Commercial Mortgage Pawn Shop in Fort Lauderdale, FL
“Marcy: Hi, Jack.
Jack: Hey, Marcy. To tell people, I should, I say at the end, but I’m going to say at the beginning. Like wherever you’re seeing this, YouTube, TikTok, Instagram, subscribe to the channel, ask questions, we’ll answer them. But Marcy, why don’t you tell everyone about the deal we were just talking about?
Marcy: We just did a deal. She was in Florida; it was actually a pawnshop located in Fort Lauderdale. Anyway, we took out his first lien for them. They had a loan that was ballooning, and they got themselves into a little bit of a jam. He was in foreclosure, closure.
Jack: A lot of lawsuits.
Marcy: There’s a lot going on, and we were able to clear everything up for him through title, and now he just has a clear path to be successful.
Jack: Came from a mortgage broker, a retail store in Fort Lauderdale. No appraisal, foreclosure bailouts. We’re doing a good amount of foreclosure bailouts. Remember, we’re not a bank; we’re independent lenders. So we’re doing things we don’t have to answer to the federal government or anything like that.
Marcy: No, we look at common sense, if it makes sense, if it sounds correct. And, you know, we do our due diligence, and we’ll go forward.
Jack: And we’ll take more risks, but we get a premium for it, right? You know, we’re taking more risks, but they’re paying a premium in terms of pricing.
Marcy: But in this situation, Jack, we cleaned everything up for this borrower, and now he can be successful in his business. You know, he’s leasing it out to a third party, and he’s going to be able to, you know, start going forward.
Jack: Yeah, the broker and the borrower were so thankful to us. They were so thankful. So that’s what we’re doing. Remember, we’re doing non-bank deals, work with mortgage brokers, do businesses. I think 40 States, something like that, major MSAs. Check us out at geltfinancial.com. Remember, when your bank says no, we say yes. Have a great day, okay.”
Category: Deals Done
