Posted by MN~Chicago on November 11, 1998 at 15:19:15:
My first post below did not show up when
I logged on, but did show up after I
posted the second one.
Posted by MN~Chicago on November 11, 1998 at 15:19:15:
My first post below did not show up when
I logged on, but did show up after I
posted the second one.
Commercial Paper - Posted by MN~Chicago
Posted by MN~Chicago on November 11, 1998 at 15:13:56:
John:
I made a presentation to a real estate attorney
heavy into real estate and investors for same.
My intent was to put together a $5 million fund
for notes, but I wasn’t sure how versed he was
in them.
I found out when he replied, “You don’t need a
fund. I just did a $33 million deal with a 3.5%
interest spread. You find the deals, and there
is more than enough money available. Call these
3 banks. I expect some more fall out over the
next 6 months and more opportunities.”
He gave me some bank names, but this is not quite
what I expected. I told him what I had in mind
were somewhat smaller notes. He is very precise
in how he conducts business. The thought occurred
to me about improving portfolios, but I do not know
if it is as appropriate for commercial notes.
It seemed more prudent to take the information I had
just learned than to show how little I knew about
what he was doing. His deal involved a foreclosure
loan.
I left my material with him which advocated doing
discounted mortgage notes on SFHs. I spent 3 days
putting the proposal together, but it looks like
a different tact may be more appropriate.
Any ideas on how to pursue this kind of potential?
Thanks,
Michael Noonan