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Aurum and Sharpe was founded in 2017 by me, Bryan Hanley, and one of my best friends, Rudy Renelique. After many years working at big banks like Chase, and Wells Fargo, we decided we could bring value to a mortgage market that was starving for independent thinkers. So we started Aurum and Sharpe over a phone call about financing a multi-family deal in Brooklyn. Since starting this business we’ve been on many adventures from financing a $20 million portfolio of single families, to meeting the President of Rwanda and Finance Minister of Namibia.
Rudy has gone on to start his own firm, Overture Capital, while I’ve stayed on to grow Aurum and Sharpe. Aurum is the original Latin word for gold (that’s why the periodic table has it listed at Au). We chose it because we think of our word as “as good as Gold.” And in that vein, we want to add value to every customer we come in contact with. Our promise is that by working with us, you will increase your Freedom, Purpose, and Fulfillment.
Our process includes learning your overall objectives and where you want to go in your life so that we make sure your financing enhances your life and gets you to your destination much faster. What that means though, is that we are not like every other broker on the street that will only do a surface level amount of learning about you, your life, and your motivations. For us, that is Gold. We want to learn how we can tailor your financing so that you thrive in your life! So before we talk about rates, terms, or anything else, we are going to try and figure out how to add value through financing.
We know this approach isn’t for everyone. But if this resonates with you, lets talk: 917 475 6207
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October 31, 2019
We’ve been nominated as The Best Mortgage Company in Brooklyn once again! We have been nominated for 2020, and 2021 We are very grateful to have great clients and great colleagues! Thank you again Best of Brooklyn! Mortgage Rates Calculate Your Monthly Payment
July 21, 2017
We at Aurum & Sharpe would be nothing without our clients, and your satisfaction with our service means the world to us. We are happy to announce that this year we have been nominated as The Best Mortgage Company in Brooklyn! It is so humbling to know that our hard work is appreciated, enough so to earn this nomination. Now we need your help to win! Here’s how to vote: Go to bestofbk.com and click ‘Vote Now.’ Select the ‘Services’ category on the left Scroll down and select ‘Mortgage Company’ Vote for ‘Bryan Hanley’! Votes are limited to one per category per day. Be sure to keep voting every day until August 4, 2017 to make sure your favorite businesses win the “Best of” title! Mortgage Rates Calculate Your Monthly Payment
July 21, 2017
Many property owners try to buy new property all the time. In most cases, this involves coming up with a hefty down payment. However, you can avoid having to organize hundreds of thousands of dollars in cash by buying a new building using equity in other properties you already have, a process called cross collateralization. The bank or lender would write a loan using both properties or a number of properties as collateral for the new property you’re buying. The lender then places a lien on all the properties being used as collateral, which includes the property you’re buying and the other properties you’re using as equity. Cross collateralization is uncommon, but it can be done. To qualify for this type of loan, you need to have significant equity in your other properties. Lenders that do this generally will allow […]
July 21, 2017
Not all commercial real estate lenders are created equal. Each lender has their own differences and peculiarities. When evaluating your income for loan purposes, some banks will take the debt service coverage ratio (DSCR) of just the property that you are financing. Others however, will take into account all of your other properties to arrive at what it’s called the global debt service coverage ratio. This can be troublesome for some borrowers. If they are just breaking even on one or a few properties, it could negatively affect them on another property they are trying to find. It is useful to get a sense of which lenders use the global debt service coverage ratio and which do not. Aurum & Sharpe has extent extensive experience in navigating the confusing lending environment. We evaluate whether your global debt service coverage ratio […]
July 21, 2017
If you’ve looked to finance a commercial property in the last 3 to 5 years, you know that banks are happier to say no then they are to say yes. In this environment, it is imperative that you know your options. The first and most important step to ensuring that your application will be approved is making sure that your loan officer puts together a winning loan package. The loan package describes who you are to the lenders. It needs to put your best foot forward as it explains your challenges in the most honest and accurate way. Banks and lenders will deny your loan on the slightest pretense of instability. Provided that you are qualified, as long as you follow the steps in this outline, your loan application should be successful. Step 1: Gather all your financial documentation and […]
July 21, 2017
Many business owners looking to finance multiple properties will do so with a cross-collateralization loan, which involves taking out a new loan using equity in properties they already have. Cross-collateralization loans are most commonly made by private lenders, and are enough to finance at least two properties at once. You can do the same thing with a bridge loan, which you may have heard of, however cross-collateralization loans don’t involve a balloon payment that needs to be paid back in 18 months like bridge loans do, making them an ideal choice for people who don’t want the extra pressure. Just as with any important financial decision, it is important to consider the benefits and drawbacks of a cross-collateralization loan before you decide to apply for one. This type of loan appeals to business owners who want a consistent, reliable source […]
July 21, 2017
The capitalization rate, or cap rate for short, is the rate of return on an investment property based on the amount of income it’s expected to generate in the present year. By calculating the cap rate of a property, you can see the potential rate of return on an investment. Compare the cap rates of multiple properties to see which one is the wisest investment. Calculating the cap rate The equation to manually calculate a cap rate is fairly simple. All you have to do is calculate the investment property’s net operating income (NOI) by subtracting the total operating expenses from the total operating revenue. Then, you divide the result by the value of the property. total operating revenue – total operating expenses = Net Operating Income (NOI) Net Operating Income (NOI) / value of property= Cap Rate Let’s […]
June 8, 2017
The internal rate of return (IRR) is a metric used by real estate professionals to determine the net money you’ve made on an investment by considering the timing and magnitude of the return. However, its main use is to compare investments. By calculating the IRR of many potential investments, you can see which one is wiser. The calculated IRRs must be higher than the company’s cost of capital, and whichever one is highest is the wiser investment (provided they have equal risk). The manual calculation for IRR is highly complex, and can only be solved through tedious trial and error. This equation is as complicated as it looks, and it’s only a three-year calculation. To solve it, you would have to keep testing potential IRRs until you get an NPV equal to zero. Your result would be the […]
June 8, 2017
Commercial mortgage lenders look at hundreds of loan applications each month. How can you make sure yours stands out? Many borrowers try to get a loan without first investigating what a lender might want to see on his application before approving the loan. These days, lenders are especially cautious because of the financial regulation environment, and of course, the elephant in the room, heavy losses from the recent recession. What lenders look for There are three things that the the lender looks for in general when evaluating loan scenarios. The first is credit. This can also be looked at as character. How is your credit? Are all your bills paid on time? And more importantly are all your bills related to real estate paid on time? One of the easiest ways to kill a deal is to have a […]
May 31, 2017
If you’re looking to obtain a loan to finance commercial property, one important metric you’ll need to provide your lender with is the DSCR, or debt service coverage ratio. The DSCR shows how well you will be able to repay the loan, and helps your lender determine the size of the loan. You can calculate it by dividing your business’s net operating income (NOI) by the total debt service. Debt Service Coverage Ratio (DSCR) = Net Operating Income (NOI) / total debt service A DSCR of 1.0 means that you’ll be able to pay back your loan with no wiggle room. Obviously, this is not ideal. The DSCR requirement varies by lender, loan type, and property type, but it will always be above 1.0 to provide a cushion in case something goes wrong. Calculating your NOI Your NOI is defined […]