BLN Software

50th Private Lending Pitbull Conference

Bridge Loan Network is attending and exhibiting at the upcoming 50^th National Private Lending Pitbull Conference in Arizona. The Pitbull Conference which is taking place October 27^th through 28^th at the Fairmont Scottsdale Princess is the oldest and largest organization of its kind in the country. Their mission is to educate brokers, lenders, and investors on the emerging opportunities that exist in the hard money lending space.

The agenda for the Pitbull Conference is filled with compelling sessions from hard money industry experts. In addition to the mix of educational sessions, there will be numerous opportunities for networking with other attendees and the awesome exhibitors, such as Bridge Loan Network.

“The Pitbull Conferences are the best shows of the year for us,” says Bridge Loan Network’s President of Operations, Jonathan Allen. “These events are essential for us as a private lending software company, to be able to network with the attendees as well as other exhibitors is invaluable.”

Be sure to visit the Bridge Loan Network team at the show.

For more details on the Pitbull Conference, click here.

National Alliance of Commercial Loan Brokers (NACLB) Conference

Bridge Loan Network is attending the National Alliance of Commercial Loan Brokers (NACLB) Conference in Las Vegas. The NACLB Conference which is taking place October 4^th through October 6^th at the Westin Lake Las Vegas Resort & Spa.

This NACLB annual conference will provide education and networking between brokers lenders and service providers. The agenda for the NACLB Conference is filled with compelling panel discussions featuring the top industry experts. In addition to the mix of educational sessions, there will be numerous opportunities for networking with exhibitors and other attendees, such as Bridge Loan Network.

ATTENDEE BENEFITS

Maximize earning potential by meeting the top broker-focused lenders and service providers
Panel, general session, and over 16 individual class room style breakout sessions
Over $75,000 in cash, prizes and gifts for various top producer and door prices
Network with fellow brokers and reunite with CCTG training colleagues

If you’d like to schedule a time to meet with our Bridge Loan Network Account Manager, Jacob Therrien at the conference, please email us at marketing@bridgeloannetwork.com.

For more details on the NACLB Conference, click here.

Crosspoint Realty Group

“As Private Money Brokers we have clients that invest in their businesses, residential and commercial properties and we use the BLN network and software to help us serve the needs of our borrowers. It’s simple to use when a potential borrower comes to the website and takes less than 5 minutes for loan entry. We love how the software organizes all the parts of the loan request which helps us stay on top of the transaction as it progresses from one stage to the next. You listened to our feedback and I am happy to see implementation from the last upgrade that’s made it even better. Your customer service is some of the best I’ve experienced both in communications by phone and email. A special star for Jacob Therrien for all his support. Keep up the great work.”

– Crosspoint Realty Group

Liberty Funding

“Bridge Loan Network has been providing our company with excellent leads for years. Their web portal provides an easy access to leads as well as a tracking system for expedited closings. Proud to be a member of Bridge Loan Network and we will continue to work with them to provide loans for their clients.”

– Liberty Funding

Importance of Having a Company Website

In today’s digital marketing world, businesses need to have a presence online, especially a company website. Your company’s website serves as a “home base” where new and existing customers can go to learn more about the different products or services you offer.

A company website is also extremely important for content marketing. Your content needs a place to live. Whether it’s blog posts, product descriptions or customer testimonials, you need a home to display information so that current and prospective customers can find it and access it easily.

Here are some other benefits of having a company website.

Cost-Effective Marketing

Having a company website allows you to expand your online presence and the ability to develop a digital marketing strategy, with little to no costs involved beyond the initial website hosting and development. For instance, if your company is using email marketing to engage with potential and current clients, then you need a place to direct these clients to convert them. Your company website is the perfect place to send your email subscribers to when you want them to learn more about your company, and the specific products or services you offer.

Additionally, if your company is interested in running, Pay Per Click (PPC) campaigns, then you will need a “home base” to send clients. PPC campaigns are an excellent way to reach potential clients who are already more likely to be interested in your products or services since they are searching with keywords. But to run PPC campaigns you will need to have a website that you can lead these clients to when they click on your ad.

Overall, you’ll know exactly how much your website will cost, and you’ll be able to easily factor that into your overall return on investment for having an online presence.

Visibility & Credibility

Increasing the visibility and credibility of your company are major factors that make it extremely important to have a website. Even if folks have seen your company at industry conferences or networking events, they may want to conduct their own research online before working with you. Additionally, websites give your business added credibility. In today’s digital world, companies without websites are viewed as less credible and can make people wary to work with you.

In addition to showcasing your products and services available online, to help build your company’s credibility online you can also highlight why people should work with you. Provide client testimonials and your company’s mission statement. By helping your clients get to know what your company is all about, you are working on establishing a level of trust with them which is the first step into building long-lasting client relationships.

Convenience

Websites are available and accessible consistently throughout the day, every day, providing convenience to anyone looking for more information. Current and potential clients can visit your site for support and information anytime that is convenient for them, which can also be outside normal work hours for your business. This means even after you’ve gone home for the day, your website can still help convert new clients.

The bottom line is, every business should have a company website. Additionally, creating a company website doesn’t have to be hard. There are a variety of website building services that you can use to design your company website in a short amount of time.

Geraci’s 2019 Captivate Conference

Bridge Loan Network is attending Geraci’s upcoming Captivate Conference in Las Vegas. The Captivate Conference which is taking place August 21^st through 23^rd at the Cosmopolitan Hotel will aim to connect lenders and investors and highlight the tools needed to grow your business.

The agenda for the Captivate Conference is filled with compelling panel discussions featuring the top industry experts. In addition to the mix of educational sessions, there will be numerous opportunities for networking with exhibitors and other attendees, such as Bridge Loan Network.

Bridge Loan Network’s Account Manager, Jacob Therrien, has also been nominated for the Innovate Impact Award. This award recognizes a product/service that has led to success through innovation and technology. We’re honored to be nominated alongside the incredible nominated innovators in our industry!

If you’d like to schedule a time to meet with our Bridge Loan Network Account Manager, Jacob Therrien at the conference, please email us at marketing@bridgeloannetwork.com.

For more details on the Captivate Conference, click here.

Lend Some Money

“Bridge Loan Network has been a game changer for my company. The software is modern and user friendly helping me stay organized and work more efficiently, therefore allowing me to focus more time on growing my business and follow up with clients. My clients enjoy having the ability to go into their loan files and submit documents, message with their loan officer, and watch the file progress in one safe and secure place. The BLN team has also delivered service at the speed my clients expect of me and I couldn’t be happier. Thank you to the whole Bridge Loan Network Team.”

– Lend Some Money, LLC

Everest Business Capital

“I have had the pleasure of working with Jacob from Bridge Loan Network. He works very hard at helping me to find a home for my clients who need a loan for Real Estate Investing purposes. I would highly recommend his company to any who is a lender in the Real Estate Investor Market.”

– Everest Business Capital

The Importance of Appraisals in Private Lending

Appraisals are a crucial step in the investment real estate industry and most private and hard money lenders require investors to have a completed appraisal done, before moving forward to underwriting and closing.

To ensure all our customers, including lenders, brokers and investors, receive the best customer service and quick turn times with their appraisal ordering, Bridge Loan Network has partnered with the nationwide appraisal management company, Appraisal Nation. Bridge Loan Network customers can now order appraisal reports directly in their lending portal and then have the completed report automatically uploaded into the system.

Before discussing more about how our integration with Appraisal Nation is a valuable add-on for our customers, it’s important to understand why appraisals are a vital step in the lending process.

There are three main sections of the appraisal report we’re going to discuss in this article, the As-Is Value, the After-Repair Value, and Comparable Properties, to help you gain a better understanding of the reports for yourself and your customers.

The As-Is Value

When an appraisal is being completed the appraiser examines the properties As-Is Value, which is the value the property is worth in its standing condition now, with no renovations completed. This value is an important factor for the lenders and may impact their decision to close the loan. If a property’s value is low, for instance, $10k, then some lender’s may choose to not lend on that property as it is below their minimum loan amount.

The After-Repair Value

If the property has any type of rehab work needed, then the appraiser will also take into consideration the borrower’s rehab budget to determine the After-Repair Value (ARV) of the property. The ARV on the appraisal will tell the lender what the distressed property is expected to be worth after all the renovations on the rehab list are completed. ARV is often valued by both lenders and borrowers to ensure the project is lucrative enough for all parties, and each will see a return-on-investment.

Comparable Properties

Comparable properties are another aspect of an appraisal that is crucial to evaluating the value of the property in both its As-Is state and its After-Repair Value state. The appraiser will look at similar properties in the immediate surrounding area and compare the value of those properties to the value of the subject property. If there are no similar properties in the surrounding area, this could dictate that the property is in a rural area, which some private lenders tend to avoid.

Overall, in the private money industry, time is one of the most valuable assets. Our integration with Appraisal Nation saves your company time by streamlining the entire appraisal process. Simply place an order in the Bridge Loan Network software and Appraisal Nation will take care of the rest. Utilizing their nationwide network, your request will be assigned to a certified appraiser promptly.

After the appraisal is scheduled, Appraisal Nation’s Client Service team will continue to work with the appraiser until the report on the property is finished. Once the report is complete, Appraisal Nation has their in-house appraisers review the to ensure all fields are complete, and then the report is uploaded into the Bridge Loan Network software. The Bridge Loan Network software keeps all loan documents in one secure location for all members of the transaction, streamlining the lending process.

Marketing Your Rental Property to Millennials, Here’s What You Should Know

If there was ever a model generation for landlords to have in their rentals, millennials would be that generation. Born in the 1980s to the 2000s, the millennial generation has far outnumbered other generations, such as the Baby Boomers, and while the Baby Boomers have recovered from the Recession of the 2000’s, the millennial generation has not. With higher ratios of student debts and a competitive job market, millennials are not jumping into home-ownership but instead looking to rent for longer periods. This makes the millennial generation the perfect target to market your rental property towards.

Before setting up the listing or adding new repairs to the property it’s important to understand exactly who the millennial generation is and what they are looking for in a home.

Who Are Millennials?

Millennials will account for 75% of the workforce by 2025.
94% of millennials use the internet and online sites to search for a home.
Millennials are more likely to stay with their current employer for 3 to 6 years, compared to employer duration from Generation X at the same age.
By 2020 one in three adults will be considered a millennial.

Millennials have the ability to shape the rental market due to the huge percentage of current applicants looking for a rental, and this trend doesn’t look like it is going to change anytime soon.

What Do Millennials Look for in a Rental?

1. Proximity to Work

With the millennial generation holding their current jobs longer than previous generations they are less concerned with great school systems or quiet neighborhoods and more concerned with their commute to work. When listing the rental include information about train station, bus routes, highway systems and main roads.

2. Environmentally Friendly

The millennial generation is also more conscious of the environment and going green. When renovating the rental property be mindful to add in green features such as energy efficient appliances in the kitchen and laundry room, energy-saving lightbulbs, low flow toilets and water-saving showerheads. These can be small updates but make a huge difference when it comes to the environment and cost-cutting on utility bills which is why this is appealing to millennials.

3. Acceptance of Pets

More than 3/4 of millennials are pet owners, and by limiting a rental to only those without a pet you are drastically reducing your pool of ideal tenants. Speaking from experience, one out of every three apartments I looked at was not pet-friendly, therefore I was willing to pay more to find that one apartment that would allow my pet to live with me. There are also certain ways to protect your rental as well with the addition of “pet rent” fees and security deposits.

How to Reach Millennials

The first-place millennials will look for a new rental is online so it’s important that you have a website and online listing for the home.

The rental listing should include:

Monthly rent.
Security deposit cost.
Quality pictures of each room, outdoor space and exterior.
Pet policy.
Room count, including bedrooms and bathrooms.
Amenities including the energy efficient appliances, and green upgrades.
Location of property in relation to roadways, nightlife, and other venues.

It will also be beneficial to ask previous renters for reviews to place on your website as well because reviews and ratings are effective indicators of quality for the internet-savvy millennial users.

The millennial generation is important to the rental market since they are a hold a significant percentage of the current applicants and the trend toward renting over home ownership doesn’t look to be changing anytime soon. If you can ensure that your rental property fits into what millennials are looking for then you will find that vacancy issues with no longer something to worry about.

If you’re looking to buy and hold another rental property, Bridge Loan Network is here to help you find the financing you need.

Submit a free inquiry and the opportunity will be matched with our qualified and approved hard money lenders.

The simple application portal digitizes the lending process enabling brokers and borrowers to upload needed documents, authorize credit checks and have a full loan package for our lenders to review. Apply now!