So I micro-managed this place for now almost a year now, it's 1998 and it is time to sink or swim.
I had taken every punch from the bank, as a matter of fact that got worse, because they sold their bad loans to another bank, who was known for collecting, ruthlessly! you see that's what banjs do, guys. They write off loans on their books for tax purposes as losses and then turnaround and make money by, selling these loans in packages to other banks. It makes sense doesn't it? If you could buy a 6,000,000 dollar loan for $60,000, and then squeeze out $80,000 maybe $100,000 at the end of the day, wouldn't you do it? I would. Ultimate arbitrage right?
So, here I was With $250k that the new bank couldn't touch nd they probably bought my loan for $25,000. You don't think I knew that?
You are so wrong if you didn't. I am and always will be a business man. They weren't going to deter me, and everything, I mean everything is a negotiation!!!