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For too many Americans, the pandemic has limited their ability to grow their businesses. One of the ways we have been able to combat the pandemic and help business owners, investors, and entrepreneurs is by offering easy-to-access bridge loans. Bridge loans are one of the tools that we use to help get borrowers over troubled waters and short timeframes.

What is a Bridge Loan?

Bridge lending or loans are used for business owners and investors who want to access to cash without jumping through harsh underwriting and qualifications. This normally takes place when a building is in a transition phases or growth phase.

Since most larger retail lenders such as Bank of America or WellsFargo traditionally prefer lending on structures that are stabilized. Structures that are not stabilized or fully leased are considered higher risk and less desired for portfolio lending. This is where bridge lending is most effective. It gives the entrepreneur, and investor access to funding to complete their deal or project.

Who Needs These Loans?

Borrowers who had credit challenges such as bankruptcies, pre-foreclosures, loss of rent etc.

For Example:

A client of ours owned an insurance company that was located in a strip mall.

The insurance company had a land contract with the owner to purchase within 5 years and make on time payments. His land contract allowed him to refinance as a way to purchase or payout the previous agreement with the owner.

Due to COVID-19 the insurance company had missed payments and some of the other tenants had vacated the property. Ironically the land agreement was in default and needed to be paid off in full.

By properly structuring the deal and creating a compelling story of the importance of preserving the building and company we were able to get the deal done for our client when other banks and lenders would never touch the deal.

How I Can Apply

Pandemic and Post Lending

Lending based on the deal type and structure not on borrower credit.
Let us know why you need the loan.
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Hey, everyone. Welcome, welcome, welcome. My name is Leland Baptist and I want to share with you an amazing connection that was made earlier this week. What basically took place is that were on the hunt, looking for a lender for one of our clients as an exit strategy and in the process had an amazing discussion with this gentleman named Ed. I believe it’s important for us to introduce him to you because I am, for sure, that this would be a great resource for you guys going forward. So, welcome aboard, sir.

Thank you, Leland. Thank you very much.

So, Ed, can you tell Hank and I just a little bit about you and then also about your company?

Sure. So, I’m the Executive Vice President at NuBridge Commercial Lending. We are a national lender in 48 states, every state but North and South Dakota. You’ll find that with a lot of lenders, they kind of avoid those two states for compliance reasons. And I’ve been in the industry since the mid-early ’90s, even though I still look only 21, right?

There you go. I can tell.

It’s a good thing my wife isn’t here because she would not agree with that. Yeah. So, we are in a recent transformation where, due to the COVID pandemic, changed our name and our model, to a certain degree, and our product is focusing on commercial properties, obviously. But those that may be struck by a lot of the issues people are seeing today because of the COVID environment; the restrictions, the ignored asset classes that all the banks and lenders are petrified of. It’s bridge money. And what is bridge money? It’s something that takes care and addresses the issues today. “March 31st. What’s going on here? We need to address these issues.”

Exactly what it says; we’re giving a bridge from point A to point B with palatable rates and terms, and we’re one of the very few in the industry we don’t take any upfront fees. We do a lot of work upfront on our time and done before we issue a letter of intent, which is, for those that don’t understand what a letter of intent is, for all intents and purposes, it’s a pre-approval but it’s more than that with us. When we issue a letter of intent, we’re telling you, based on the information you’ve given us, “We’re giving you these terms. We’re offering you these terms, on that subject property, for that individual, based on what you’ve told us.”

And those terms, as I say in the bridge market, are very aggressive for bridge money. And it’s no different than car insurance or health insurance. If you’re in a lot of, God forbid, car accidents, and you’ve run red lights and get a lot of red light tickets and summonses, you pay higher auto insurance. If your deal is more risky, whether it be from a credit perspective or a loan-to-value basis, whatever that issue is about the deal that may make you non-bankable at the time being, we’re going to put the stitches on it and fix it now and price it accordingly. And it could be credit, but it could be just what’s going on in today’s environment where the banks are neglecting people they would normally make a loan to because common sense has gone out the window, so to speak.

And obviously, there’s more and more about the vaccine, but there’s more than half of America that isn’t taking it either, that is worried about effects of it on the long-term and the unknown. So, the COVID effect is not going away anytime soon. You have asset classes, such as retail, that were under attack before COVID. Why? You got this little company called Amazon. I just recently did a webinar where I was explaining to people the Jersey Turnpike, 10 years ago, you couldn’t give warehouse space away. It was when you go down the New Jersey Turnpike, I’m in New York, but when you’d cross over and travel southerly or northerly on it, you’d see so much warehouse space.

And then you saw all the new craze in fitness, CrossFit. You saw a lot of CrossFit places popping up where? Industrial sites, warehouse space, why? It was dirt cheap. Well, that two to $4 a square foot price is now more like 18 to $25 a square foot depending on where you’re located. Why? Because that little company called Amazon and Shopify, they need distribution sites. So, they’re picking out locations and they’ve changed this asset class to be a very, very in-demand asset class, and it’s hurt retail, although you still have a strong base in that field. You’re always going to have people that want to… and especially after this, people just want to get the heck out and touch and feel a product, too, and try something on rather than go back and forth via FedEx, or Prime Delivery, because it doesn’t fit.

So, retail isn’t going away, I think it’s going to be a little changed. At the end of the day, office space, your traditional banks they’re petrified. And I don’t know why because, if you think about it, there’s two ways. You can look at it and the glass is half empty or half full. I tend to be to the positive side of things. They changed the rule in the NFL, and it’s the old unintended consequences. They said, “We’re going to make kickoffs, we’re going to move them up so that they kick it out of the end zone.” So, what does everybody do? They pooch it to the five to cause a run back now, so there’s more run backs than they want before they changed the rule.

So, in office space, if people think they’re never going back to an office again, they’re nuts. Companies grow in offices. How do you hire from within? You can’t get it from a guy who sits on a laptop at his kitchen table all day long. I want to know the water cooler chatter, I want to see who’s the first guy in the office in the morning. “Hey, who’s cars that in the parking lot? Man, that guy’s burning the midnight oil in his office.” So, that’s the side, I think, that smarter minds will prevail. Now you may see things, like we’re seeing right now, a large demand for single-story office space. They repurposing so they don’t have to get in elevators. Okay. That makes sense, maybe.

Or maybe it’s two flights or three flights instead of, “I got to take it up to the 180th floor to get to my office.” Or maybe they’ll change the layout of the elevators or how many people can be on them. But if they think those asset classes are disappearing, they’re nuts. In the bridge side, we just repurposed a building to office space. Multifamily will always be there, and I’m mentioning asset classes that we finance. So, you have mixed-use, multifamily, light industrial office, retail, self-storage, warehouse, mobile home parks. Mobile home parks happened to be one of the hottest… and self-storage facilities, asset classes amongst savvy real estate investors right now.

Yes. They are.

Why? The people are living longer, and they’re still coming to this country from all over the world, not just Central America, to be here and people need a place to keep their stuff, and they need a place to live. So, the rural neighborhoods, which are known as tertiary markets, where we lend in at NuBridge, most lenders will not go near. I just funded a loan. Actually. I’m sorry, it didn’t fund yet. One that’s getting ready to fund 60 miles west of Boston, and no one would give this guy a loan. He’s got a great logistics business. He’s in logistics, the railroad tracks come right into his property. All he wanted to do was knock down one building and replace it with a state-of-the-art warehouse. He signed a big contract with Gillette razors and he wants to use that warehouse, there’s five buildings on the property now.

So, he just wants to knock down an old outdated one and replace it with a prefabbed one, it’ll go up in three months, to specifically store and service Gillette only. No one would give him the money; we’re doing that alone 6.9 million, 3 million for the prefab warehouse, and the other three in change pays off his existing loan. But people don’t see. They’re worried about God knows what in this environment. Before we reopened, I was assisting as business manager and I said, “Hopefully we will reopen in time to handle this for you.” I said, “But what I will do for you right now is I’ll reach out to some associates in the industry that I know that are bridge lenders that are open now,” and they felt that that was, “Too far out of Boston.”

I’m like, “Are you nuts? They’re strategically located two hours from New York. They’re an hour and a half to two hours from every New England state capital; Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York. And then you can can go west to Ohio and Pennsylvania. They just didn’t see it. So, in general, a tertiary market, these smaller markets, is where you’ll find the mobile home parks, the self-storage facilities going up. We just did two in upstate New York. Now, what may we do in a tertiary market? And this is one of the things that makes us different than any of those out there, we may limit the loan-to-value, the exposure, sure. You got to have a little more skin in the game because we are in the outskirts-

Yeah. Risk or risk.

Once again, it’s common sense lending on those property types.

Absolutely. Something that you mentioned, Ed, is that most lenders don’t see the vision, and so a lot of times when you’re going to a underwriter, you’re trying to explain your loan scenario, they may not see the vision. And right now, with COVID, whether people want to talk about it or not, there are commercial buildings that are behind or in default. So, having a resource like NuBridge, and having relationships with you guys is paramount right now in the economy. You got to have an exit strategy. At some point in time, that veil is going to lift up. You want to be protected.

If you look on our logo, it says we’re a bridge lender who sees value where others may not. So that’s why the story is so important, you just give us a little bit of facts on what’s going on and then we’ll be able to dissect it and tell you, “Yeah. It makes sense,” or, “Look, this market data doesn’t make sense.” We also save the borrowers a tremendous thousands of dollars as we don’t do appraisals, we do a site inspection. So, a physical inspection is done, rather than a four to five to six $7,000 appraisal done, and that’s only 1,500 bucks. So, after we’ve issued a letter of intent, that’s the only monies we take to pay for that.

And we already know at that point we’re doing a loan unless we get there on the site inspection tells us something totally different, which is why I say, “Give us the facts upfront even if you’re afraid,” because we’re on your side, and we do ugly deals, we get it. We’ll do maturity defaults. And part of the issue why we started with bridge when we reopened in September is because not only, as I said, the COVID issues and the retail stores that you see that are boarded up and people that have lost tenants and tenants not paying and the vacancy factor. Traditional lenders if you had more than a five to 10% vacancy factor, you’re done.

Banks are auditing their portfolios now. My friends are one of the largest community banks in New York, and he just told me they’re not inviting customers back who have 20, 30 year relationships with them when their loans balloon. They’re like, “Sorry.” They’re like, “What do you mean? You’re not going to renew us?” “No. We’re trying to level our portfolio and get less retail in here now.” Meanwhile, you’ve got a perfect borrower who’s been with them for years and they’re tossing them to the curb. And then you have the cash out feature, where they’re petrified of cash out, and you can’t compare resi to commercial. The largest percentile of fraud deals that were done when the implosion happened in ’08/’09 on resi were cash out deals.

But it’s different commercial, we’re talking about cash flow in properties. So, there’s so many little unique niches, we never hold reserves unless your property has less than a 1% cash flow debt-service coverage ratio to it, which also saves tying up borrowers’ funds. So, you may have a building that’s 50% vacant, but he may have a 0.90 debt-service coverage ratio. We’ll only hold that minimal 0.10 piece rather than the whole payment for 12 months. We just found that a self-storage facility in the outskirts of Atlanta; eight and three quarters, interest only, non-recourse.

That means they can hand the keys back, “See you later.” $7 million. And the reason we got the deal is we only help 400,000 in reserves. Everyone else was at 1,200,000 to 1,500,000. We also don’t hold escrows, impounds for taxes and insurance; the borrower pays those on their own, so that also decreases the tied up capital in this. We close these loans in 12 to 18 days and truly, you and the borrower, are the determining factor there. If it takes longer than 20 days, I tell everybody, “Look in the mirror or blame [inaudible 00:16:01]. It’s not going to be us.”

I want to touch on some of the things that Ed said, and why it’s so important. A lot of small business owners, or people who have a lot of commercial in their portfolio, There is normally a lag on their payments, not all the time, but normally there’s a lag on their payments. And then, if you’re not able to have the right amount of liquidity, it can all go to hell. So, if you don’t have to have 24 months of reserves, that allows you to cash flow better. And that’s a huge, huge, huge part because basically, if you’re not able to cash flow, you’re just going to end up defaulting all over again. That’s super important.

Yeah. So, there’s so many different features right now; borrowers need that working capital, business owners that own real estate, people are repurposing properties. In New Jersey, we did one, it was a bakery for years and the guy’s turning it into warehouse space because he cut a deal with Amazon to use it. So, we don’t do any ground up, we need a building on the premises with, “What’s your plan? What’s your story here?” Whether it’s vacant or whether it’s occupied. I just took in a fully stabilized, cash flowing, beautiful eight-unit multifamily in New York this morning, sent out the approval. Why is he coming to us, you’d say? He’s bankrolled. The bank won’t give this guy the cash out he wants. He saw another property.

So, a lot of them are being extremely restrictive with cash out because you have these memorandums that are out now about, you’re constantly hearing it on the news, “You don’t have to pay your rent. You don’t have to pay your mortgage.” That doesn’t mean it’s going away. They’re exacerbating the problem, here, because encouraging people not to pay is not a good move, and at some point, the piper’s going to come calling to get paid. So, we are not afraid of all those asset classes, and this is what makes us so definitively different than others. We’ll go to 70% of loan-to-value, as is. Because they’ll always be two values when you do a bridge loan; as is, and the stabilized.

The stabilized, for the obvious reason, is a fully cash flowing property, with minimal vacancies, it’s leased out rocking and rolling. That will always be substantially more in value than the vacant or half-full building. So, you can do this whether it’s purchase for investment reasons; you’re looking to acquire real estate, no bank is lending on a vacant property but you want to acquire it because you got a plan. Great. Pick it off. We’ll give you that money. What’s your plan? We’ll even put money in to help rehab.

Hey, Ed, in some of those acquisitions where someone maybe wants to purchase a vacant building, what’s your comfort level with you guys allowing syndications in that purchasing process?

So, in our old life with the end loans, we hated syndicated deals where there was a main borrower with very little skin in the game, and all these other people. In the bridge money, we’re not as concerned with that. But we do need the majority percentile of ownership on the deal, so at least 51-plus percent. And we don’t care if there’s 10 other people with 5% long as we have the majority of ownership and he has the authority to move forward with financing. Which the operating agreement would show us, anyway.

Absolutely. I-

And that’s why we asked for an attorney opinion letter. And we usually only want that when there’s multiple borrowers or owners, because it’s telling us that, “Hey, this individual has the authority to sign on behalf of the entity. That’s the main reason. Not for the attorney to say, “Okay. Hank, these terms look great. Sign the loan.” That’s not really what it’s about.

Yeah. Find a new attorney.

And as I touched on before, maturity defaults, and you brought that up as well. A lot of lenders will stop taking payments, “Sorry. Not taking them anymore.” Well, guess what, we’ll never let another lender hold a borrower hostage. When you go into maturity default, traditional banks will not touch you. So, we’ll come in, we’ll do bridge money for them, you’ll iron out the issue, 12 months later you’re 12 months removed from the maturity default and we get you to an exit loan. And as I said, in the future, we’ll be rolling out our old product and programs from our former company here at NuBridge where we will literally be a one-stop-shop from A to Z. Here’s the bridge, here’s the exit, we got it all for you under one roof.

Awesome. Awesome. Hank, you have anything you want to add or any questions that you have for Ed?

Yeah. I’ve got a couple of questions. Ed, what type of deals, as it stands right now in the midst of COVID, do you guys shy away from?

So, we don’t do any hospitality, but that’s just not an asset class we’ve ever touched. So I would say anything having to do with COVID, with the building classes that I mentioned; mixed-use, multifamily, light industrial, warehouse, office, multifamily as I said, mobile home parks, self-storage facilities. The only thing that would shy us away from doing one of those property types is the condition of the property. If you said, “Hey, I got this office building, it’s two stories, but they have air rights and they’re going to put four stories on it,” that’s too much construction for us.

Now, a couple of times you’ve mentioned COVID and perceived or actual impacts of COVID. I think most people hope COVID’s not going to be around forever, and markets will probably start to loosen. So, what are you guys looking at? How are you positioning yourselves post-COVID?


Or in an elongated COVID environment where we will have some remnants of it forever?

Sure. So, there’s two or three phases to this. Number one, there was always a need for bridge money before COVID. Always a very, very busy extensive market. People are always looking to move and shake and make investments. I mean, I myself had bought a bank property that was a former Bank of America site, and I had the cash to put down. My partner is still, to this day, in an 11% loan for his portion of the building. Three years later. I’m like, “Better you than me.” But bridge money, there’s always a need for it. Always.

Now, moving forward, and we all hope we get away from this sooner rather than later, I don’t think you’re going to see us fully recoup from this for at least two years. And long before that ever comes, we will have other products in program, for the pretty borrowers that the banks are turning down, as well, so they won’t have to go bridge. And the flip side is who knows how these lenders are going to react even after? It’s going to be in the back of their mind.

You mentioned that you guys don’t really do hospitality, do you put Airbnb property-

Yeah. No. We’ll look at those case-by-case, we really don’t care for them. But we’re starting to get a little more, “All right. What do you have? Let us take a look at it.” We don’t want to just punch in the nose and say no, but it’s not one that we normally do. It would be on an exception basis.

And the reason I asked because is I know some individuals who are looking to do like a family outing post-September, and two months ago they were looking at property and the rental rates for those properties were, hypothetically $500 a night. A week ago, same property had jumped to over 900 a night. So, it’s as if someone somewhere anticipates that people will start to travel in premier locations, and the anticipated frequency of occupancy will go up. So, that-

You know why, right? Because they don’t want to be in a crowded hotel.

Yeah. And they’re ready to move.

No. They want to get away but, “Hey, if I can get away with the wife and kids and be two blocks from the beach on the shore of Lake Michigan or wherever, let me do it that way rather than stay at the Marriott with a million kids and families. And the kids touching this, that, and the other thing not knowing who’s doing what in the pool.” I think this is going to change travel and the way we look at things the same way 9/11 changed security. And unfortunately, and this is just me throwing my own two cents in there, my own opinion. Unfortunately, it had to happen during an election year so all of these, excuse my French, jackass politicians on both sides, blue and red, politicized it. And guess who the loser is? The general public.

The people. Yeah.

The people. Whether you’re white, black, green democratic liberal, conservative, it doesn’t matter. I hope everybody’s paying attention and looking at the gas pump right now.

Yeah. I had to fill up my car earlier.

Yeah. It’s about 20% higher, we’re up $1 a gallon. It was costing me about 50 bucks to fill up my Ford F150 and I filled up the other day, and now it’s been consistently 76 to $80. And everybody I talk to said it’s about 20 bucks higher on a fill up than it was. That’s just the start of it. You can’t just keep printing it at some point.

I want to touch on this, too. When it comes to Airbnb, just in general, I know that people will land every now and again on Airbnb, but a large part of that has to do with the regulation tied to the state. So, if a state chooses, maybe we can say Marriott, whomever, if they have a lobbyist that has a state that says, “Hey, can you guys add this additional regulation to slow down Airbnb, then that will shut it down immediately. For example, for Uber and Lyft, in certain states and certain cities, it’s not allowed because of the politics that’s associated with it. And so Airbnb, can be very subject to based on what politics happens.

Hm. That’s a good point, Leland. And those are the things that go below the surface of politics or E-commerce, it’s just crazy. I’ve got one last question, Ed, I’m just sitting here thinking, and you mentioned something about the fact that you guys are aggressive on bridge lending. Is that because bridge lending is your sweet spot or that you’re better at it than some other folk that are out there, or you’re more aggressive, or you’re better at it? What-

Yeah. So, there’s a couple answers to that. And I would tell you, I never berate the competition. I kind of feel we don’t have any when you look at what we do, and there’s a couple of reasons. We get-

Speaks for itself, huh?

We dust it all out in the beginning, not to waste your time and money or your customer’s. And letters of intent come out, literally, in… I sent one out in 15 minutes, it went into my loan analyst after I pre’d the deal, because we’re the filters. The upfront people the filters. Myself and my sales force. So we’ll filter, it’s a viable deal, “Hey, Leland, get me this, this and this.” Very simple, not a lot. You’ll be shocked when you see what it is what you need. And that ease of doing that, and getting the quick, accurate answers, along with the fact that we’re entertaining such a wide geographic footprint, and we’re open to hearing your story. Just tell us the story.

Our bank president’s biggest pet peeve, and I get it now, is he doesn’t want to get three quarters of the way into the process, spend the borrower’s money and time, even though it’s only 1,500, it’s still $1,500 hard-earned money, or $2,000 for their due diligence. And then, we’re hearing about this missed mortgage payments, why didn’t you just tell me at the beginning and tell me that, “Hey, the bank stopped taking payments?” You checked off on the original submission form, “No missed mortgage payments.” He looks at it like, “Come on. What else are you not telling me now?”

That’s why we ask you six simple questions on the lower left-hand corner of our submission form. And I cannot tell you I wish I had $1 for every time I said, “Why didn’t you tell me that in the beginning?” Because 99.9% of the time, as they say the truth will set you free, the truth made the most sense. So, those reasons, combined with the aggressive LTVs, the pricing, the transparency, the time to close, we make all our own decisions. We have a different parent company now that we run the show. We even service the loans ourself, so there’s no waiting for your statement for OKWIN or whoever, or situs who’s not calling you back.

All you do is pick up the phone say, “Jorge, I think I’m going to be four days late.” And he’ll be like, “Okay. When do you think it’s coming?” There’s a servicing department in-house under one roof. My daughter played division one fastpitch softball, so I used to get yelled at, my wife would jab in the ribs and say, “That’s not politically correct.” When a girl would take a swing and I’m like, “You can’t swing like you’re half pregnant!” And my would go, “Shut up! [crosstalk 00:33:23].” And the coach loved it. You know why? You can’t be half pregnant-

You can’t be half pregnant, that’s why.

You can’t be half pregnant! You’re either pregnant or you’re not pregnant. There’s no in-between. And this is what I love, I’ve been at many seminars and sat on many panels, and I’ve just be going, “Wow, this is why people are afraid of commercial. It’s not rocket science. They make it so great.” It’s white for black, it’s simple. There’s your answer. Tell me what’s up, I’ll give you the answer. You say hotel, I say no. Say hotel to me again, I’ll say no louder. You say Airbnb and I say, “We’ll entertain but it’s not our normal asset class.”

You say mixed-use, and I’ll say bring it on as long, as it’s a million-dollar minimum loan amount. So, we’re from 1 million to $10 million, we really do not go below a million. It’s very rare. Maybe in the nines, once in a while, but very rare, and above 10 is case-by-case. So, I would say, and I apologize for long-winded answer but that’s the law of the truth. Those are things that come out that I can tell you right away. We will be on the cover of the Scotsman’s Guide in May. That’s the equivalent, in our industry, of getting the swimsuit issue for Sports Illustrated [inaudible 00:34:50]. So, this May, next month we’ll be on that cover and-

What would it take to get you to go beyond 24 months on a deal?

So, this is what I tell people, we don’t want a property, the furthest thing from it. The cheapest money-

You just want to help and get on out the way. Okay.

12-month money is cheaper, 24-month money is usually a percentage point higher. If you got into the 24-month for some reason it couldn’t exit, we’re not like these groups in the city, Manhattan. If you go see Rudy Kats, at Columbia Capitol, he’ll say, “Oh. I loan to own.” We don’t do that. And he ain’t kidding. They tell you he knows the value, they don’t want your property. And that’s not a question you want to ask up front. To me, yes you could say, “He’s a little leery,” and I’d say, “Look, Hank, 24 months from now, they’re going to work something out with them.”

Right. Yeah. Yeah. If you can’t get it done in 24 months, then this is not-

And what’s the worst-case example? They give them a six-month extension and charge them a point. There’s your worst case.

I didn’t hear that but I get it. Bridge loan is exactly what it is, it’s bridge loan, period, it’s not permanent financing. I get it.

And that’s why you have to be careful with who you’re dealing with because there are many out there that do want the property.

They do. That’s their-

And they’ll sit back and they don’t care because they have very, very deep pockets and they will wait. And of course, you have certain states where the foreclosure procedure is much quicker and easier than others, so you have to be careful.

Yep. Yep. And I want to say this as we wrap up, anyone who’s thinking of themself like, “Man, what do I do?” You have your investment property, you have your retail space, let’s say you’re a doctor, physician, you have your office space. Don’t wait. Don’t wait. Take action now. If your loan has been called due and you’re trying to figure out what to do, where to go next, reach out to Ed.

So, what we’re going to have is we’re going to have a little page that will actually have Ed’s information. Also, his programs that he’s sent to us so you guys can review it, it’ll be available at And that’s spelt N-U-B-R-I-D-G-Ein. So, You can also reach out to Ed, and Ed, it’s okay if I give your contact info?

Yeah. That’s fine. But ideally we want you to be their facilitator. Because we don’t want to eliminate you, you’re the person that should truly facilitate and assist them in the process.

Sorry about that.

That’s okay.

But definitely go to and we’ll be sure to get right on that, help you out in that scenario, get those things packaged together, speak with Ed, so you can all have your next steps. Ed, anything you want to add before we conclude?


Yes. Only thing I was going to add is just based on a gut feeling, and listening to what’s happening or might happen in the economy, the 1.9 trillion. There’s 2 trillion that’s being talked about today in Pennsylvania for infrastructure, and some other legs. And then, there’ll be another large piece for some other aspect of rebuilding America. So, there will be lots of money available, lots of opportunity available. And I agree with you, Leland, if people got their stuff together and they’ve got a strategy for buying or improving their assets, now is the time. Because I think, Ed, you may remember years ago there was in a commercial and it was called first-mover advantage, and I forget who that company was, but that’s where it is now because though your company is doing a lot right now, I don’t think that you have an unlimited pot of resources to do deals. There’s only so many deals you can do in a period of time, a course of a month or a year, what have you.

Well, the one thing that’s another good thing with us, from a capital standpoint, it is an infinite amount with us. We have a very strong balance sheet-

Oh. Really?

Yes. Yeah. So-

Come, people, come.

Bring it on. Let them reach out to you because you’re the contact. We’re wholesale lenders, if they contact us directly, they’ll always be directed back to you, the broker, which is rightfully so and most brokers appreciate that.

Ed, and I did look at the sheet and you’re right; they’re very succinct questions, and we’ll make certain that we don’t send you any deals that are not pre-qual.


All right. Well, that is it. Ed, thank you so much and-

You’re welcome.

… please take advantage of this. It’s super important.

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