Arnold 's Blog

What are the rules for referrals and networking?  Is it all "free form"?No.  As it turns out, there is a lot of literature on cooperation, and the rules that cover it.  The winning rules are easy to spell out:1. Be nice. Start by cooperating with everyone and cooperate as long as they do.2. Retal...

My business plan involves walking commercial districts.  I like to see business being done, and I like to get the "temperature" of the neighborhood: how much business and how happy are the businessmen?Today, I was handing out flyers as usual, introducing myself to businesses, getting a couple of ...

I have noticed a change (gradually) in the lineup of loans available that I scan: more and more banks are getting out of the business of lending on land, leaving it to hard money lenders.  Many of those who are still in it are basically in only on the refinancing end, not the original loan, and a...

Making sense of a quote is harder for borrowers than they think: and one of the differences lies in the most commonly used tool for quoting real estate loans, which is the spread over 10 year treasuries. For example, here's an old quote I could give when talking to borrowers: "The loan will have ...

How have I been spending days as a commercial mortgage broker?1. Three days a week, going to the gym for an hour.  Doesn't look real estate related, but I have to keep in shape for the rest of it.2. Three days a week, drive to a commercial district and walk to all the standalone small businesses ...

Estate planning.  Wills. Trusts.  Powers of Attorney.  It all sounds so final.  I'm not old enough to do that stuff yet.  That was what I thought.  This is a reminder that I was stupid to think that.My wife was old enough at 39 to need a conservatorship of the person, due to a disease that manife...

Another key to TIC interests: you can't vote on important things and bind other tenants in common.  Under IRS Rev. Proc. 2002-22, criterion 5:"any negotiation or renegotiation of indebtedness secured by a blanket lien, the hiring of any manager, or the negotiation of any management contract (or e...

Tenancy in Common is the latest way to use the 1031 tax-deferral strategy: you exchange ownership in the building you have for ownership as a Tenant In Common in a larger project.  One aspect of tenancies in common that has apparently escaped the notice of the eager promoters and interested inves...

It didn't pass.  But it has had effects anyway: fewer illegal immigrants are buying cars or making similar investments in their life in the US, for fear that it could be taken away.  This is anecdotal, talking to car dealerships and major appliance stores. Now comes the arithmetic: less spending ...

My biggest moment to listen closely is when I don't trust the other guy.  He hasn't signed an agreement with me yet, I'm just listening, making notes, and I don't like something without knowing why.  I will then be utterly open to their communications, mirroring and saying "Yes." -- they tell me ...