All Forum Posts by: Alex Santini

Most of my research lead me to what you found in your previous reply. I was wondering where you found this specific statement from, unless I misunderstood it.

Are you saying here there are no limits on the amount of interest you're able to charge a company if there is a contract between the two parties? Or do you mean that you can charge any amount within the legal limit?

If so, can you let me know exactly where you found this? Because it would be very helpful for me
I have the previous PDF you sent me from CUNA.org but I was unable to

Sorry for the late response. This is the second time I'm reading your reply and I didn't see your Ps. the first time. I downloaded the PDF you included in your reply and looked for Florida statute because that is where I am located. But I got lost when clicking on the link within the PDF under the Florida heading.

Could you possibly elaborate? This is the first I am hearing that it is possible to charge a business any interest rate within a contracted agreement 

I read a passage from the book How to be a Capitalist without any Capital written by Nathan Latka. On page 312 he starts a paragraph describing the time he invested 11k in a hostel and received 1,200 quarter, an annual 40% return. My question today is, if this violates usury laws and if not, how so? 

I watched a biggerpockets video on youtube where @Brandon Turner said auction bids start at the remaining balance of the mortgage

Perhaps I misunderstood him or I am not accounting for other variables that the overall cost of acquiring a property through auction. Also, maybe every auction rules are different in each state

So, it is very likely Deutsche Bank didn't acquire this property for $10,000 at a foreclosure auction?

But instead they were the originators of the mortgage? 

I have included a screenshot with this post. I am trying to understand the foreclosure process. A condo is for sale in my area and the sales history says Deutsche Bank purchased the property for roughly $10,000 and the properties assessed value is roughly $200,000. I assume this sale took place at a foreclosure auction and I also assume banks likely buy multiple properties at a time which allows them to get a property so cheap. I was wondering if anyone wanted to point out some things I may be missing because I'm sure everyone wants to be able to buy a property worth $200,000 for $10,000 

I definitely understand. What I am actually trying to understand is how to evaluate a business and diagnosing any issues with it, while being able to understand what it would take to remedy and make it perform better

I watch YouTube all day and there's plenty about Real Estate, Macro economics, Stocks, Gold, etc., but very little in terms of business. And the stuff I do find on small business is mostly someone selling a coarse. So, I think I'm looking for business basics and I should bother some local businesses in my area 

My apologies for the confusion. I am wondering if some of the basic principals of BRRRR can be applied to acquiring small businesses. So, that would mean Find and BUY a small business at a discount, one that I assume isn't doing well. REHAB it to make it profitable or increase its revenue, you can't RENT a small business, so that would be omitted. Perhaps some level of REFINANCE might take place. And then REPEAT I assume is a bit obvious. So, I guess it would be better to say BUY, REHAB, REPEAT. Just thinking out loud. This would apply to any type of business

I'm looking to originate small loans for local projects. No more than 10k at a time. Most importantly, I need an education on the due diligence and paperwork needed to safely do this