1 00:00:01.949 --> 00:00:04.259 Johny Fernandez: Hey, what's going on everyone? I'm Johny Fernandez. 2 00:00:04.530 --> 00:00:05.460 Sean Murray: I'm Sean Murray, 3 00:00:05.540 --> 00:00:08.720 Johny Fernandez: Welcome to deBanked. tv. Sean, we're going to talk about a 4 00:00:08.720 --> 00:00:12.620 very interesting topic, something that we, you know, was on the DailyFunder. 5 00:00:13.610 --> 00:00:18.620 And essentially, you know, there was a scenario that was written out, and we 6 00:00:18.620 --> 00:00:24.110 read through it, but the big picture is what happens when you're working with a 7 00:00:24.110 --> 00:00:28.550 company. And you know, whether it's a lending or bonding company and broker, 8 00:00:28.910 --> 00:00:36.020 etc. When they stop responding to you, and they just kind of, you know, you're 9 00:00:36.020 --> 00:00:40.190 doing business with them. They stop responding, you don't hear anything from 10 00:00:40.190 --> 00:00:43.520 them. And essentially, they disappear. 11 00:00:44.380 --> 00:00:47.080 Sean Murray: Yeah, well, that's a, that's a pretty broad scenario. You 12 00:00:47.080 --> 00:00:50.200 know, what happens when you're working with someone and they just disappear. 13 00:00:50.800 --> 00:00:54.400 But we there was a post that we were looking at on DailyFunder and had to do 14 00:00:54.430 --> 00:00:59.620 had to do with a broker who submitted a file to an SBA lender, an online SBA 15 00:00:59.620 --> 00:01:04.780 lender. And after we submitted the file, now, SBA loans can take a while to like 16 00:01:04.780 --> 00:01:07.900 process and go through and all that other stuff. But after they submitted 17 00:01:07.900 --> 00:01:12.070 the files, they didn't hear anything back. Like they couldn't reach them by 18 00:01:12.070 --> 00:01:17.200 phone, email, the website, whatever methods are normally available. And so 19 00:01:17.200 --> 00:01:20.140 they've submitted these deals to the online SBA lender, and they've gotten 20 00:01:20.140 --> 00:01:24.580 nothing in return. And I think in that particular instance, though, I was 21 00:01:24.580 --> 00:01:27.190 looking at the name of a company who they were, you know, kind of complaining 22 00:01:27.190 --> 00:01:31.630 about, and that company was obviously all caught up in the PPP program. And 23 00:01:31.630 --> 00:01:37.480 it's been my kind of understanding and experience that any SBA lender, who was 24 00:01:37.480 --> 00:01:41.770 doing PPP, basically was unable to respond to anyone, period is what it 25 00:01:41.770 --> 00:01:46.480 seemed like, like view, if you go online and look at some of the feedback that 26 00:01:46.480 --> 00:01:48.790 these lenders have gotten. Everyone's complaining about not being able to 27 00:01:48.790 --> 00:01:53.590 reach anyone. But if you're a broker who submitted deals to a lender, or to a 28 00:01:53.590 --> 00:01:56.020 funder, and you don't hear anything back, obviously, you're going to be 29 00:01:56.020 --> 00:01:59.320 troubled, because your entire you know, your, your money's on the line, your 30 00:01:59.320 --> 00:02:04.240 commission is on the line, your income is on the line. So we know what do you 31 00:02:04.240 --> 00:02:08.890 do in that circumstance? I think you have to start to first identify why 32 00:02:08.890 --> 00:02:12.940 they're not getting back to you. If it's the case where the lender is caught up 33 00:02:12.940 --> 00:02:18.640 with the PPP program, you should probably take your deal elsewhere, 34 00:02:18.790 --> 00:02:23.170 because chances are, they're not going to get to it. Yeah. And the faster that 35 00:02:23.170 --> 00:02:29.110 you communicate that to your own client, the better. Say they're doing PPP, just 36 00:02:29.290 --> 00:02:32.530 it's never going to happen. But if we're talking more, you know, more 37 00:02:32.530 --> 00:02:40.180 specifically about non SBA non non PPP, you know, I think you have to first 38 00:02:41.170 --> 00:02:46.270 consider who the lender or the funder is. Is this a company that has a this 39 00:02:46.270 --> 00:02:51.190 goes back to what we were just talking about? Yeah, do your diligence? Is this 40 00:02:51.190 --> 00:02:53.920 a company that you have traditionally worked with, that gets back to you right 41 00:02:53.920 --> 00:02:58.570 away, and all of a sudden, you're not now, or have you just started working 42 00:02:58.570 --> 00:03:02.110 with them, and now you're not hearing from them, like right out of the gate. 43 00:03:02.350 --> 00:03:06.430 And that's a very bad sign, I would take that as a sign of a relationship, that's 44 00:03:06.430 --> 00:03:09.970 not going to end well. If it's starting off on the wrong foot like that you sent 45 00:03:09.970 --> 00:03:15.280 off a deal to a company. We've never hearing anything back from it. First of 46 00:03:15.280 --> 00:03:19.840 all, you have to start to worry about whether or not that file is gonna get 47 00:03:20.290 --> 00:03:24.280 stolen from you. We were just talking about that recently. But you should also 48 00:03:24.280 --> 00:03:28.210 take it as a sign as, consider what your other options are. Because if your 49 00:03:28.210 --> 00:03:31.840 relationship starts out that way, it's a good chance it's going to continue that 50 00:03:31.840 --> 00:03:34.600 way, you're going to have a lot of aggravation for yourself a lot of 51 00:03:34.600 --> 00:03:39.190 frustration, but also for your customers, because it's your job to get 52 00:03:39.190 --> 00:03:41.560 them funded. And if you're sending their file to a company that is going to get 53 00:03:41.560 --> 00:03:45.100 back to you. Well, chances are they're going to be upset customers gonna be 54 00:03:45.100 --> 00:03:48.280 upset with you, because you don't have any information for them. And you can't 55 00:03:48.280 --> 00:03:51.580 just pass the buck, but oh, well, you know, the lender hasn't gotten back to 56 00:03:51.580 --> 00:03:54.730 me. That's unacceptable, right? You're accountable to your customer at the end 57 00:03:54.730 --> 00:03:58.210 of the day. And so you should probably take that as a sign of I need to play 58 00:03:58.210 --> 00:04:02.410 somewhere else. Like right now. Maybe just send an email to the funder lender 59 00:04:02.680 --> 00:04:05.200 and let them know, I don't know, whatever your contract tells you you're 60 00:04:05.200 --> 00:04:11.800 supposed to do. But take that as a sign of, you know, work elsewhere if the 61 00:04:11.800 --> 00:04:13.180 situation calls for it. 62 00:04:13.180 --> 00:04:17.440 Johny Fernandez: Yeah. So let's say, you know, I think this sense of going back 63 00:04:17.440 --> 00:04:23.500 to like being, uh, you know, doing your due diligence, and I guess not trying to 64 00:04:23.500 --> 00:04:28.330 do anything to get back at them, or whatever the case is. So if these guys 65 00:04:28.330 --> 00:04:32.230 disappear in a scenario, like what we just talked about, that we read on the 66 00:04:32.230 --> 00:04:37.450 DailyFunder what action Did you take as a business owner? 67 00:04:38.380 --> 00:04:40.750 Sean Murray: If I was a business owner, and I couldn't get ahold of anybody? 68 00:04:40.750 --> 00:04:44.290 Johny Fernandez: yeah. Or if you if you were, you know, in this guy, see where 69 00:04:44.290 --> 00:04:47.800 you know, you're pretty much you thought you were doing deals with these guys and 70 00:04:47.800 --> 00:04:50.380 they disappear. What What would've you done? 71 00:04:51.340 --> 00:04:54.520 Sean Murray: If I was the broker? Yeah, I would just stop working with them. I 72 00:04:54.520 --> 00:04:58.630 point blank, like it but I mean, what else can you do? So if you're the broker 73 00:04:58.630 --> 00:05:01.780 and you send your deal, off to a funder, and they're not getting back to you and 74 00:05:01.780 --> 00:05:04.390 that disappear. I don't know that there's anything you can really do; 75 00:05:05.050 --> 00:05:09.250 other than work with somebody else. I mean, what would you do? Like, there's 76 00:05:09.250 --> 00:05:13.480 nothing you could do. Here's the whole thing. If we're talking about small 77 00:05:13.480 --> 00:05:18.340 business finance, there's literally hundreds of companies out there. In some 78 00:05:18.340 --> 00:05:25.360 way, you're kind of commoditize. There's no way that that funder was the only 79 00:05:25.360 --> 00:05:29.050 one, all of them that could do that particular type of deal. 80 00:05:29.050 --> 00:05:31.670 Johny Fernandez: But let's talk about this. If someone's new to the industry, 81 00:05:31.670 --> 00:05:36.590 and they've put all their eggs in this basket. And this is like, you know, this 82 00:05:36.590 --> 00:05:40.550 is kind of what they have. Is it worth it to even fight it to see if you can 83 00:05:40.550 --> 00:05:44.360 get something back? Or is it just time to move on and learn from this 84 00:05:44.360 --> 00:05:47.420 experience? And I think it's like what we talked about last time, where it's 85 00:05:47.420 --> 00:05:50.780 not when you're gonna get, you know, when something bad's gonna happen to 86 00:05:50.780 --> 00:05:53.720 you? It's not not if but when? 87 00:05:54.840 --> 00:05:58.470 Sean Murray: Well, I think that the broker, what they could do is they could 88 00:05:58.470 --> 00:06:03.120 shop the client to another funding company, I don't think that they need to 89 00:06:03.120 --> 00:06:05.940 buy anything. You know, it's kind of like I just said, there's hundreds of 90 00:06:05.940 --> 00:06:09.360 companies that hundreds of funders, hundreds of lenders out there that will 91 00:06:09.360 --> 00:06:13.740 essentially do what other companies will do. And so the thought that you're going 92 00:06:13.740 --> 00:06:17.070 to try, and I think this particular example, somebody was trying to reach 93 00:06:17.100 --> 00:06:20.880 this lender for months, right? There's no way you should be trying to chase 94 00:06:20.880 --> 00:06:24.120 down a lender for months, if you're, if you're chasing them down for a whole 95 00:06:24.120 --> 00:06:28.560 week, it's already too long. So if you're a broker out there, and this is 96 00:06:28.560 --> 00:06:31.920 the only only lender, you knew, that could that so they can do this type of 97 00:06:31.920 --> 00:06:35.580 deal. And they've kind of ghosted you, I don't think it's a waste of time to try 98 00:06:35.580 --> 00:06:39.600 to pursue them forever. To try to make this deal happen. You need to focus your 99 00:06:39.750 --> 00:06:43.320 effort elsewhere, find a lender of funder who will do the deal, do your due 100 00:06:43.320 --> 00:06:46.590 diligence, don't act desperate, and just be like, there's other guys that will do 101 00:06:46.590 --> 00:06:49.200 it. So I sent it off to him. That's how you end up. That's how you end up 102 00:06:49.200 --> 00:06:53.100 getting deals stolen. Because once you yourself are desperate, you're like, I 103 00:06:53.100 --> 00:06:55.500 don't know who's gonna do this deal. And you just send it off to somebody. 104 00:06:56.130 --> 00:06:58.200 Because they said they could do it out of the blue. And you're like, oh, I'll 105 00:06:58.200 --> 00:07:00.990 just send to this person. And then you do get stolen. You know, that's, that's 106 00:07:00.990 --> 00:07:04.590 how you run into those types of problems. And so I think what someone 107 00:07:04.590 --> 00:07:08.790 needs to do is that they need to consider their other options and shop at 108 00:07:08.790 --> 00:07:11.700 somewhere else, but do their due diligence. And don't feel like doing 109 00:07:11.700 --> 00:07:18.450 this rushed. Yeah, to do it. Do it. Yeah. Be calm. Take it slow. Find the 110 00:07:18.450 --> 00:07:23.940 right funding company, a lending company for this file. Yeah. And then then send 111 00:07:23.940 --> 00:07:26.610 it to the one that's the most appropriate don't don't don't senses 112 00:07:26.610 --> 00:07:28.830 react? And I'll send it here. Yeah. 113 00:07:28.830 --> 00:07:32.590 Johny Fernandez: It won't work out well, in the end. So essentially, do you think 114 00:07:33.130 --> 00:07:37.240 it's in the beginning, it's smarter to sometimes very just take a deep breath 115 00:07:37.240 --> 00:07:43.120 and really do your homework. Be diligent, you know, work harder in the 116 00:07:43.120 --> 00:07:47.020 beginning, so you don't end up going through a scenario like this? At the 117 00:07:47.020 --> 00:07:51.040 end? Yeah. So work harder. Not smarter. No, I'm sorry. Work smarter. 118 00:07:51.040 --> 00:07:53.920 Sean Murray: This guy works harder. Yeah, this guy, this guy works smart. 119 00:07:53.950 --> 00:07:58.810 Why work smart when you can just work your way more work? I love that. You 120 00:07:58.810 --> 00:08:03.130 know, 2020 was time to turn you know, conventional wisdom on its head. 2021 121 00:08:03.130 --> 00:08:06.850 it's all about thinking different. Don't work smart guys. Work hard. 122 00:08:06.850 --> 00:08:08.530 Johny Fernandez: Definitely work smart don't work hard. 123 00:08:08.680 --> 00:08:12.460 Sean Murray: Work 24/7, don't put any thought into it. And hopefully, 124 00:08:12.490 --> 00:08:14.050 hopefully you make a couple bucks. 125 00:08:16.400 --> 00:08:20.180 Johny Fernandez: On that note, great piece of advice here to work smart. Not 126 00:08:20.180 --> 00:08:25.070 hard. Not hard. No sweat. Yeah, it's outstanding. But yeah, I think overall 127 00:08:25.160 --> 00:08:28.670 it's really good. Just intake from someone who's been in the, in the 128 00:08:28.670 --> 00:08:34.370 industry for years. Yeah, you, you've always given out really good tidbits not 129 00:08:34.370 --> 00:08:38.420 only to people in the industry, but just if you're on a commission sales job, in 130 00:08:38.420 --> 00:08:41.720 general. So you've given a great piece of advice. 131 00:08:41.720 --> 00:08:44.149 Sean Murray: I appreciate that. You know, one other piece of that particular 132 00:08:44.149 --> 00:08:48.769 posts we're talking about is that I feel like that broker did get an answer. It 133 00:08:48.769 --> 00:08:52.849 just wasn't the one they were looking for.There was some type of Portal. And 134 00:08:52.849 --> 00:08:57.319 that portal said that the offer that was made had expired. Essentially, they sent 135 00:08:57.319 --> 00:09:02.539 it in, you know, I don't, we didn't, we didn't interview this guy. But they 136 00:09:02.539 --> 00:09:06.619 never heard back. And now when they check the status of it is expired. And 137 00:09:06.649 --> 00:09:10.549 that's that's a whole other topic for discussion, like the deal with expired. 138 00:09:10.549 --> 00:09:13.279 So whatever they thought they were presenting to the customer to the 139 00:09:13.279 --> 00:09:16.789 prospect in the first place is not even valid anymore. Not even worth the 140 00:09:16.789 --> 00:09:20.929 conversation with them anymore. Because it's not it's not valid. And this, this 141 00:09:20.929 --> 00:09:24.079 can happen to you too, right? Because let's say it's not, let's say it's not 142 00:09:24.079 --> 00:09:28.129 the lender for the funder, let's say because it's not always that way. 143 00:09:28.639 --> 00:09:31.879 Sometimes the lender, the funder approves the deal, or approves it with 144 00:09:31.879 --> 00:09:34.549 conditions and they tell the broker and they don't hear anything from the 145 00:09:34.549 --> 00:09:38.809 broker. And the broker did the ghosting. Yeah. And that prospect is like, I don't 146 00:09:38.809 --> 00:09:42.679 know what's going on. Right? Nobody can get ahold of the broker and the broker 147 00:09:42.679 --> 00:09:46.969 is the one who had that client relationship. So here's the here's the 148 00:09:46.969 --> 00:09:50.569 problem, right? They might have the prospect might have a really good offer 149 00:09:50.569 --> 00:09:55.549 in front of in front of them. They just don't know about it. Or, or they told 150 00:09:55.549 --> 00:09:59.089 the broker I liked but I need to think about it and the broker is not telling 151 00:09:59.089 --> 00:10:02.569 the lender, that they need time to thin about. And so the lenders like, Okay 152 00:10:02.569 --> 00:10:08.089 well, after like two weeks, we'r sending the offer. And I think whe 153 00:10:08.089 --> 00:10:12.019 people when you start to impose tim limits, people think that's a sale 154 00:10:12.019 --> 00:10:15.739 tactic. Like, if you were offere something, you must sign today, or th 155 00:10:15.739 --> 00:10:19.669 offer is no good. You're like, okay like, at first, you might be like, Oh 156 00:10:19.669 --> 00:10:22.699 man, I got it, I got it, I gotta sig this now it's gonna be gone. And the 157 00:10:22.699 --> 00:10:24.589 you're like, wait a minute, wait minute, wait a minute, are they jus 158 00:10:24.589 --> 00:10:28.339 telling me that so that I, you know, feel that pressure and sign? Well 159 00:10:28.849 --> 00:10:34.519 perhaps sometimes, but at least in th small business finance world, there is 160 00:10:34.549 --> 00:10:40.909 an expiration on an offer, because th transaction is very kind of, it's base 161 00:10:40.909 --> 00:10:44.959 on future cash flow based on futur revenue. And so if there's any type o 162 00:10:44.959 --> 00:10:48.679 adverse event that's going to impact th future revenue, future cash flow of th 163 00:10:48.679 --> 00:10:53.029 business, they're gonna want to kno about it as early as possible. Yeah, s 164 00:10:53.239 --> 00:10:56.179 a funding company, a lending compan will make an offer to a broker, th 165 00:10:56.179 --> 00:11:02.059 brokers job to relate that offer to th prospect. And then at that, typically 166 00:11:02.089 --> 00:11:05.809 if that prospect doesn't respond or g through there within like, say, tw 167 00:11:05.809 --> 00:11:11.299 weeks, it's not that the offer itsel will be outright decline. But usuall 168 00:11:11.299 --> 00:11:16.009 there will be a condition saying conditional upon providing update 169 00:11:16.009 --> 00:11:19.459 transaction history, you know, they wan to know that in that two week period 170 00:11:19.639 --> 00:11:24.349 you didn't close your business down, or you know, go away on vacation or have n 171 00:11:24.349 --> 00:11:27.529 sales, or, you know, there was a fir that destroyed your store, and you'r 172 00:11:27.529 --> 00:11:31.369 like, now that the fire destroyed m store, I would, of course, I would lov 173 00:11:31.369 --> 00:11:35.419 to sell my future revenue, because I' not going to have any, right. And s 174 00:11:35.659 --> 00:11:39.109 they need to protect themselves, the wa they do that they put an expiration, o 175 00:11:39.109 --> 00:11:40.279 the contract itself 176 00:11:41.170 --> 00:11:42.250 Johny Fernandez: Yeah, and that's fair 177 00:11:42.790 --> 00:11:44.080 Sean Murray: Does that happen in real estate? 178 00:11:44.170 --> 00:11:47.110 Johny Fernandez: So essentially, I mean, it's a little bit, it's a little bit 179 00:11:47.110 --> 00:11:52.060 different in real estate, because, you know, once you have like leases drawn, 180 00:11:52.090 --> 00:11:56.410 or you know, like, they've accepted your offer and whatnot, for leases, for 181 00:11:56.410 --> 00:12:00.730 example, you know, usually, the deal has to be signed within a number of days, 182 00:12:01.120 --> 00:12:05.470 because someone else is going to come. And, essentially, like, if we have a 183 00:12:05.470 --> 00:12:09.100 lease drawn out for us on a rental, for example, and you don't sign within a 184 00:12:09.100 --> 00:12:12.700 week, and then someone else is gonna come in, they're pretty much gonna kind 185 00:12:12.700 --> 00:12:16.690 of get a feel for what's going on with us. And, you know, sometimes if you 186 00:12:16.690 --> 00:12:19.390 don't sign within three to four days, you kind of know, right, this person is 187 00:12:19.390 --> 00:12:25.240 definitely not interested or something happened, that magically, you know, they 188 00:12:25.240 --> 00:12:29.230 are no longer to sit in the apartment. So, but in regards to like, an actual 189 00:12:29.230 --> 00:12:33.220 expiration date, usually, you know, things are drawn out, and then, you 190 00:12:33.220 --> 00:12:39.280 know, they just have to sign and there's usually a time to pretty much, you know, 191 00:12:41.290 --> 00:12:46.210 get out of whatever scenario you're in whether it's, you know, an accepted 192 00:12:46.210 --> 00:12:49.810 offer, you know, at least is drawn out. But once you get past a certain point, 193 00:12:49.840 --> 00:12:52.900 it's kind of like, are you fully committed into this? And you kind of 194 00:12:52.900 --> 00:12:54.400 just go straight through? Yeah. 195 00:12:55.710 --> 00:12:59.580 Sean Murray: Yeah, that makes sense. I mean, for for brokers who are out there, 196 00:12:59.580 --> 00:13:02.490 and when they get approvals from lenders, and funders and lenders, and 197 00:13:02.490 --> 00:13:07.560 funders, give some type of timeline as not to apply the pressure, it's because 198 00:13:07.650 --> 00:13:12.990 things just have, you know, things just have a, a period when they when they 199 00:13:12.990 --> 00:13:16.110 have to be executed. Otherwise, things can change. You know, in real estate, it 200 00:13:16.110 --> 00:13:18.240 could literally just be the competitive nature, 201 00:13:18.240 --> 00:13:23.070 Johny Fernandez: Yes, with real estate, especially in Manhattan, in Brooklyn, or 202 00:13:23.070 --> 00:13:27.570 New York City. Things are things move quickly. And I think that's something 203 00:13:27.570 --> 00:13:31.620 people don't really fully understand when you're renting or buying in New 204 00:13:31.620 --> 00:13:35.880 York City is that things move at a rapid fast pace, especially now that things 205 00:13:35.880 --> 00:13:39.750 are getting back to normal, that, you know, something could be on the market 206 00:13:39.750 --> 00:13:43.650 for less than a day. And there's like multiple bidding wars on things like a 207 00:13:43.650 --> 00:13:48.330 rental, like, you know, and at the end of the day, you know, you're you're you 208 00:13:48.330 --> 00:13:52.530 put in an offer for I've heard a story. Someone had a client, one of my buddies 209 00:13:52.530 --> 00:13:58.950 had a client who was a $10,000 a month and rental deal, rental, and they had 210 00:13:58.950 --> 00:14:04.500 bidding wars, and they went up to $12,000 a month, per month for that 211 00:14:04.500 --> 00:14:08.550 specific unit. And I don't act quick, someone else is going to get you to so I 212 00:14:08.550 --> 00:14:11.850 think that's the competitive nature, you're talking about that? You know, 213 00:14:11.880 --> 00:14:16.050 they have at least tried inside and you know, you've had an accepted offer, you 214 00:14:16.050 --> 00:14:19.290 have to sign because if not like you can get out because there's multiple other 215 00:14:19.350 --> 00:14:21.510 people, you know, waiting? 216 00:14:22.440 --> 00:14:25.350 Sean Murray: Yeah, yeah, that makes sense. You know, in the small business 217 00:14:25.350 --> 00:14:30.540 finance world, it's kind of it's kind of similar in that other lenders or funders 218 00:14:30.570 --> 00:14:34.050 might try to piggyback off the underwriting of another company. So you 219 00:14:34.050 --> 00:14:38.160 have a, say, business owner and merchant who's approved for whatever dollar 220 00:14:38.160 --> 00:14:41.220 amount it is, they weren't able to get approved elsewhere before and all of a 221 00:14:41.220 --> 00:14:44.760 sudden, this one company turns around and says, you know, we, we hereby truly 222 00:14:44.760 --> 00:14:51.300 approve you. Another funding company might take that contract proposal and be 223 00:14:51.300 --> 00:14:55.590 like, well, this company would approve them and I know they're smart and 224 00:14:55.590 --> 00:15:00.480 underwriting is good. I'll make the same offer but add $2,000 more I make the 225 00:15:00.480 --> 00:15:03.990 same deal. Yeah. Right. And so the original company, like how can that be 226 00:15:04.020 --> 00:15:08.550 I, you know, I thought we were only the smart and being able to, in order to 227 00:15:08.730 --> 00:15:12.840 make this type of deal happen, but the competitor might literally just 228 00:15:12.840 --> 00:15:16.140 piggyback off of what they think that company knows what they think that 229 00:15:16.140 --> 00:15:19.680 lender would they think that funder knows and literally gave the same 230 00:15:19.680 --> 00:15:24.360 approval, but maybe sweeten one part of it, whether you know, it's a lower cost 231 00:15:24.360 --> 00:15:28.860 or more money up front of something, and and work from that angle. And then all 232 00:15:28.860 --> 00:15:32.640 of a sudden, here you were the broker or the lender waiting for the client to 233 00:15:32.640 --> 00:15:38.460 take the deal. And the client takes it. So we just had something job the client 234 00:15:38.460 --> 00:15:43.050 takes a deal, and it's not the one that you proposed, it's something close to 235 00:15:43.050 --> 00:15:45.510 that looks a little a little better, and then you think that your deal got 236 00:15:45.510 --> 00:15:48.540 stolen? Yeah, like my deal got stolen, they offered something a little bit 237 00:15:48.540 --> 00:15:52.710 better. No, it's the customer literally probably took that well could happen but 238 00:15:52.710 --> 00:15:57.540 the customer probably took that proposed contract and showed it to somebody else 239 00:15:57.540 --> 00:16:02.250 and said they offered me 20,000 you know, I will go with you if you give me 240 00:16:02.280 --> 00:16:06.000 22 or if you give me 25 and they know that the other company is underwriting a 241 00:16:06.000 --> 00:16:09.510 sound and say hey, let's do it and then you feel like the deal got stolen but 242 00:16:09.510 --> 00:16:10.470 that's not what happened. 243 00:16:10.500 --> 00:16:12.720 Johny Fernandez: It's how it happened. I think the name of the game for 244 00:16:12.720 --> 00:16:13.950 everything is got to move quick. 245 00:16:13.980 --> 00:16:16.920 Sean Murray: You got to move quick got to move it with a broker, the lender, 246 00:16:17.730 --> 00:16:18.390 the merchant 247 00:16:18.390 --> 00:16:21.480 Johny Fernandez: Whoever the you have to move quick so I think that's a big 248 00:16:21.480 --> 00:16:21.870 takeaway 249 00:16:22.870 --> 00:16:24.480 Sean Murray: And work hard now smart 250 00:16:30.090 --> 00:16:37.680 Johny Fernandez: Alright, so for more of our stories, you can go online not to 251 00:16:37.710 --> 00:16:42.870 google.com but to deBanked.com and definitely check out you know, our our 252 00:16:42.930 --> 00:16:46.500 other videos and stories that we have posted there and also on social media, 253 00:16:46.500 --> 00:16:51.120 you can check us out on different platforms, Twitter, Facebook, LinkedIn, 254 00:16:52.080 --> 00:16:56.730 Instagram, the other one. So for all of us here, I'm Johnny Fernandez. 255 00:16:56.760 --> 00:16:57.570 Sean Murray: And I'm Sean Murray. 256 00:16:57.600 --> 00:16:58.410 Johny Fernandez: See you guys next time. 257 00:16:58.590 --> 00:16:59.610 Sean Murray: Work hard out there.