Eagle Referral Partner Success Tips…
TIP ONE: Focus on profitable, high probability loans that close…
- 80% of commercial loans that close are multifamily and residential rental loans.
- Refinances and cash-outs 15 times more likely to close than purchases
- Owners are serious borrowers who want to:
- Cash-out
- Refinance maturing loans
- Find better terms
- Stabilize low occupancy properties
- Rehab rundown properties to qualify for long-term financing
- Purchasers often lack experience, liquidity, signed purchase agreements or commitment.
- Owners are serious borrowers who want to:
TIP TWO: Non-bankable borrowers need your help. Please click the blue links below for more information and likely terms about each loan program…
- Loans for Non-bankable Borrowers
- No Tax Return and Income Verification Loans
- Multifamily Hard Money Bridge Loans
- Commercial Hard Money Bridge Loans
- Immediate Solutions to Solve Urgent Financing Needs
- Loans to Payoff Tax Liens, Judgements or Avoid Foreclosure & Short Sales
- 5 Day Funding | No Appraisal | No Tax Returns | No Minimum Credit Score
- 10 Day Close Hard Money Bridge Loans
- Quick Cash Without Refinancing Your Mortgage
- Cash-out Partial Ownership of Commercial Real Estate
- Land Development Loans
TIP THREE: Better Terms Available for Your FHA-HUD Multifamily Loans? | Free Analysis with Property Addresses: Better Terms for Your FHA-HUD Multifamily Loans?| Free Analysis with Property Addresses
TIP FOUR: Don’t waste time with:
- Property types not listed on loan program links
- Rural properties
- Loan amounts below our minimums
- Loans we don’t fund
- Shoppers
- People who don’t:
- Return your phone calls, emails and texts
- Return loan docs and underwriting items
- Meet loan program requirements
- In the “Gambler”, Kenny Rogers sang: “you have to know when to hold them, know when to fold them, know when to walk away and know when to run.”
- Avoid low probability loans unlikely to close. You only earn referral fees for loans that close.
TIP FIVE: Ask your clients, referral sources and prospects for completed Eagle REO schedule (Real Estate Owned)
- Confirms borrower experience
- Potential list of other properties to refi or cash-out
- Offer free analysis of FHA-HUD multifamily loans; all we need are property addresses
TIP SIX: Avoid these property types:
- Rural
- Properties outside the 50 USA States
- Restaurants
- Bed and breakfasts
- Hotels
- Entertainment venues
- Resorts
- Big box retail
- Shopping malls
- Hair salons
- Gyms
- Camp grounds and RV parks
- Owner occupied residential
- Vacant or low occupancy properties
- Tenants not current with their rents or hurt by the pandemic…
TIP EIGHT: Your closing rate won’t exceed 30%. You must be working with 25 high probability loan requests at all times. Do you have 18 loans in underwriting right now?
TIP NINE: How to find more information and likely terms about our loan programs:
- Go to www.eaglecfs.com
- Find the white drop down boxes near top of website homepage (Residential Rental, Multifamily, Commercial, Refinance & Cash-Out, Rehab & Construction, Hard Money Bridge and Eagle Referral Partner Program)
- Links below drop boxes give more information and likely terms for each of our loan programs. Use these links to better understand what you can now offer your borrowers. Direct borrowers to www.eaglecfs.com or email them relevant links.
- All links provide current information.
TIP TEN: Become an Approved Eagle Referral Partner: To get started click the blue Eagle Referral Partner Program Link. It will take you less than 6 minutes to complete. There are no fees or credit cards required. Your Eagle Referral Partner Agreement will be emailed within 48 business hours.
