Replies to post #51071 on Phoenix Associates Land Syndicate (fka PBLSQ)

[gunnar08034]

just, subprime in different clothing?

jmho
gunnar

[Mastercraft6]

Justalittle.. How's your son

doing.

Mc

[Renavatio]

22-26% wow. That's what I call criminal usury here in FL, though the general max usury rate is 25% here. I don't know any businesses that pay that on their debt. 15-17% max on private/hard money usually up to 4-6 points.

Hope they can convince folks to lend the bank that. Me, I won't go for 24% even over 2 years with PBLS. Even if it buys me a better Lear Jet.

[sawdin]

Hmmm, from acquiring high-risk/distressed companies to providing high risk loans to high-risk/distressed companies. I feel much better ;)

[tedwitt]

22% - 26% is pretty stiff.

[Jambamboo]

Just to give you another sample non PBLS expierence, I am from Jamaica and in 3rd world countries my family was putting money on deposit at making 50 percent return, literally your money would double in 2 years. Those who played it right made a fortune, one of my uncles put a million in and 2 years later 2 million came out and that paid for the family beach house. so 3rd world country economics are a different animal. You hae higher currency exchange rates, no formal credit bureau system, so in 3rd world countries you are lent on your name, no credit scores, just your business and your repuation on the island. If you introduced 12-13% money in Jamaica for instance you would have a line wrapped around the building, low interest rate auto loans are 16%. But enough of that that is a totally different animal with huge profit margins to be made. Say you borrow at 7% up here and then take it down and lend almost risk fee at 17-20% to the best borrowers in the country, you see how you can basically print money.