Who needs a loan sale advisor? Great question, as my attorney says of loan sales, “it’s not exactly rocket surgery.”  In addition there has never been more capital available for the purchase of distressed debt.  Problem banks with problem loans make the headlines in newspapers every day.  Bankers are inundated with calls from prospective loan buyers or “vultures” as my banker friends call them.

So “who” does need a loan advisor?

Not banks who are unconcerned about creating an arms length transaction;

Not sellers that personally know several hundred qualified buyers;

Not banks with workout departments experienced in file assimilation for due diligence; conversion of paper files to electronic files; development of relevant loan data spreadsheets; and creation of a marketable loan summary

Not sellers with special asset departments prepared to obtain confidentiality statements from scores of curious potential bidders; with sufficient staff to police the actions of those people receiving such confidential information; with the ability to evaluate and understand indicative bids, letters of intent, loan sale agreements, buy back provisions, eleventh hour re-trading and closing documents;

Not banks that have executive staff well versed in dealing with sophisticated loan buyers that have been involved in hundreds of millions, if not billions, of dollars in previous distressed loan purchases;

Not lenders that don’t have to answer to a board of directors regarding lender liability; did we get a “fair” price, much less the “best” price; do we have ongoing liability; who is this company or person that is now out collecting, or trying to collect, on our documents with our bank name plastered all over them;

And certainly NOT banks with a proven, written business plan in place of how they will price loans, market them efficiently, sell them without recourse and maximize their collection efforts.

Come to think of it “who needs a loan sale advisor?”

For More Information on Patrick Blount and Benewolf’s services visit Patrick’s blog here

For more info on Walt Arnold/Sperry Van Ness Visit my website www.waltarnold.com

Also be sure to check me out on Facebook and Twitter

Bob – Walt, as we head into springtime, are their some spring cleaning details commercial properties owners should be thinking about?

Walt – Good morning Bob, yes there are and it is a good time to think about some preventive maintenance items.  As the weather starts to warm up and with the time change it is time for maintenance and here are a few items to consider.

1.Check the timer for outside lighting so it is coming on and going off at the correct times.

2.Change batteries in any systems that require it, for example smoke detectors, backup batteries for lighting interior lighting and any other critical systems that require batteries.

3.Many events are scheduled throughout the year, but use the time change for fire inspection, alarm inspections, elevator inspections, and parking lot inspection for restriping or sealing.

4.It’s also time to service the refrigeration equipment for air conditioners and coolers for the upcoming warm up.  Make sure filters and evaporative coolers are serviced and for refrigerated air conditioning it is important to clean the coils and change the filters.  The systems will run much more efficiently with regular maintenance.

Bob – So the saying an ounce of prevention….

Walt – Yes it really is amazing, if an owner will spend a few dollars on periodic maintenance how much it will save in the long run. One area this is very evident is on roofs. During the spring and fall when we don’t get much rain it gives the roofer time to inspect the roof and do the preventative maintenance required. Maintaining roofs twice a year will save thousands of dollars over the life of the roof.  Don’t forget to inspect the roof or gutters for leaves or any debris that might clog up a roof drain or canale.

Bob – Anything else for us today?

Walt – I would like to mention that we manage almost 600,000 square feet of commercial space and if anyone is thinking about a need in commercial real estate property management services, give me a call and we can set up a meeting to discuss our services.

Bob, I also want to talk about some bank owned properties we are selling.  The first is 3701 San Mateo a 12,000 square foot office building for $1,200,000.  The second is 521 Rankin an industrial property just south of Comanche, west of I-25 7,800 sf for $544,000 and we also have a 3,000 square foot restaurant on Zuni just east of San Pedro.  Call me for details.

Bob – How can people reach you today?

Walt – Thanks Bob, call Walt Arnold with Sperry Van Ness, my direct line is 256-1255, website is waltarnold.com, you can also follow me on twitter @waltarnold. We know commercial real estate we do it all day, every day, and very well, give us a call.  Go Lobos.  Bob, have a great week!