MR. GARCIA - Posted by Allen

Posted by Allen on December 02, 2000 at 21:55:47:

Mr. Garcia,

My marriage has caused bad credit. However, I am still VERY interested (and determined). I am a great broker when it comes to contracts, money, etc… I would love to speak with you regarding the process of borrowing at one rate and lending at another. What concerns me is if I lend the money out and the people don’t pay me back, then Im liable, correct? Please email me at if it is ok to call you this evening or tomorrow.
Thank you,

MR. GARCIA - Posted by Allen

Posted by Allen on December 01, 2000 at 14:48:19:

Mr. Garcia,

Regarding your post: Since I last talked to you, I have recognized that lending money short term is a heck of alot more profitable than working in realestate because it takes less time and effort. (Correct me if Im wrong). Im in Florida and they told me that without a license I can make only 18% on my money that I lend. But if I get a license for $600 every two years, Im aloud to earn 30% on my money. (I dont see why they limit you to how much you can get back on your money?? Is it the same in the mortgage financing arena?) You see, for someone like me, I dont have but a few thousand to start out. But I see the potential. What would you recommend lending money for? What is the safest collateral based loan I could get involved with? Please respond when you have a minute or email and let me know if its ok to call you. :slight_smile:

Re: MR. GARCIA - Posted by Ed Garcia

Posted by Ed Garcia on December 02, 2000 at 12:13:31:


Lending can be done in the same manner we buy real estate. You can use other people’s money. If you wanted to go into the lending business, then you could borrow at one rate, and lend at another. You could acquire investors for your loans, use lenders money, and acquire credit lines securing them by your loans.

If I had a few thousand dollars and good credit, and by the way you haven’t mentioned your credit status, I would perhaps run ads as a real-estate investor. Allen, to me credit is more important than immediate funds, because you only have so much immediate funds available. That’s the reason I teach investors how to leverage their financial abilities.

By the way, it’s always ok to call me. If I were in Florida, and considered becoming a lender, I would get licensed and know what the lending requirements and lending limits are. I would then attempt to acquire investors to fund hard money loans. I feel that no matter what part of the country you’re in, there is a demand for hard money.

Ed Garcia