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02-21-2024, 04:16 AM #1
- Join Date
- Oct 2022
- Posts
- 281
WTF is prepaid Interest on a long term note!?!?
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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02-21-2024, 07:27 AM #2
- Join Date
- Feb 2017
- Posts
- 3,429
Elon, that's EXACTLY which is why I told him that it was fraud! That and the fact that he wasn't cash-flowing enough to justify a $20mm loan. He's profitable, but not like that. He told me "we did our due diligence and we're getting ready for the $20mm loan." Apparently being the director of NACLB gives you street cred.
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03-04-2024, 10:07 PM #3
- Join Date
- Oct 2022
- Posts
- 281
This is why I analyze the client's behavior as a risk metric before taking them on as a client. If they are 1) Ignorant in Finance 2) Stupid (Being kind in this case) 3) Emotional I have placed certain things in place to offset risk. It really sucks when you KNOW its fraud and they don't listen!!!!
I have learned over time that if they are willing to things like this it takes time away from you being productive, so I had my attorney draft up clauses in my contract to protect them from themselves.Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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