Loans Funded

How to Expedite Your Loan Request

A Look Ahead for Real Estate

10 Tips for New Year's Resolutions

About Cornerstone

$22,250,000
Land Development Loan
195 Residential Condos
Las Vegas, NV

$850,000
Bridge Loan
60 Unit Apartment
Tucson, AZ

$170,000
Bridge Loan
Residential Land
Pahrump, NV


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Thank you for the opportunity to share general information relating to the commercial real estate finance industry and to inform you on what's new at Cornerstone Commercial Mortgage.

The number one goal of any borrower is to get their loan funded as soon as possible. To streamline the loan process and reduce delays, phone calls and other follow-up steps, up-front preparation is essential. The exact information to provide the broker/lender will vary somewhat depending on the type of commercial real estate loan needed whether it's income property, land, development, construction etc. However, some basic information is usually needed in order to expedite the loan request process. Consider the following brief checklist when making a loan request:

• What is the $ amount you are looking for?
• Purpose of the loan?
• Where is the property located? Give specific's on age, size, sq.ft. etc.
• When was the property purchased?
• How much was paid for the property?
• Net operating income (cash flow) generated from the property in the last several years?
• Current occupancy?
• Existing debt on the property if refinance?
• Cash borrower has invested in the property?
• Borrower information/credit score and financial statement?
  

Wall Street Journal (01/03/07) P. B4; Frangos, Alex; Forsyth, Jennifer S.; Corkery, Michael
Looking at the year ahead, caution likely will be the name of the game as far as the commercial and residential property markets are concerned. The office sector was one of last year's top performers; and it looks to continue its sizzling pace in 2007, as even such previously laggard markets as Boston and Chicago should post solid gains. However, landlords should be aware that new development in some markets could slow rent hikes. Looking at single- family homes, the worst of the housing slump seemed to be easing as 2006 drew to a close; but the sector's direction this year will hinge on whether mortgage rates stay low and the economy remains relatively healthy. Finally, with regards to the nation's apartment sector, Reis Inc. forecasts that national rent growth will hit 3.6 percent in '07, as the condo-conversion craze continues to slow and more multifamily projects are added to the market.

The best way to keep your resolution is to plan ahead. Chances are, at some time in your life you've made a New Year's Resolution - and then broken it. This year, stop the cycle of resolving to make change, but not following through. Here are 10 tips to help get you started.

Be realistic: The surest way to fall short of your goal is to make your goal unattainable. For instance, resolving to never eat your favorite desserts again could be a bad choice. Strive for a goal that is attainable.
Plan ahead: Don't make your resolution on New Year's Eve. If you wait until the last minute, it will be based on your mind-set that particular day. Instead it should be well planned before December 31 arrives.
Outline your plan: Decide how you will deal with the temptation to skip the exercise class, or just have one more cigarette. This could include calling on a friend for help, or practicing positive thinking and self-talk.
Make a "pro" and "con" list: It may help to see a list of items on paper to keep your motivation strong. Develop this list over time, and ask others to contribute to it. Keep your list with you and refer to it when you need help keeping your resolve.
Talk about it: Don't keep your resolution a secret. Tell friends and family members who will be there to support your resolve to change yourself for the better. The best case scenario is to find yourself a buddy who shares your New Year's Resolution and motivate each other.
Reward Yourself: This doesn't mean that if your resolution is to diet you can eat an entire box of chocolates. Instead, celebrate your success by treating yourself to something that you enjoy.
Track your progress: Keep track of each small success you make toward reaching your larger goal. Short-term goals are easier to keep, and small accomplishments will help keep you motivated. Don't Beat Yourself Up: Obsessing over the occasional slip won't help you achieve your goal. Do the best you can each day, and take them one at a time.
Stick to it: Experts say it takes about 21 days for a new activity, such as exercising, to become a habit, and 6 months for it to become part of your personality.
Keep trying: If your resolution has totally run out of steam by mid-February, don't despair. Start over again! There's no reason you can't make a "New Year's Resolution" any time of year.