We offer various services: Business plan preparation for small businesses, SBA Loan Packaging, and arrangement of A-B commercial loans in 40 states. Sorry, no construction loans!
Get to know Charles G. Hennebeul
For more information on our Business Plan Consultation Services please visit www.rbiplan.com
Our new phone number is 631-656-3267. To weather the storm (ie the Mortgage Market Crash of 2007) I closed my office in 2005 which was located at 775 Park Avenue in Huntington. The two prior phone numbers, 631-368-1987 and 631-368-2219 are no longer held by the company.
You can email me at firstname.lastname@example.org or call me (Charles Hennebeul) direct at 631-656-3267.
Charles G. Hennebeul's Blog Posts
As a long term commercial broker we use situational/hard money loans as a lender of last resort. Make sure your broker works with A, B, C, D credit lenders and not just HARD Money! Very rarely do we take these deals since many hard money lenders are simply collecting due diligence fees of over $15,000 before ordering an MAI appraisal. There is nothing unethical about this because it is fully disclosed. Our company simply chooses to do other loan types (ie A-B credit) because many many hard money loan request are simply declined. My experience has led me to ne conclusion, an independent appraisal should be requested before a hard money lender request thousands of dollars from borrowers. I hear many stories from borrowers that the deal was declined due to the hard money lender deciding the sale price or curent market price is different than what the borrower stated on the application. Now the borrower is out $15,000 to $25,000 in due diligence fees. An commercial appraisal for a small deal typically cost $3,000 to $6,000 dollars (larger more complex property types will cost much more). Most smaller commercial buildings have appraisal cost of about $3000.
Commercial Construction Loans are almost dead. Lenders are rarely doing commercial construction loans. I discontinued mybuildingfunds.com website because lenders are cherry picking construction loans. Builders from NYC called me with $20 million loan request that nobody can close. I am a one man operation for now. These builders called me because the bankers they knew for ten, fifteen, twenty years are no longer lending to veteran builders with track records! Suddenly, receiving many loan request from borrowers with non-bankable loans started taking up way to much of my time. I believe and know one day this part of the market will come roaring back. Unlike other countries, our policy of bringing in legal immigrants fuels our housing industry and these immigrants have and will continue to buy commercial properties after years of running small businesses. Even if rates go up, and property values go down more, the side consequence is a set of new opportunities for buyers squeezed out of an overinflated market will exist.