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01-18-2018, 06:12 PM #1
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
Just a question
Saw a deal doing $20 million a month, first position, gets funded 300k 75 days.
Would anyone try to explain what the guy is thinking..?High risk paper
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01-18-2018, 06:20 PM #2
- Join Date
- Jul 2015
- Posts
- 1,202
Vegas trip under the radar.
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01-19-2018, 10:07 AM #3
- Join Date
- Oct 2016
- Posts
- 4,318
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01-19-2018, 10:15 AM #4Karen37aGuest
He may want to buy a boat and there is no boat financing and telling you he needs inventory...I've heard everything on the phone when I do my mini merchant calls.
I love when i hear "corp turnaround" and someone then backdoors me...after I warned them to kill the file.
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01-19-2018, 11:49 AM #5
I always laugh when I see Mohegan Sun, Borgata, or Las Vegas casino debits in a clients account - It helps me spark conversation about common interests. I even had one client who absolutely did not want a renewal - we tried so hard to sell it - I logged into his bank account and saw a $2MM check from Mohegan sun deposited LOL now he can start his own cash advance company!
Anthony Diamond
Underwriter
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01-18-2018, 06:46 PM #6
What kind of factor?
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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01-18-2018, 06:47 PM #7
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
1.4999
High risk paper
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01-18-2018, 09:09 PM #8
- Join Date
- Oct 2016
- Posts
- 4,318
The broker had no clue what they were doing.
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01-18-2018, 11:54 PM #9
- Join Date
- Oct 2015
- Posts
- 23
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01-19-2018, 12:26 AM #10
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
Not the first time I’ve seen this. God knows.
High risk paper
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01-19-2018, 02:24 AM #11
- Join Date
- Nov 2017
- Posts
- 153
Just a question
maybe the closer sold him on the refi . Once refi comes cut commission tremendously to lock in client... who knows.
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01-19-2018, 03:23 AM #12
- Join Date
- Jan 2018
- Posts
- 353
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01-19-2018, 08:41 AM #13
- Join Date
- Feb 2017
- Posts
- 157
He was looking to give his money away. Broker called him at the right time.
PDM Capital
39 Broadway
New York, NY 10006
Info@pdmcapital.com
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01-19-2018, 09:03 AM #14
- Join Date
- Jun 2015
- Posts
- 3,325
you are probably seeing the one guy who funded the wrong account. probably 10 others in some other account
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01-19-2018, 10:04 AM #15
- Join Date
- Oct 2016
- Posts
- 4,318
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01-19-2018, 09:47 AM #16
- Join Date
- Jun 2017
- Posts
- 2,049
Crack Cocaine?
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01-19-2018, 10:04 AM #17Karen37aGuest
Edit **
numerous positive and negative reasons.Last edited by Karen37a; 01-19-2018 at 11:22 AM.
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01-19-2018, 10:39 AM #18Karen37aGuest
The reason brokers are taught to wear a 5k suit..have a Rolex....mont blanc pen etc is so they can compete on this level from month 2
( millionaires)....Raise your expectations...see over the horizon...until you actually make it there.
This has seriously been a unique experience in dragging salespeople into the gutter holding on for dear life trying to stay positive.
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01-19-2018, 10:53 AM #19
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- Oct 2016
- Posts
- 4,318
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01-19-2018, 10:57 AM #20Karen37aGuest
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01-19-2018, 11:18 AM #21
probably just needed some quick money and doesn't give a f*ck, maybe even intends to pay it off soon for a discount.
when you have that much money you don't care about paying a vig to use someone else's money, if you can make a quick steep profit - or to just float you through a little down period.
most funders max out at 300k, most cant even handle that much without taking on syndication. so it's no surprises they didn't fund more. probably had to also do with the broker and their relationships - obviously they did not have the right connections to offer their client a more attractable funding.Anthony Diamond
Underwriter
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01-19-2018, 12:26 PM #22
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
Sometimes you need pure talent to fund a deal. When the bank is that fat I look at the bank account as a collateral .
High risk paper
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