Terry Luker's Tools for Success Featured in Scotsman Guide's March 2024 Issue

Our founder and owner, Terry Luker, is passionate about being equipped with the tools you need to become a successful commercial lending broker. From professional development opportunities, extracurricular training sessions, and mentorship programs - there are several paths that a broker can take throughout their career in the industry. Taking the time investment to build on your foundation of knowledge throughout the year will enable you to stay ahead of industry changes and be highly knowledgeable in terms of economic shifts. Learn more about how Terry Luker has continued to stay at the forefront of the commercial lending industry and what he recommends to both rookie and seasoned brokers in today's climate. Check out his article in the March 2024 issue of the Scotsman Guide using the link below!

https://www.scotsmanguide.com/commercial/tools-for-success/


Taking a Deal to the Finish Line: A Marketer’s Perspective

Alternative Capital Solutions’ Marketing Director, Leah Runge Waldrop, was recently featured in Deal Maker Magazine’s latest issue. In this article, Leah was able to share her perspective on Marketing’s role when it comes to getting a across the finish line. Leah maps out the key areas to focus as a commercial lending broker – whether you’re just starting out or you’re a seasoned vet to the industry. Marketing should not be an overlooked role or department within your company, but instead one that should be strategically supported in order to grow your brand and your business – thus aiding you in the process of closing deals.

Here’s a quick snippet from the article:

“It will be difficult, to say the least, to get a deal off the starting line if the runner doesn’t know how you can help them get to the finish line – and at best, it will be an uphill race. At the end of the day, you must continue to tell your story and experience as a commercial loan broker to your current clients throughout the loan process. By utilizing the tactics from your marketing strategy to narrate the story and paint the picture, your clients will be reminded throughout the deal that you have the expertise and creativity to help them reach their goals.”

Read the article in full on Deal Maker Magazine’s website linked below!

https://www.dealmaker-magazine.com/magazine/taking-a-deal-to-the-finish-line-a-marketers-perspective


Why Site Visits Are a Must When It Comes to Working Your Deals

 When it comes to working through and closing a commercial loan deal there are numerous items that you must check-off your list, official documents to obtain, services to provide, and other administrative style tasks to complete.

However, a “must-do” activity that many commercial brokers and lenders may underestimate the value of is the official site visit. The site visit not only puts you face-to-face with your client – which can be especially beneficial if working with the client from out of area or out of state – but, it also allows you to take a proper assessment of the property, the surrounding area, and ensures a better understanding for what your client is trying to accomplish with the property and / or structures when obtaining the desired commercial loan.

Another thing to consider when working through a deal is that the commercial bank looking to fund the loan may also require photos of the property, structures, or building so that they, too, can better their understanding of the property and the borrower’s needs. Performing the site visit yourself will allow you to personally take the photographs as well as work through initial issues or hiccups that could potentially arise with the bank and/or lender – furthermore, it’ll build a strong relationship between you and your client as the deal becomes more personable.

With the ever-changing landscape of our nation’s economy, commercial banks and lenders are putting more scrutiny on the deals that come across their desks. The deal package you present will have an increased value to his competitors as you are strengthening your client’s story as well as decreasing the amount of legwork that your lender will have to do when it comes to finalizing the loan.

You have a site visit scheduled with your client…you may now be asking yourself, “what’s next?”

Here are a few tips for performing a site visit on a commercial investment property:

  • Schedule the visit during the day and ensure your client will be present. This will give you the best chance of seeing the property in its natural light as well as give you a better chance at contacting anyone who is involved with the deal and/or property.
  • Bring a checklist. This will help you make sure that you inspect all the important areas of the property. Yes – you will have a professional inspection of the property performed, however, inspecting those top checklist items will give you additional insight on the off chance that questions or other concerns may arise.
  • Take pictures! Photos will help you to remember the property as well as serve as a record for any problems you find. Photos will also not only aide you in closing this current deal, but they can also be excellent marketing resources for your business once the deal has closed and the loan has funded.
  • Ask questions. Now is your chance to build on your client relationship. Learning about the perks, concerns and information in relation to the property is much easier when discussed face-to-face.
  • Be prepared to walk away. If you are not comfortable with the property after the site visit, you should be prepared to walk away from the deal. While this is not always the outcome we want to arrive at, allowing yourself to walk away sooner rather than later can save you time and money opposed to walking away at the closing table.

Have questions about an upcoming site visit or want to know more about scheduling a site visit for an upcoming deal? Contact our team! We would love to work alongside you on a deal…or even be a sounding board for questions and ideas!

Submit your questions or deal inquiries via the contact form linked HERE.


Mentors That Last

Thank you to DealMaker Magazine for featuring Terry Luker's article, "Mentors That Last," in their latest issue. In the article, Terry champions the idea of mentorship and how everyone in our industry cannot only benefit from having a mentor, but how we can also build up the next generation of commercial lending brokers by mentoring to those who are new to this genre of lending. He also notes how this can be a revitalizing way to keep a pulse on new trends. "Working with young brokers keeps me on my toes and allows me to remember where we have come from as a company," says Terry Luker.

Terry also gives tribute to those who took the time to mentor him when building Alternative Capital Solutions 10 years ago. Terry can attest to the value and importance that mentorship can have on our successes as an individual and a professional. 

Read the article in full on DealMaker Magazine's website linked HERE. 


Our In-House Credit Team Has Two New Faces!

We are thrilled to have added Harrison Fuller and Gideon Goodmanson to our team of Credit Analysts earlier this year.

Harrison joined ACS as a member of our Credit Team in September of 2022 after spending two years in the hospitality industry. During a college study abroad program, he discovered how much he enjoyed working with and creating connections with a multitude of individuals. Harrison’s favorite aspect of his role as a Credit Analyst is building lasting relationships with clients and supporting them to accomplish their goals.

Gideon Goodmanson also joined our Credit Team as an Analyst in September of 2022.  He previously worked in the automotive industry as a salesman. Outside of his time at ACS he enjoys outdoor activities such as off-roading and skeet shooting.

Harrison and Gideon are both already off to a roll serving our clients and are looking forward to a busy 2023!