Ep 22: Lending Insights with Jeremy Nussbaum and Ralph Wurzburger
Today we have Jeremy Nussbaum and Ralph Wurzburger joining us to talk about debt and lending. As childhood friends, Jeremy and Ralph linked up professionally and now work at Walker and Dunlop. Before this, they were at Deerwood Capital which Walker and Dunlop then acquired. We have worked with Jeremy and Ralph and they have now done a lot of our debt. They deep-dive into many debt-related topics like why every lending agency claims to be the best on the planet and how to spot lenders that truly stand out from the crowd. They also stress the importance of creating relationships and explain why one of their primary responsibilities is fielding questions and being available.
Real estate can make you money but it is by no means a short-term game, so put time and effort into creating enduring relationships with everyone, including your broker. Without open channels of communication, there is no way a deal can succeed. Along with this, they shed light on the advantages of using brokers, despite the additional fee that may deter some borrowers. Trust us, if you find the right lender, the fee is well worth it. Jeremy and Ralph also debunk some of the most common debt world myths and replace them with solid, well-founded truths. To hear this and much more, join us today!
Key Points From This Episode:
How Ralph managed to secure John as a client after three years of persistence.
The importance of good relationships and why trust is key when deciding on a lender.
Jeremy and Ralph’s backgrounds and how they came to Walker and Dunlop.
The deals and asset types that Jeremy and Ralph specialize in at Walker and Dunlop.
The reason that all lenders claim to be the best and how to spot a truly great one.
Lenders offer different conditions based on relationships with agencies and underwriting.
A brief overview of how the process works when taking a deal to a lender.
Tips on how to find the most capable lender and one that suits your needs.
Brokers compile substantial information on the borrower that’s not seen on the front-end.
Learn why quality information is crucial to getting deals to go through.
Discover some of the great benefits of using brokers and how they increase your efficiency.
Examples of how Jeremy and Ralph have managed to get better deals for their clients.
Find out what happens once the lender goes to market and what the borrower then receives.
Frequent mistakes lenders see owners making and some streamlining tips to avoid them.
What lenders do to ensure they are covered even if a deal goes belly up.
Some of the common misconceptions in the debt lending world.
An explanation of tiers and their different applications.
Why it is so important to bring the right people into the deal sooner rather than later.
You are paying for the work that is done behind the scenes in the client service industry.
There are differentiations even within the lending industry so make them work for you!
Have a game plan of what happens in the event of a fall-out.
Thoughts on the trajectory of the debt industry in light of the current market cycle.
“We really play in all aspects of the debt in terms of lender type.” — @ralphwurz [0:09:43]
“You can always find something you are number one in.” — Jeremy Nussbaum [0:12:07]
“Once a deal is submitted to Fannie or Freddie, lock the door. It’s over. They’re locked into that quote.” — Jeremy Nussbaum [0:14:52]
“Information makes people comfortable. But quality information.” — Jeremy Nussbaum [0:23:38]
“Figure out what is ultimately most important to you and then try to, within that realm, make sure that you go to a lender you trust implicitly to finish off.” — Jeremy Nussbaum [0:34:27]
“The most important thing between a broker and a client is communication.” — Jeremy Nussbaum [0:35:19]
“If your debt is making your deal great, that’s a problem.” — Jeremy Nussbaum [1:02:22]
Links Mentioned in Today’s Episode:
Jeremy Nussbaum on LinkedIn — https://www.linkedin.com/in/jeremy-nussbaum-29332234/
Ralph Wurzburger on LinkedIn — https://www.linkedin.com/in/ralph-wurzburger-b3556389/
Ralph Wurzburger on Twitter https://twitter.com/ralphwurz
Walker and Dunlop — https://www.walkerdunlop.com/
Meridian Capital — https://www.meridiancapital.com/
Deerwood Real Estate Capital — https://www.linkedin.com/company/deerwood-real-estate-capital/about/
Arbor — https://arbor.com/
John Cohen on LinkedIn — https://www.linkedin.com/in/john-cohen-56847314/
Chris Grenzig on LinkedIn — https://www.linkedin.com/in/chris-grenzig/
JC Property Group — http://www.jcpropertygroupinc.com/
Toro Real Estate Partners — http://tororep.com/
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