All Forum Posts by: John Thao
John Thao has started 10 posts and replied 24 times.
Post: Checking on Blue Giant Finance (IL)
- Posts 29
- Votes 2
Quote from @Susan V.:
Has anyone here done business with is this company? Private lending
Susan have you found out if they're legit I was contacted by them when looking for a PML yesterday. Thier email came thru my spam box.
Quote from @Doug Smith:
No way. First of all, "This loan calculation" is not a term that we use. They seem to be saying it's a single-pay note, or a "One-Pay", but the wording is sketchy. The kicker, however, is when they get to the 2% rate. Ask yourself this...the 10-Year US Treasury is trading at 4.060% right now. If you are an investor and the "risk free rate of return" is 4.060%, why in Heaven's name would you do a riskier loan at less than what you are pretty much 100% assured of getting your money back? No way this is real...SCAM ALERT!!!
Quote from @Chris Seveney:
@John Thao
This falls between the tooth fairy and Easter bunny in terms of being real
Need help in clarifying when you would assume the loan of the seller and what that entails.
Scenario:
8.5M home with NOI 516k but has A debt of 1.7M left at 4.3% interest and 8 years remaining. B debt of 1.6M at 3.43% interest and 8 years left.
Would this mean that there are approximately 6M in equity and would the buyers price be the 6M in order to assume the loan?
Need help.
Any and all lenders please see if this is a legit agreement.
Post: Private Money Lenders
- Posts 29
- Votes 2
Quote from @Devin Peterson:
Quote from @John Thao:
How do you validate PML?
Do you mean vet? What type of deal are you seeking financing for?
Devin Yes, I reached out to some folks on FB and got a whole lot of offers from different people claiming to be PML. 2 I spoke to offer 1% origination fee with 6% interest and a 100% LTV.
Post: Private Money Lenders
- Posts 29
- Votes 2
Quote from @Devin Peterson:
Hi Carlos! There are a lot of us on BP that can help out with this happy to connect and discuss in further detail what your actual goals are!
Devin,
I am interested in what you have to offer are you a Private Money Lender?
Post: Private Money Lenders
- Posts 29
- Votes 2
How do you validate PML?
Post: Best Recommended Lenders In California
- Posts 29
- Votes 2
Dylan thanks for replying back, yes I've gotten in touch with a few lenders here on BP however, the ones I talked to so far are not so upfront and helpful with newbies. Do you by chance know of any good lenders you have worked with in the past?