What borrowers say........And What they really mean

1. I’m not going to pay any upfront fees.............I won’t pay for an appraisal, title report, survey, accountant to prepare financials or anything else required to have even an outside chance of getting a loan

2. I’m going to give you a shot at this loan...........because no other lender is even remotely interested in financing this property

3. My previous lender totally screwed me...........by expecting me to make the monthly payments and comply with the other contractural obligations I promised to do

4. I keep an attorney on retainer..............he’s the public defender that was assigned to me for my DWI

5. I anticipate the property will be at full occupancy early next year...............the property vacancy rate

is currently 70%

6. The principal tenant has indicated he wants to renew when his lease is up next year............he’s

already given his move out notice

7. The location is like a major European city............Berlin 1945

8. I only do non recourse loans.............I plan to cash out and disappear

9. The financials on the property show a tax loss...........the property hasn’t had positive cash flow

since the last year of the Bush Presidency

10. My credit score is okay...........480