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.