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Jstarr
Jstarr
Member
Last Activity: 03-12-2019, 08:56 PM
Joined: 04-19-2017
Location: Boca Raton, Fl
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  • i was about to ask about the property, is the lack of reserves hurting your approval?...
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  • Jstarr
    replied to Foreign national
    I understand, but if something happens in the near future and they are suspected of fraud or if they default, they will say " This is what the guy at forexap told me to to to get access to capital" and you could face some legal problems.

    if you look on daily funder you will find someone that will lend to foreign nationals with a TIN number...
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  • Jstarr
    replied to Puerto Rico Collateral Lender?
    Well, $385K in equity, does she have any debt on the property? ( 1st position conventional) What is the property type and value?


    ...
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  • Jstarr
    replied to looking for 1 million term loan
    Call steven at Davinci, 210-290-4102 - he did a $1MM deal for a pizza restaurant recently....
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  • Jstarr
    replied to Looking for a home for a 350K deal.
    This is Comical....
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  • Jstarr
    replied to Merchant wants Loan Against Liquor License
    what state? every state has particular laws pertaining to liquor license and legalities, and there are 3 types of license, beer & wine, SRX, and 4 cop.

    1) Beer & wine is about $500.

    2 )SRX is about $1200, this is a quota license, you need to sell 51% food to keep this.

    3) 4cop is a full license and depending on the state they could go for as much as $120,000. and you are not required to sell food for this license.
    ( if it is a 4cop, most licenses will have a lien or note on them, so you need to make sure you are in 1st position)/


    The most common license is the SRX and they really don't have much face value

    The other problem is, is the restaurant doesn't pay the vendor, they are put on a no sale list and a lien is placed on the license.

    liability - if someone leaves the bar drunk and kills someone, they can come after the restaurant, so the contract needs to be drafted properly so the lender...
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    Last edited by Jstarr; 03-04-2019, 09:54 PM.

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  • Jstarr
    replied to Foreign national
    This sounds fishy. i wouldn't get involved with assisting anyone opening a corporation in the US from overseas, have them go to legal shield or something like that, and once they are situated - then you can assist....
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  • Jstarr
    replied to Foreign national
    Am I getting this right, he is willing to create a US corporation, open a bank acct here just so he can borrow money, and does he plan on using those funds for overseas operations?
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  • Jstarr
    replied to Looking for an Asset Based Lender
    why does he want a second? depending on property type and location and value, I could offer him a refinance, cash-out
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  • Jstarr
    replied to Asset based loan, no real estate
    32 busses? that might be a tough one.
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