1 00:00:00,000 --> 00:00:03,420 Johny Fernandez: Is should people buy old loan applications 2 00:00:03,450 --> 00:00:04,530 as leads? 3 00:00:06,580 --> 00:00:09,220 Sean Murray: All right, so this is a great question. Should 4 00:00:09,220 --> 00:00:13,960 people buy old loan applications as leads? We talk about leads on 5 00:00:13,960 --> 00:00:17,350 here quite a bit. You can buy all different types of things, 6 00:00:17,350 --> 00:00:20,200 people who are interested in funding, people who might who 7 00:00:20,200 --> 00:00:23,020 meet the criteria for funding, people who meet the criteria for 8 00:00:23,020 --> 00:00:25,600 funding and are interested, you can get these leads from the 9 00:00:25,600 --> 00:00:29,350 internet, you can get them from transfers, you can get them from 10 00:00:29,380 --> 00:00:34,030 referrals. But then we kind of go into a different area. And 11 00:00:34,030 --> 00:00:37,180 that is I want to sidestep all that I want to talk to people 12 00:00:37,180 --> 00:00:41,530 who not only were interested in funding before, but also sent in 13 00:00:41,530 --> 00:00:45,760 all of the paperwork. In fact, I want to buy their paperwork so 14 00:00:45,760 --> 00:00:48,550 that when I go and I call them, I can say, I already have your 15 00:00:48,550 --> 00:00:52,210 bank statements. I already have all the information, the only 16 00:00:52,210 --> 00:00:55,150 thing I need from you is just up to date stuff, right? I don't 17 00:00:55,150 --> 00:00:58,480 need anything else. I have your whole file and this person on 18 00:00:58,480 --> 00:01:00,940 the other end of the phone, you might think that you're making 19 00:01:00,940 --> 00:01:03,430 it convenient and easy for them. Yeah. Right. But at the same 20 00:01:03,430 --> 00:01:06,070 time, they may be wondering, how did this random person who I 21 00:01:06,070 --> 00:01:10,540 never met, get a hold of my bank statements and application? And. 22 00:01:10,540 --> 00:01:13,960 Yeah. My old maybe a copy of my lease and stuff. Like, how do 23 00:01:13,960 --> 00:01:18,700 they even have this stuff? Yeah. Not going to be good, if they 24 00:01:18,700 --> 00:01:23,740 start to think about it very critically, because we're now in 25 00:01:23,740 --> 00:01:27,280 an area of I don't know, identity theft, you know, we're 26 00:01:27,280 --> 00:01:31,450 venturing we're in the gray area of this information not being 27 00:01:31,450 --> 00:01:34,570 something that you were legally entitled to have. Yeah. Think 28 00:01:34,570 --> 00:01:37,480 about it. If I wanted to go out and buy a bunch of social 29 00:01:37,480 --> 00:01:41,350 security numbers with cash, you might think, well, you know, 30 00:01:41,590 --> 00:01:44,170 that's a good source of leads. Yeah. Somebody else, like the 31 00:01:44,170 --> 00:01:47,110 government, or the law enforcement might think that I 32 00:01:47,110 --> 00:01:51,010 was up to no good. And I was engaged in some type of fraud, 33 00:01:51,130 --> 00:01:53,860 or identity theft, that you can't do something like that. 34 00:01:54,130 --> 00:01:57,610 And so the notion that you're gonna go out and buy a copy of 35 00:01:57,610 --> 00:02:01,180 someone's bank statements, or their application with a social 36 00:02:01,180 --> 00:02:03,460 security number on it, and be like, oh, it's just really good 37 00:02:03,460 --> 00:02:07,150 leads, I think it's probably a very bad idea. Now, I'm not I'm 38 00:02:07,150 --> 00:02:10,690 not a lawyer. So you can have a lawyer tell you for sure. But I 39 00:02:10,690 --> 00:02:13,240 think if you're like, oh, this is easy, I'm just gonna call him 40 00:02:13,240 --> 00:02:16,330 up with a full package. Law enforcement could easily turn 41 00:02:16,330 --> 00:02:18,010 around and be like, you're buying people's social security 42 00:02:18,010 --> 00:02:22,180 numbers and their bank statements. And how are, how are 43 00:02:22,180 --> 00:02:26,440 merchants going to feel when you call them? Maybe they'll be 44 00:02:26,440 --> 00:02:29,110 like, oh, this is great. Thank goodness, you bought my bank 45 00:02:29,110 --> 00:02:31,780 statements on the black market and now I don't need to send you 46 00:02:31,780 --> 00:02:33,970 anything I'm basically just to prove, oh, this was so 47 00:02:33,970 --> 00:02:36,760 convenient. On the other side, they could be like, oh, really? 48 00:02:36,970 --> 00:02:40,270 Oh, you know what, let me go call the cops. What do you mean, 49 00:02:40,270 --> 00:02:42,550 you have my bank statements, social security number, I'm very 50 00:02:42,550 --> 00:02:46,210 concerned, that could end up very poorly for you. So I would 51 00:02:46,210 --> 00:02:49,570 highly advise as a non lawyer, just don't do it. Don't buy 52 00:02:49,570 --> 00:02:52,270 applications. It might seem like a brilliant idea. 53 00:02:52,300 --> 00:02:54,910 Johny Fernandez: Yeah, it sounds like it sounds like an idea 54 00:02:54,940 --> 00:02:55,990 where you can get money. 55 00:02:56,520 --> 00:02:58,830 Sean Murray: Yeah, it's like, oh, I'm just buying it, you 56 00:02:58,882 --> 00:03:02,295 know, I'm buying some people say I'm buying a full package. Yeah. 57 00:03:02,347 --> 00:03:05,445 I'm not buying just regular leads I'm buying full packages, 58 00:03:05,497 --> 00:03:08,805 where all I need to do is call them up and close them and maybe 59 00:03:08,857 --> 00:03:12,112 get an updated bank statement and then the whole deal is done. 60 00:03:12,165 --> 00:03:15,367 I'm brilliant. But really, if you boil it down, you could you 61 00:03:15,420 --> 00:03:18,360 could just say you bought someone's bank statements, and 62 00:03:18,412 --> 00:03:21,667 you paid for the social social security number. And that could 63 00:03:21,720 --> 00:03:24,870 end up going very poorly for you. Yeah. And I would just say 64 00:03:24,922 --> 00:03:28,020 stay away someone selling full packages, don't buy them, if 65 00:03:28,072 --> 00:03:31,275 you're thinking about selling full packages, don't sell them. 66 00:03:31,327 --> 00:03:34,530 And it might be different if you buy a company and as part of 67 00:03:34,582 --> 00:03:37,680 buying that company you get access to all this information. 68 00:03:37,732 --> 00:03:40,567 It's quite another if you're like, I bought a bunch of 69 00:03:40,620 --> 00:03:43,717 people's bank statements today. I wouldn't do it. So, so if 70 00:03:43,770 --> 00:03:46,762 someone's offering you like you know a great deal on full 71 00:03:46,815 --> 00:03:50,017 packages or applications and bank statements, just stay away. 72 00:03:50,070 --> 00:03:53,272 Or you console with a console with a high price attorneys who 73 00:03:53,325 --> 00:03:55,320 tells you how to handle that properly.