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COMMERCIAL COACHING TIP:
The Scam-Man Cometh: When markets are in turmoil, the worst examples of mankind tend to flourish. Beware the lender or financial partner offering a “deal too good to be true.” That’s because it is designed to part your from your money. Expect to see a number of “advance fee” lenders out there who will claim to have access to funds from Europe, Asia, Africa, Antarctica, or even Neptune … you name the place, seeking “safe” or “good” returns in the good ‘ol U.S. of A. All you have to do to guarantee your 100% LTV, $10MM loan is give us a small deposit of $10,000 … PLEASE be careful when paying unknown lenders advance fees. You should only provide good faith deposits to institutions who have reviewed your transaction details in full. Make sure that you get a LOI from a bona fide company with a history, clients, and a building you can find.
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