Opening: "I'm Laura Munoz and welcome to Let's Talk Commercial Real Estate a newly created video blog covering topics of interest for commercial brokers and borrowers sponsored by American Life Financial. We'll be chatting with members of the real estate community asking them questions that you use submit on social media."
Laura Munoz: "Hi I'm Laura - and welcome back to Let's talk commercial real estate, today we have Scott Harmon visiting, welcome Scott"
Scott Harmon: "Thank You Laura"
Laura Munoz: "we're so happy to have you"
Scott Harmon: "thank you for having me it’s a pleasure to be here"
Laura Munoz: "I assumed that when a borrower comes to you they're already a little bit stressed they’re in a time crunch and they need this money.. they probably tried already conventional bank loans"
Scott Harmon: "absolutely"
Laura Munoz: "absolutely, so it’s great to have to have a lead account executive like you who's calm and can establish the relationship to put that stress level down a little bit."
Scott Harmon: "Yeah when people come to us it's usually a scenario where they're not in the best position financially… they've made some mistakes you know they've got some credit challenges maybe a bankruptcy you know maybe they've made a few bad decisions but typically they have a good standing with the collateral the property that they invested in or the business that they built around that property still looks good that's what we value so we work with that the other stuff can get a little hairy but we try to work around that okay so we focus on the property not so much the credit profile"
Laura Munoz: "great mm-hmm thank you for sitting here"
Scott Harmon: "Thank You Laura, I appreciate it, so it’s a wrap, cut the check !"
Closing: "Have topics or questions you'd like covered on let's talk commercial real estate? Or if you'd like to be a guest on Let's Talk Commercial Real Estate, please contact us at email@example.com. Like us, follow us and share us on social media."
Scott Harmon, former lead account executive at American Life Financial, speaks about the stress of the typical borrower and how a Not So Hard Money loan can alleviate it.