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Thank you Elizabeth and Cherry, Very informative and stuff I mostly know. I wish I had seen this before I ventured into private lending with someone I thought I could trust and was told as much.
I had family members get duped by people they trust. $25k for 10% guaranteed returns, and then that best friend disappears. All based on handshake. I roll my eyes to see how gullible people can be. Nothing is ever guaranteed except a GIC lol.
Lending money? There is no money. Only debt. They lend debt. Gold and silver is real money Not fiat debt notes.If promissory note is a piece of paper then what is The dollar? Lol😅
I was approached by a reputable Real Estate agent who offered 25% return for 500k plus.. the project looked amazing and very realistic. He was offering a share of Real Estate property to reassure me. I thought that is too good to be true so I refused. A few months late the project and the areal Estate guy suddenly vanished. !
If you want to lend, don't register a mortgage as security if you do not have the wherewithal to foreclose. Do not lend $$ for construction, lest your mortgage get outprioritized by construction liens.
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Thank you Elizabeth and Cherry,
Very informative and stuff I mostly know.
I wish I had seen this before I ventured into private lending with someone I thought I could trust and was told as much.
Glad you found the video informative!
I had family members get duped by people they trust. $25k for 10% guaranteed returns, and then that best friend disappears. All based on handshake. I roll my eyes to see how gullible people can be.
Nothing is ever guaranteed except a GIC lol.
Good interview. Watched the entire video. Lot of good points
Thank you!
Lending money? There is no money. Only debt. They lend debt. Gold and silver is real money Not fiat debt notes.If promissory note is a piece of paper then what is The dollar? Lol😅
A lot FEES = people don't know the back door fees. You paid more INTEREST more than your PURCHASE PRICE
I was approached by a reputable Real Estate agent who offered 25% return for 500k plus.. the project looked amazing and very realistic. He was offering a share of Real Estate property to reassure me. I thought that is too good to be true so I refused. A few months late the project and the areal Estate guy suddenly vanished. !
Woah!
If you want to lend, don't register a mortgage as security if you do not have the wherewithal to foreclose.
Do not lend $$ for construction, lest your mortgage get outprioritized by construction liens.
Most people don't know how to do math, and their greed takes over
Who can trust " honorable" Canadian people?!😂😂😂