[Olderguy]

Lender calls me who is in 9th position

Wedding venue with a $980,000 current mortgage

11 positions:

$424,000 in MCA advances

$233,000 a month in payments plus mortgage payment

Very difficult property. Acreage and liquidity issue

Got a hard money property loan - LOI for 50% LTV on estimated value of $3.6M would be a loan amount of $1.8 M

1% a month interest only payment would amount to $18,000 a month.

Pay off the mortgage of $980,000

Pay off all the MCA advances of $424,000

Leave $400,000 cash out for improvements and loan fees.

3% broker fee I split with broker/lender who sent it to me

[kpeng]

MCA's are not loans.

[Olderguy]

MCA's are not loans.

You miss the point completely...yes advances against receivables.

[Private Lenders]

11 positions! Geez louise - good thing they found you, but too bad not sooner!

Great creative strategy to get them outta that situation.

Kristina
Prosperity Financing
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Office: (800) 516-9082

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[omegafund]

lol now they want to use their property.

[Olderguy]

Good example why giving more than two MCA's should be outlawed.