Expert Advice Needed - Posted by Ryan

Posted by John Behle on November 10, 1998 at 13:05:28:

This attorney doesn’t know what he is talking about. Also like many, he shares his lack of wisdom anyway. “Don’t go to a Dentist for Brain Surgery”. Be careful not to accept or respect the advice of an attorney talking outside his area of expertise and training. Contrary to popular beliefs a law degree is not training in banking, investments, real estate, finance, etc.

I absolutely love attornies that are trained and bring real world experience and expertise to the problem or challenge I’d like them to help with.

This guy you’re talking to obviously isn’t one of them. I’d like more details on what you are trying to do, but there is no particular financing you need to “broker” or “flip” notes. Financing is helpful to make things work more smoothly, but a bank is the last place you will probably find any. There are many posts below and also an article in this forum on “Financing Paper”. Read through those and then follow-up with any questions you still have.

Expert Advice Needed - Posted by Ryan

Posted by Ryan on November 10, 1998 at 12:14:32:

I appreciate all the help I can get. I am trying to get started in PA and have been speaking to an attorney. He says I need to fill out an application from a bank and the bank says I need about $100,000 to do this.

I don’t think they understand what I want to do. I don’t have any money to put up so I have designed it so I receive a commission only if I sell their mortgage and nothing else. I am confused and would like to get started immediately. Any information is helpful, thank you.