Brian Peart - America's Top Producing Commercial Lender

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Posted by admin in Brian's Blog, Recent Closings on 23. Oct, 2011 | No Comments
$385,000 Oil Change Business Refinance
Where: Garland, TX Type: This is another of the many loans that I close where one of the big banks approved the loan, then dragged on processing the file and finally denied it after 3 months, leaving the borrower out to dry. We came in and got the loan closed
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Posted by admin in Brian's Blog, Recent Closings on 23. Oct, 2011 | No Comments
$460,000 Hardware Store Purchase
Where: East Point, GA Type: This was a straight purchase of a non-franchise hardware store that was already running. This was another loan that got turned down by one of the big banks after they had initially approved it. It is amazing to me how often that happens. But we
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Posted by admin in Brian's Blog, Recent Closings on 23. Oct, 2011 | No Comments
$600,000 Discounted Note Pay-Off
Location: North Aurora, IL Type: Declining property values and a slower lease up time then expected put this borrower in a financial bind. He owed $1.6 Million and the property only appraised for $1 million. Unable to make the payments, the bank offered him a deep discount but no one
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Posted by admin in Brian's Blog, Recent Closings on 23. Oct, 2011 | No Comments
$2,870,000 Multifamily Refinance
Location: West Olive, MI Type: YES, we lend in Michigan! This was a student housing apartment complex that needed to refinance because of a note coming due. We got them a FNMA loan with an incredible 10 year fixed rate and a 30 year amortization. We don’t just do the
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Posted by admin in Brian's Blog, Recent Closings on 23. Oct, 2011 | No Comments
$263,000 Firehouse Subs Franchise Start-Up
Location: Columbia, MD Type: Getting start-up money for a restaurant with no real estate involved is never an easy chore, even for a strong franchise like Firehouse Subs. In any given state, less than 5% of the banks will even consider this type of loan. But we have the sources
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Posted by admin in Commercial Real Estate, Recent Closings on 17. Jul, 2011 | No Comments
$665,000 DayCare Purchase
Where: South Carolina Type: This deal came to me because there was a significant amount of business only value in this purchase and the other lender wanted them to put up additioanal collateral including their parent’s property. But the deal was strong enough to stand on it’s own. We got
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Posted by admin in Commercial Real Estate, Recent Closings on 13. Jul, 2011 | No Comments
$7 Million Take out loan for a Movie Theatre
This was an end loan for a movie theatre that had been constructed and, needed the construction loan taken out. The problems on this deal ranged from political issues at the county board trying to get the CO (certificate of occupancy) to liens against the developer of the planned unit
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Posted by admin in Commercial Real Estate, Recent Closings on 13. Jul, 2011 | No Comments
$6.4 Million Refinance of Office/Warehouse space
This client owns a company that does in excess of $70 million a year in sales. A millionaire many times over with his own private jets (yes, plural). Yet, because sales had declined in the last two years and, the size of the loan was over $5 million, the local
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Posted by admin in Commercial Real Estate, Recent Closings on 13. Jul, 2011 | No Comments
$1.9 Million Retail Shopping Center
Note Discount opportunity – A common theme happening today is the selling of the notes from banks that are in trouble or need to get debt off their books. Note buyers will buy these notes at 40 cents on the dollar – often with NO knowledge by the business or
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Posted by admin in Brian's Blog, Commercial Real Estate, Recent Closings on 10. Jun, 2011 | No Comments
Crazy Assisted Living Deal
This was a small assisted living facility in CA and the sellers were in prison and the lender was looking to foreclose. Because of the potential legal issues with the seller-no one wanted to touch the deal. But we looked past that and got them an SBA 7A loan. Sure,
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Posted by admin in Brian's Blog, Commercial Real Estate, Recent Closings on 06. Jun, 2011 | No Comments
$550,000 Private Money Loan
Borrower had a chemical mixing company and the annual government inspection uncovered a potential leak. They needed money quickly to remove the materials and replace or they would be shut down. We did a private money loan against their building and closed it in 14 days-saving the company. When you
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Posted by admin in Commercial Real Estate, Recent Closings on 07. Apr, 2011 | No Comments
$1,200,000 Investor Refinance
Location: Dallas, TX The note was coming due in 30 days and the current note holder was only offering a monthly adjustable rate option. The local bank had also turned this one down. In addition the borrower’s biggest tenant, who occupied 40% of the property, had a lease that was
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Posted by admin in Brian's Blog, Recent Closings on 03. Mar, 2011 | No Comments
401 K Rollover to Start a Firehouse Subs Franchise
Where: Napierville, IL Client had the desire to open a Firehouse Subs and build something for her future. Problem was, she did not have the experience and collateral combination needed to get an unsecured business loan for the restaurant start-up(something I do a lot of for Firehouse Subs). But, she
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Posted by admin in Brian's Blog, Recent Closings on 11. Feb, 2011 | No Comments
$850,000 Mixed Use Purchase-SBA 504 Loan
Where: San Francisco, CA Type: This was the purchase of a building and land by the Restaurant that occupied it. Typically a simple 504 transaction however this deal had some wrinkles-what deal doesn’t today? The first was that the father was selling it to the children which some lenders will
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Posted by admin in Brian's Blog, Recent Closings on 11. Feb, 2011 | No Comments
$1,650,000 Cash Out Refinance
Where: Lexington, NC Type: This was a complete cash-out deal for a seasoned investor. He owned this property free and clear and wanted to pull money from it to buy another investor property. The big problem on this deal was the amount of cash out. No local bank or credit
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Jun

tagged: 401k, Brian Peart, Commercial Capital, commercial financing, commercial lending, Finance, Restaurant, SDIRA, SDIRA financing

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IRA Rollover..to open a restaurant!

Posted by admin in Brian's Blog, Commercial Real Estate, Recent Closings

Borrower was downsized at NASA and wanted to start a new career in a business that he owned himself. Yes, he was unemployed. He wanted to open a Firehouse Subs in his hometown. But his lack of experience and collateral made him un-fundable in today’s environment. We did an IRA

Apr

tagged: Brian Peart, Commercial Capital, commercial financing, commercial lending, Discounted Note, Finance, Note Financing, Private Money

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$450,000 Discounted Note Deal

Posted by admin in Commercial Real Estate, Recent Closings

Where: Canton, OH Sometimes people don’t have 30 days. This guy was going to lose the property if he did not close by Wednesday. The lender was calling the note and offered a deep discount if he would pay it off by a certain date-otherwise, they would execute the foreclosure.

Mar

tagged: Brian Peart, Commercial Capital, commercial hotline, commercial lending, commercial net branch, Commercial Training, mortgage training

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Help For the Journey! 03-02-2011

Posted by admin in Brian's Blog, Site News, Tip Of The Week

There is an old saying, “if youth only knew, if old age only could” and it speaks to the fact that if we just listen to those who have gone before, we don’t have to make the same mistakes. Mentorship is possibly the FASTEST road to success because, it can

Mar

tagged: 401k, Brian Peart, Commercial Capital, commercial financing, commercial lending, Finance, IRA, Owner Occupied, Restaurant, SBA, SDIRA, SDIRA financing

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$300,000 Restaurant Franchise Purchase

Posted by admin in Brian's Blog, Recent Closings

Where: Wisconsin Type: This was a start-up loan for a Firehouse Subs franchisee, business only, no real estate involved. Every month, we close at least one of these for Firehouse Subs. We roll in equipment, working capital, tenant improvements and much more. If you are thinking of buying into ANY

Mar

tagged: Brian Peart, Commercial Capital, commercial financing, commercial lending, commercial net branch, Finance, Warehouse, Warehouse financing

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$440,000 Furniture Retail/Warehouse Refinance

Posted by admin in Brian's Blog, Commercial Real Estate, Recent Closings

Where: Lexington, SC Bank was getting ready to foreclose on this property since the note was due and the client had failed to get financing to refinance it. His problem was that he had a horrible 2009 and though he had good financials for 2010, would not have his tax

Mar

tagged: Brian Peart, Commercial Capital, commercial financing, commercial lending, commercial net branch, Finance, non owner, Retail

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$750,000 Retail Purchase

Posted by admin in Brian's Blog, Commercial Real Estate, Recent Closings

Where: Jacksonville, FL The tricky part of this loan was that it was not really investor, and not really owner occupied. They buyer is a tenant in the retail strip center with about 30% of the property-so SBA and other “owner occupied” deals did not work. The other tenants did not cash