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

Covid-19 be damned!

S. Clay Sparkman

Okay, so here we are. Halloween is just around the corner. (I wonder how that is going to work. One good thing: There should be plenty of masks.) But let me not deter my own intentions. So here we are: We’ve crawled through 7+ months of unanticipated and unpredictable Covid DMZs and war zones–sometimes battling fiercely at the front and other times hiding in the woods with all the patience we could amass. Our communication systems have held up to combat, but our problem is more with regard to what we communicate and who we communicate it to. There has been a great deal of chaos and confusion with regard to the command structure. In times of battle, we need to know our commander and listen intently and often solely to this commander, because generally we are just lone chess pieces lacking the ability to see the grand arena of war in its entirety (the chess board). Add to that an opponent unlike any we have battled in the current era. Maybe the last great battle of this sort was the Spanish flu in 1918, just over one hundred years ago. But it was different then (though somewhat the same), and things have changed in so many ways since then. No, this is an entirely new experience for those of us who are here now to deal with it.

What have we done? First we waited. We hunkered down and waited to see what would happen next and to avoid the initial onslaught. Then, having seemingly–after much struggle–gotten our attacker to retreat or at least brought them to somewhat of a draw, we mostly decided to abandon our jungle-cat strategies of hide and kill, and we began making plans to get back to something of an ordinary existence, though not entirely so: rather, revised, to greater or lesser degrees, to ward off the sneaky little Covids. And ultimately…this worked with varying degrees of success and then failed with varying degrees of failure–and it became clear to any coherent Sapien adult that this campaign was going to be significantly more difficult than any of us could have ever known. Where are we now? Sapiens are brave (if at not times foolish). I would say that we are getting on with our lives the best we can, taking measure frequently, and adjusting accordingly. But one thing is for sure. We can no longer just wait this bad boy out. A life spent hiding under the bedcovers…well frankly, this is not life at all.

And that, I suppose, is what this has to do with real estate projects and private money lending. (You knew I was going somewhere with this.) It is time to get on with what we do the best we can: live our lives and feed our families. If we deal in real estate, these are uncertain times, though thus far much less certain than I would have guessed six months previously. Markets are holding up–particularly in places like the Pacific NW. Prices are holding firm in places like Portland and Seattle, where demand for housing continues to greatly exceed supply. I believe that this may be an opportune time in these markets. If you buy, build, renovate, rent, and sell real estate, the opportunities may be now.

And we–at Fairfield Financial Services, Inc–are choosing to move forward with what we do, more fiercely perhaps than even pre-Covid. We are better conditioned now. We are alert! And we are ready to work twice as hard as we did previously (if that be the right thing to do). Let’s say that we all tend to get lazy when things are too good. Quite frankly we are not feeling the least bit lazy any more. We say, let’s go! We say, bring us your deals. We say, let’s get creative and make things happen together. What do you say?

What we do, of course, is help people (who do what you) to do what you do, and with greater command of your projects. We help you buy with confidence (knowing that the funds are there), and we make it possible for you to move your projects with greater velocity. In vaguely unpredictable markets, speed is your friend.

I hope you find this useful as a starting place to advance your own projects or to discuss these matters with your clients.

If you think we might be able to assist you, I recommend you ask. A few things to note: We tend to make small loans (under $750k). We make short-term loans (generally 1-2 years). Our rates are at an an all-time loan for us (operating in Oregon since 1964). We lend in the 8-11% range. We have no prepayment penalties (velocity). And we can move fast, particularly as we develop a solid working relationship (more velocity), with you understanding our needs and us understanding yours. Most of our clients are repeat clients (of many loans and projects) or repeat brokers who see us as their go-to Private Money Source.

We wish you all the best in your endeavors. (May Covid-19 be damned!)


– Clay Sparkman (clay@privatemoneysource.com, 503-476-2909)

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