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08-17-2023, 02:29 PM #1
Fun times with the Brokers Nightmare Part 3
Alrighty then, this one made my day!
Deal hits my desk, gave it a large offer. When I see the Iso that is on the deal, I immediately tell myself "f@ck my life, not these guys".
I review the financials provided, 6 figure avg per month, everyday retail business.
I see a MTD is provided...... I see ZERO deposits halfway through the month.
It's retail, brick and motor location.....wtf is going on???
I say to myself, lets check on Ask Jeeves to see what going on, I type the name of the business and the first suggestion that pops up is "Name of business" tragic fire.
Yeah, you guest it. Business is closed due to a fire in July......
What in gods name am I suppose to do here?
And of course the ISO asks me "Is there any way around it?"
This is the story of my life...... I hope you enjoyThe Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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08-17-2023, 02:39 PM #2
You rescind offer that's what you do lol One of the first deals I ever funded in this industry was a 25k grocery store. It burned down a week later. Thank your lucky starts this place burned down before you funded it. I hope this particular merchant bounces back, mine was clearly an insurance job.
Jamie Schiff
I'm Not a Fan of Titles
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08-17-2023, 02:40 PM #3
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08-17-2023, 02:44 PM #4
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08-17-2023, 02:51 PM #5
Do a real estate rehab loan.
Seriously.Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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08-17-2023, 02:55 PM #6
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