start a blog about your area of expertise, post comments on relevant discussion boards, start an e-newsletter
or join an online community that targets investors. Be sure to keep the
sales pitch to a minimum. Focus on
your topic, and offer helpful, timely
advice, tips and recommendations.
Participating online has other benefits, too. You’ll quickly learn what clients and prospects care about most
and you can use that information to
sell yourself and your expertise.
With online networking and key-word-generated traffic to your site,
you’ll find the Web’s viral nature
makes it easy to reach a global audience quickly and cheaply.
<< Focus, continued from page 32
3. Repeat your message
Consumers must be exposed to a
message multiple times before it
sinks in. This doesn’t mean you have
to spend all your time branding yourself — just make what you do count.
Also, if you write articles for trade
publications, ask for copies of your
articles to post on your Web site, to
e-mail to customers or to distribute
at functions. Be sure to follow copyright guidelines when doing any of
If you have something to say but
don’t know quite how to say it, most
editors will work with you to help polish your message.
You also can work with a ghost-writer who will pitch your idea to
appropriate publications, write and
edit the piece with your input, and
see it through to publication.
4. Don’t go it alone
Many business and marketing experts can guide you through the
branding process. If marketing isn’t
one of your core competencies, work
with a professional who specializes in
Likewise, if your firm’s strategic
planning is a weak point but you have
a great network, find someone who
can help. Many pros will tell you that
they became much more successful in
their careers when they learned to focus on what they do well and relied on
partners to help with other items. •
SUMMIT FINANCIAL AND INVESTMENT GROUP
• Acquisition and Development
• Land — only with horizontal or vertical
construction (no land-only loans)
• Mixed Use
• Retail (Anchored and Unanchored)
• Office Buildings
• Single Family Subdivisions
• Golf Courses
• SFIG can arrange equity participation
to facilitate a transaction in conjunction
with debt financing.
• Office Condo
• Condo Hotel
• Special Purpose Properties
• LTV 60%-75% subject to property type
• LTC 65%-75% subject to project type
• Minimum loan amount for USA-based
transactions is $4MM USD.
For selected International transactions
the minimum is $10MM USD.
• Maximum loan amount is unlimited and
subject to underwriting.
Phone: 800.649.0311 or 801.944.4320
10421 South Jordan Gateway, Suite 600
South Jordan, Utah 84095
Real Estate Investment Bankers
acceleration versus notice of intent to accelerate, it may be invalid. This allows the borrower
the potential right to obtain a
restraining order on the date of
the foreclosure sale. Conversely,
if there are any problems with
the loan documents, the borrower should expect that the
lender will cure these flaws in
connection with any extension
Offer terms that show the bor- 10.
rower has a stake in the game.
Borrowers’ proposals must show
that they are committed to the
loan and the collateral. Offering
lender-protective terms will influence the plan’s success. Examples
include infusing capital to improve
the collateral property, paying
down the outstanding debt, adding a lockbox to trap cash, adding
escrows, adding a guarantor and
providing a current release of borrower claims.
Communicate potential conse- 11.
quences for failure to extend or
modify. Discuss what may happen
if the loan cannot be extended or
modified. For example, in the retail sector, market conditions are
causing less shopping activity
and less profits — and ultimately,
tenant departures. Continuing
full debt-service payments without any relief may risk cash-flow
shortfalls to pay normal operating expenses, including payroll
and taxes. If the borrowers do
not have the cash to pay for these
deficiencies, and the lender does
not provide temporary relief, borrowers may have no choice but to
file for bankruptcy or close down.
The lender may not be prepared to
take on the expense of foreclosure
or possession of its collateral. It
should weigh its alternatives and
the potential expense.
Be prepared for the extension or 12.
modification request to fail. An
extension or modification may be
unavailable because of market
conditions, the property status or
market-recovery projections. The
borrower’s cooperation with respect to the lender’s or servicer’s
remedial action plan, whether a
deed in lieu of foreclosure, foreclosure or something else, may
be more cost-efficient for the
lender and may settle potential
litigation against borrowers. Filing bankruptcy or handing the
keys to the lender or servicer may
risk recourse carve-out liability
and lender litigation. A cooperative and cordial workout, even if
it is not an extension or modification, may benefit the borrower and
preserve a relationship with the
lender or servicer.
12 Ways, continued from page 30
Taking these steps, commercial
mortgage borrowers proposing a
loan modification or extension to
their lender or servicer may see faster