Go through the borrowers 2007 tax return, page by page, and highlight every source of income that can be used, and explain why.
2. We present 2 Debt Coverage Ratio Analysis spreadsheets on the subject property.  The first shows the properties income without the borrowers rental income.  The second shows how the property cash flows with the borrowers rental income included.
3. We calculate the borrowers personal expenses and subtract out what has already been reported on other sections of the  tax returns. 
4. We provide a spread sheet that organises all sources of income and expenses and show how we calculated the total Net Operating Income of the deal (Global Income) and the Debt Coverage Ratio.   

Buy Now and the commercial mortgage broker training ebook will be emailed to you instantly (No Shipping Costs).  Normally $29.95, now only $14.95.  (You'll save $15 by buying it right now.)  Will go back to normal pricing 9/1/08.  And yes, as always, there is a 100% money back guarantee.   

Jeff Rauth
President

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Commercial Finance Advisors, Inc.
(248) 885-8797 Phone
(866) 337-3141 Fax
http://www.cfa-commercial.com/
261 E Maple Rd
Suite 13
Birmingham, Michigan 48009

 

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