Let me guess Elder. You have never closed on a Commercial loan in your life. Nor have you ever tried for one I'll speculate too.
I agree that an advance fee is not necessary. However I was just told that that is where are company is headed and it did not suprise me when he said it. Having looked personally at 6 different commercial deals and closed none of them I never thought twice about it when he mentioned it to me the other day. It is quite interesting in regards to our conversation though.
But hey Elder dont take my word for it try it yourself. Tomorrow on Monday do something simple....like an SBA backed business loan.... on say a bar with land and building attached to this business (tangible with the land) and report back to the board how easy it is. Don't necessarily use this example feel free to come up with any business loan that you want ....its simple right.
Being in the mortgage industry over a year now I can remember talking to a guy in the beginining that had been in 10 years say to me you never stop learning in this industry. Another line that my boss just said to me the other day that rings true with every deal was....you just never know where the turd is going to pop up..
Your line that I can easily find a bank that will loan a goodly sum of money as long as I have a and a solid business plan and they trust that I will be able to execute.
ElderWolf, I still can't figure out why NVEI couldn't just get a simple bank loan in the current low interest rate environment, with many banks anxious to make loans. I wonder if they even tried to go that route. If I get the opportunity, I'll ask Ketch about that. I also have a few questions about the Adaptive deal and MIDWEST AND LURKING'S group's interest in a buy-out. His comments should be most interesting. I'll probably have to wait out the "quiet period" in order to have any kind of chance to get some info.
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