Posted by John Behle on November 26, 2008 at 11:31:56:
In Reply to: Does Address Matter posted by Lynn (FL) on November 19, 2008 at 20:31:09:
Banks and financial institutions can be great too. It looks good on a card to be in the bank building and you might have the ability to use their conference room, etc. There's also the guy who was on the second floor above the vault. On his card he put "over 200 million in assets".
Being in the same building can be nice also. You might be able to strike up a conversation with someone at a smaller bank or institution and eventually create a lending relationship. At the least, you can get some referrals. I have a friend that had a Savings and Loan sending him tons of loans that they could not make. They would actually lend him the money to make the loans himself. After they were seasoned for 6-12 months, the bank would buy them back from him at a profit.
I had a Thrift and Loan years ago that would refer "wraparound" loans to me and loan me the money to buy them. They could not buy them themselves because of having to show the "wrapped loan" as a liability on their books. but could lend against them.
Post a Followup