MMG Capital's Managing Director was recently published as an expert author on the private lending industry in The Scotsman Guide. The title of the article is 5 Steps to Presenting Deals to Private Lenders and provides mortgage brokers with some highly useful and relevant tips for positioning their clients to obtain funding from hard money lenders.
This article marks the third time that Chris Gleason has been published as an expert author in The Scotsman Guide. The publication is the leading nationwide resource for both residential and commercial brokers to obtain information about active lenders, new programs, changes in laws and regulations, and industry porotocol. To read the full article, you can either click on the widget below to be directed to the Scotsman Guide website where you will be able to read the article and the rest of the Scotsman Guide in your browser, or click the link below it to download a PDF copy of the article.
One of the most difficult things for a young company to do is to define itself. Sometimes it's easy to identify what product you're selling, what service you're providing or who you want to do business with, but it can be difficult to identify how you want to deliver your product, who your target customer is, or the parameters under which you're going to deliver business to your end consumer. As a result, it's often times difficult for a company to tell a consumer exactly who they are and why anyone should want to do business with them. Figuring out why they present a strategic advantage in the marketplace is something that generally takes time not only to discover but also to communicate.
The hard money lending industry is no different. We all know that the product every hard money lender is selling is money, but the circumstances surrounding any sale made in this industry can vary widely. Under what circumstances does a hard money lender allow a customer to borrow their capital? In what geographic regions are they willing to lend it? And what procedures will they follow in order to take a loan request and deliver it to the closing table? These aren't necessarilly easy answers to come up with and they're even more difficult to translate for mortgage brokers and borrowers, especially in an industry where professionals use conflicting terminology as if its synonymous and hard money lenders advertise information that isn't even necessarily accurate. How in the world does a hard money lender tell borrowers and mortgage brokers what it is that they do?
There's really only one answer: very generally.
Operating in the hard money lending industry is a mostly subjective task. What will fly on Tuesday won't necessarily fly on Thursday, and what worked this morning may not work this afternoon. That's just the way things are. Hard money lending doesn't fit into a Lender Matrix because hard money lending isn't about following a process. Hard money lending in 2011 is about finding customized solutions that will help borrowers achieve a goal. In almost all cases, that solution won't be found in an Excel spreadsheet.
So, with the understanding that we won't be able to provide you with every answer that you seek within the pages of the internet, we've revamped our website to do just what we suggested above - to give you a good idea of what it is that we can do for you or your client. We'll have to work out the details once we find out exactly what it is that you need, but for now we hope that we've given you enough information to get to understand our product a little bit better consider sending your next hard money loan request to MMG Capital.
The Better Business Bureau is an organization establishes to create an ethical marketplace where buyers and sellers can trust each other. It sets standards for marketplace trust, encourages and supports best practices, denounces substandard marketplace behavior. MMG Capital has now been a voluntary member of the Better Business Bureau for the past two years, giving its clients an open forum to report any conceived misgivings or unprofessional behavior by the company. While MMG Capital's company profile and rating have been reviewed hundreds of times, in a two year span there have been zero customer reviews and, more importantly, zero customer complaints.
When it comes to the Better Business Bureau, no news is apparently good news. Market research suggests that consumers are 10 times more likely to let you know when they're dissatisfied than when they're satisfied or even extremely happy with a product or service. This notion has paid dividends for MMG Capital who was recently upgraded to an A+ in the Better Business Bureau company rating system.
"We think it's important, especially in this industry and during these times, that consumers know what type of company they're dealing with and can feel comfortable knowing that, given the opportunity, other customers just like them were never given reason to be dissatisfied with the service we provide."
Investors are taking notice of the success that MMG Capital clients have had (See: The Year in Review: How Did We Do?). Others are also starting to take notice of the logic in our strategies. As a result, MMG Capital is receiving some decent press to start off the new year. The cover of Real Estate Wealth Magazine, a publication dedicated to helping accredited investors grow their wealth with real estate, will be graced with a feature on MMG Capital and how private lending is helping investors across the country realize double-digit returns utilizing safe, secured investing techniques.
MMG Capital's Managing Director, Chris Gleason, was interviewed in his home by Real Estate Wealth journalists and the result was a three-page feature story which you can access and read for free below. Should you like to have a hard copy of the magazine, simply give us a call and we'll be happy to send you one with our compliments.
We've come to realize that we were wrong when we assumed that all potential real estate investors wanted to be "house flippers" and "rental property owners." Now that they've seen that there's a better way to do things in this type of economy the response has been very positive. Private Lending and Secured Loans has changed investors entire outlook on what constitutes a "safe investment."
MMG Capital recently funded a $250,000 bridge loan secured by real estate in Sacramento, California. The loan is to be used for business purposes while the client waits for large-scale commercial financing to be put in place. The borrower was unable to obtain traditional financing because his business requires him to be out of the country for most of the year and to maintain a primary residence abroad. The real estate is also owned by a single-purpose LLC.
MMG Capital was able to approve the borrower for an asset-based loan coupled with a personal guarantee from the borrower, giving them the time that they need to get other financing in place or generate additional business revenues to pay off the MMG Capital Loan.
Due to the overwhelming number of requests that we've received for printed information on MMG Capital and our guidelines, we've decided that it's time to make some wishes come true. You can now request to have an MMG Capital Broker Information Kit mailed to you that includes information on the company, a convenient "Quick Guideline Card" and relevant industry news.
MMG Capital Broker Information Kits are being mailed to all new Preferred Broker sign-ups as of September 28th. If you've already signed up to become a Preferred Broker (you have if you're receiving this email), but you never had the opportunity to provide us with an address to send you an Information Kit, we want you to let us know!
To receive your copy of the Information Kit, please send an email to Debbie Gleason that includes your name and preferred address.
It may seem hard to believe, but it's true - hard money loans have just become more affordable. MMG Capital has lowered its rates and fees to levels that are extremely competitive with the marketplace, something that should be music to the earns of many mortgage brokers and borrowers.
MMG Capital has always been one of the more flexible, creative lenders in the industry and it's made the company a favorite for many hard money brokers. However, management has recently found that its efforts to raise capital have been outpacing their new fundings. So, as is typical with any supply and demand-driven product, pricing for new loans has been lowered to accomodate new fundings and to ensure that there is adequate product available for the company's private investors.
Be sure to visit our Terms and Pricing Page, along with the rest of our Products and Services pages to see our new available terms and better-defined guidlines.
MMG Capital recently funded a $375,000 bridge loan for an investment purchase in Nashville, Tennessee. The borrower is an investment group out of California that purchased this luxury home directly from the beneficiaries of the late owner's estate. An opportunity existed to purchase this property quickly at a discount and the group needed some additional cash to make the deal work. MMG Capital was able to approve a 12-month bridge loan for 50% of the purchase price with the borrower putting bringing in the other 50% as a down payment.
The group will make cosmetic improvements to the property as the previous owner had lived in the property for about 50 years and then either refinance out of the MMG Capital Bridge Loan, sell the property or raise additional capital from its investors to pay off the debt.
Franklin Pike Estate
Funded September 2010
12 Month Bridge Loan
12% Interest, 3 Points to Lender
MMG Capital is proud to announce that Linda Jalenak and Jalenak Accounting Services have joined the MMG Capital team to oversee internal accounting and reporting. Linda is a CPA with over 20 years of accounting experience and a Masters in Professional Accountancy (MPA). She has provided accounting services to firms in a variety of industries and is now going to be able to add private lending to her list. She is extremely adept at all accounting functions and will be charged with overseeing annual bookkeeping, as well as loan servicing and internal auditing. Linda, along with Chris Gleason, will share the responsibility of being a liason to investors, regulators and vendors that require information of an accounting nature from the firm.
We welcome Linda to the family and look forward to our relationship expanding with the growth of the company.
This past week MMG Capital has become one of the newest members of Manta, "the largest free source of information on small companies, helping business professionals promote their business, sell faster and make business connections." And although Manta is touted as a resource for business, it actually shapes up to be one of the largest and most comprehensive databases that consumers can use to gather information on small businesses. Currently, Manta claims to hold information for over 63 million small businesses worldwide. Some of the information that you can find listed on Manta include:
Contact Information
Website Information
Associations and Memberships
Similar Companies
Company Contacts
Employee Listings
Social Media Widgets and Links
Take a moment to browse the MMG Capital Manta listing by clicking the medallion below, and if you have time - create one for your small business!
Last week MMG Capital was recognized by one of its favorite vendors - UPrinting.com. As a part of a program that pays homage to independent entrepreneurs and small businesses that have shown an ability to innovate and create, Uprinting.com has written a feature article on MMG Capital, a three-year client of UPrinting.com, and published it on their website. Managing Director Chris Gleason sat down with the UPrinting.com staff and explained why the company's business model is so successful, and also how UPrinting.com products have helped to drive new customers to its small business landscape. For more information on UPrinting.com and to read the feature article on MMG Capital, click the UPrinting.com buttom below.
Increasing communication is a very important initiative at the MMG Capital offices in 2010. Mortgage brokers have originated over 85% of the private money loans that we have originated to date and we want to make sure that we thank you for your business by providing you with the necessary resources to close more private money deals. One of the most important steps that we've taken to make sure that we communicate with our brokers on a regular basis is to adopt various forms of social networking and electronic communication.
The MMG Capital Private Money Newsletter is one way that we send brokers the latest news from our offices, but unfortunately it's one of the most difficult ways to communicate. Between Spam filters, failed messages and full inboxes - email marketing is one of the trickiest electronic communication mediums to make work. In addition, a monthly newsletter doesn't nearly cover the scope of events and changes that occur in a 30 day timespan. Needless to say, we had to find something better.
The latest addition to our communication arsenal is the MMG Capital Private Money Linked In Group. Many brokers have already joined and connected with us, but we want to see it continue to grow to become one of the largest social networking resources for private money lending. The Private Money Lending Group isn't just for MMG Capital and its brokers - the Group is open to all private money lenders and mortgage industry service providers. As the group continues to grow, we hope that the diverse base of group members will lead to an increased level of participation, sharing and learning.
The Group Page will be updated on nearly a daily basis with relevant news from around the industry and discussions of topics that
are of special interest to private money brokers. You can even elect to have all activity from the group sent directly to your email inbox on a daily or weekly basis.
If you haven't already signed up to be a member of the MMG Capital Private Money Lending Linked In Group, click on the icon to the right to be taken direcly to the group sign up page. Or, search for "Private Money Lending" under the Groups tab on Linked In. We look forward to connecting with you and helping you increase your private money business in the second half of 2010!
Due to the overwhelming number of requests that we've received for printed information on MMG Capital and our guidelines, we've decided that it's time to make some wishes come true. You can now request to have an MMG Capital Broker Information Kit mailed to you that includes information on the company, a convenient "Quick Guideline Card" and relevant industry news. 
MMG Capital is proud to announce that Linda Jalenak and Jalenak Accounting Services have joined the MMG Capital team to oversee internal accounting and reporting. Linda is a CPA with over 20 years of accounting experience and a Masters in Professional Accountancy (MPA). She has provided accounting services to firms in a variety of industries and is now going to be able to add private lending to her list. She is extremely adept at all accounting functions and will be charged with overseeing annual bookkeeping, as well as loan servicing and internal auditing. Linda, along with Chris Gleason, will share the responsibility of being a liason to investors, regulators and vendors that require information of an accounting nature from the firm.
