Fairfield Financial Services, Inc. - Private Money Loans, Lending & Borrowing

Submiting loans

Sample loan

Tuesday, October 23rd, 2018

Clay Sparkman
Here is an example of a loan that we recently placed. We like to give samples from time to time.  Not only does this give borrowers and brokers a better idea of the kinds of things that we do, but it also gives them a nice working format for presenting new loans.

Kristopher Gillmore
Fairfield Financial [...]

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Rehab and construction loan FAQ (revised) – a blog

Thursday, December 15th, 2016

Clay Sparkman
Here is an updated version of Fairfield’s Rehab and Construction Loan FAQ.
One of the most promising areas, at the moment, for real estate investors and brokers, by all indications, is REO, rehab, and quick flip of properties. The opportunity to buy distressed properties at a low price point is evident in many markets.  And yet [...]

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The art of the summary

Tuesday, July 5th, 2016

Clay Sparkman
The Art of the Summary
Between phone calls, emails, and on-line submissions, we receive a tremendous number of loan requests. It’s pretty common for these loans to have tight deadlines, so here are three ways to speed up the process.
1)      Use the on-line proposal form and provide all the applicable information.  This form can be accessed [...]

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Fairfield Financial – rehab and construction loans

Wednesday, March 26th, 2014

Clay Sparkman

As a follow up to my recent posting (Fairfield Financial – getting to know us), I am posting a similar resource, but one that is dedicated solely to rehab and construction loans. Since this is our sweet spot, I thought it would be appropriate to share this as well.
We work with many real [...]

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Fairfield Financial – getting to know us

Thursday, March 20th, 2014

Clay Sparkman
I am often asked to give potential brokers or borrowers a run-down on Fairfield Financial. What kinds of loans do we do? What is our process? What is our tme-line? what are our terms? That kind of thing. Verbally it takes a good hour to cover all the basics, so we at Fairfield have [...]

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Are hard money loans worth the hassle?

Thursday, January 23rd, 2014

Clay Sparkman
I apologize for being so long between blog posts as of late. I was in Chile, with my family during the holiday, and I can tell you: it is hard to think of interesting blog posts when it is 80 degrees and sunny every day.
I came across the following post by Brian Cline. It [...]

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Private money – another perspective

Thursday, August 22nd, 2013

Clay Sparkman
I thought this was a nice piece on private money and finding sources, by Brian Kline.
How to find Money Partners for Real Estate Investing
As the real estate markets are improving, the opportunities revealing themselves, and the bank rates coming up–it seems like private money is becoming, once again, more relevant ever day that passes.
Let [...]

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Loan sits on desk: how the heck do I place it?

Thursday, April 18th, 2013

Clay Sparkman
If you are having trouble finding the ever elusive lenders that you need for your particular client transactions and projects, a web based tool known as Lendicom.com may be of interest to you.  The site is geared toward commercial lending (including construction, project, and development loans), and allows borrowers and brokers to sign up [...]

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Loans we are placing – example

Monday, April 8th, 2013

S. Clay Sparkman
Every now and then I like to present one of the loans that we have placed or are in the process of placing, so that blog readers can see (a) the types of loans that we are placing, and (b) how we feel that loans should be presented. Keep in [...]

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Fairfield private money loans – we love to work with brokers

Tuesday, April 2nd, 2013

Clay Sparkman
Fairfield Financial works hard to establish good working relationships with Loan Brokers. Though we do work directly with borrowers, we push toward being more of a wholesaler, and emphasize building relationships with professionals who can help their clients understand when private money might be an appropriate option to pursue. We will work with brokers [...]

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How to read an appraisal

Tuesday, March 26th, 2013

Clay Sparkman
This article was originally published, on this blog, on 8/9/10. 2 ½ years later, I feel it is worthy to be modified slightly and published again. Whatever you do in the real estate business, I highly recommend that you give this post a good read.
The most important thing that you must understand about any [...]

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What exactly do you want me to do for you?

Monday, March 11th, 2013

Clay Sparkman
When evaluating loan requests, this is the fundamental question:  what exactly do you want me to do for you? It is impossible to count the number of times that I have receive loan packets or proposals that didn’t include a loan summary or any clear description of the request.  The process of evaluating a [...]

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Private Money FAQ

Monday, January 7th, 2013

Clay Sparkman
I try to update and publish this FAQ every once in awhile, as it is a handy guide to better understanding the market for private money loans in general–and more particularly, how we operate here at FFS, by way of example.

Private money is often misunderstood. Many industry professionals know very little about [...]

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The kinds of things we are doing – an example

Tuesday, December 4th, 2012

Clay Sparkman
From time to time, I like to publish the prospectus for a loan that we have placed. I do this for two reasons. One: so you can get an idea of the kinds of loans that we do, and two: so you can see how a nice tight loan presentation should look.
The prospectus which [...]

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Getting high quality loan submissions that fit your programs via Lendicom

Thursday, October 11th, 2012

Clay Sparkman
If you are a broker or borrower of real estate secured commercial money, Lendicom may be of particular interest to you. This site is geared toward commercial lending, and allows borrowers and brokers to sign up and submit specific loan proposals to lenders who have also signed up online.
Presently we have a database of 200+ [...]

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A private money loan prospectus – Hood Canal, Washington

Monday, September 24th, 2012

Clay Sparkman
(In October of 2011, I posted this item on my Private Money Investor blog. I thought it might be useful to brokers as well—the idea being so that you may (a) see how we present loans to our internal working investors, (b) gain perspective on our entire private money loan process, from start to [...]

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The Doc List

Tuesday, June 19th, 2012

Clay Sparkman

On several occasions, I’ve discussed the importance of a good loan summary. A good loan summary is fairly crucial, as you approach us with a new loan request, as it speeds up the approval process (or denial) to a surprisingly significant degree.
Given that, it seems logical to discuss how to speed up the rest [...]

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No yesterday might mean Yes today

Saturday, June 2nd, 2012

Clay Sparkman
Private lending is a constantly changing business. The factors that drive the types of loans that we can do are as varied as the structure of the deals themselves. That’s why, despite the fact that we may have turned something down in the past, it never hurts to ask again.
We are based in Portland, [...]

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More time left for you

Thursday, April 19th, 2012

Clay Sparkman

As I’m sure most of you will agree, it takes more contacts to get a loan done these days. Lenders are more selective and an increased number of borrowers are turning to hard money. More borrowers are talking to brokers, and then brokers have to talk to more lenders to find funding. The end [...]

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Make your borrower’s projects and submissions More robust

Monday, March 26th, 2012

Clay Sparkman

In the current climate, it’s getting harder than ever to impress potential lenders with your client’s loan scenarios. It may be that times have changed permanently and that it will be years before lenders return to their pre-2007 comfort level. Until then I thought I would make some suggestions to help you to re-think [...]

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