Quote:
Originally Posted by TomMAffolter
Yes I understood your original post, its like pawn broking but with land.
My question is have you personally done it?
Im saying often when looking from outside, without actually experiencing it, it always seems easy.
You are dealing with people banks wont touch, they wont touch for a reason. Banks definitely have more resources than I do, so unless im connected to mafia have someone go break arm leg, or maybe my in-laws are brown mafia.
I agree with all your points, im just saying that it will be quite difficult to execute and not so simple.
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thats the point, these people are very desperate and willing to pawn their land for a loan of a very much smaller value compare with the evaluated land. you land evaluate 10mil, i will only give you 2 mil loan, take it or leave it. no risk for loaner cause land will be transfer to loaner name. no need for mafia cause this is a legal process. and for anyone with these amount of very cold money (money that just sit in the bank doing nothing, not even needed for any emergency) confirm have plenty of 'friend'. but for me, this is a bit black heart money thats all
i have close friend doing this since his father generation and family accumulated many land deed over the years
and im not saying its easy, 1st of all you need to be very cold cash rich. asset rich cannot do this