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Commercial real
estate investing made simple.
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Commercial
Mortgage Brokers - Tips, Due Diligence Requirements & Consulting Support
Selecting a commercial mortgage broker to fund your commercial real estate
development project is fraught with dangers. If you are seeking a
successful outcome using the commercial mortgage broker route, then make the
best of it. Here are some of our tips:
- Ask for the last 10 deals the broker has completed and funded. If
the broker won't provide the information, then move on to another broker
without further discussion.
- Investigate the list. Make sure it isn't a "salted"
list of related companies or worse.
- Ask the broker which institutions they have a correspondent agreement
with. If they say they don't have one or won't let you see it, you are
dealing with the wrong broker.
- Some brokers are just connected to more brokers. Every one of
them wants to be paid a point, so you end up with too many points on a deal
that won't get funded.
- Some brokers "shot-gun" applications to a multitude of
institutional investors with whom they have no more of a relationship than
you do. Shot-gun blasts should be avoided at all costs.
Ask the questions. Listen to the answers. If you aren't sure,
call Rainmaker and seek the answers.
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Rainmaker Marketing Corporation is here to help. The first
consultation is free. |
