I was reading an email from Don Konipol, one of the principals of Private Mortgage Financing, about some of the dumbest questions he’s heard about commercial loans. I surrender. He’s got me beat! Enjoy these laughers!
10. “If you make me a loan can I sell it?
9. “Do you care what kind of dog I adopt?”
8. “I sold the property, but not all the way. Is that okay?”
7. “Why would you hold money in escrow for repairs? Once I get the loan I can do anything I want with the money. It’s my money.”
6. “Do I have to get my credit score over 500 to get a loan?”
5. ”It says you lend nationwide. Does that include all 50 states or just the 13 colonies?”
4. “Can I get a loan if I don’t have a name?”
3. “I Need to know the exact credit score I need to get a loan. I don’t want to pay too many bills unless I have to.”
2. I’m buying an apartment building with 6 loans. I’ll let you lenders decide who gets 1st lien position.”
1. If I don’t need the money, how much would you lend me?”
I’m not even sure which one my favorite would be. For now, I’m going with #3.