Right From The Heart: New Publishing Schedule, Out of Ground Assets, Testimonies, Proof of Funds, Hard Money, Get Ready Questions and Lots More 20100519
Greetings from the beautiful San Francisco Bay Area where temperatures are in the mid-60’s: the sky is overcast and rainfall has exceeded normal for the first time in years, Praise God!
____________________________________________________________We’re changing the way that we Market and promote our websites. If you’d like to learn more about what we’re doing visit:http://www.TrafficGeyser.com/cmd.php?af=33538 Dale and I are taking classes (mainly Dale). What we’re doing is working. We have increased website bandwidth several times this year and are up to 7.5GB,
This new marketing tool will help you build your business too!
We’ve gone to a publishing schedule for the first time in 10+ years:
Monday: Monster Corporations, Business Lines of Credit $100,000 to $14,800,000
Tuesday: International Hard Money Conference and Access to Hard Money Funding $500,000 to $100,000,000
Thursday: Proof of Funds, SBLC, BG, Bank Instruments and More
Friday: Large Project Funding $20m+, 100% True JV, Trade Programs
Saturday: What We Learned For The Week: The Good, The Bad, and The Ugly
Sunday: Credit Restoration, Derogatory Removal, Inquiry Removal, Business Credit Enhancement
Dale and I are looking for “Don’t Wanter” Real Estate. If you know of properties kindly refer them to me firstname.lastname@example.org We pay referral fees.
I received this Saturday May 15, 2010. It shows our commission for those who want to know what we earn:
We are a family owned, second generation, gold mining and exporting company.
We have all the requisite licenses to mine and export.
We ship CIF to known customers and we have proven records of previous shipments.
We also have assay report and SKR receipts of 200kg stored in a secured vault / Bank.
We are preparing a shipment of 50kg of 22+ Carat gold to China over the week.
Please let me know if you have a buyer in China or if you are capable of proceeding to China to receive the gold.
We are among the few Gold mining and exporting Companies in Ghana that are capable of shipping CIF with the issuance of Standby Letter of Credit.
As a matter of company policy, we do not request or accept any up front payment under any guise, but buyer will be expected to issue a “Standby Letter Of Credit” to cover the value of transaction. Whereby the buyer prefers not or unable to issue the SBLC, buyer will be expected to personally present a “Comfort Letter” or “Bank Guarantee” to our Bank In Accra, Ghana.
In this extraordinary investment environment, wealth preservation should be your top priority. Before you make your next financial decision, consider the following: since 2001, when the U.S. dollar began its secular decline and lost over 30% outperforming all major asset classes.
Precious metals have stood the test of time as a wealth protector in times of economic strife and uncertainty. While most investment portfolios lost 30-70% in 2008, Gold yielded up to 45% returns in value appreciation in the global markets.
Many top analysts are predicting further upward movement and have set price targets above $1500 per ounce by years end, and as high as $3000 within the next few years.
Traders and investment managers that previously never invested in precious metals, have shifted focus as solid fundamentals and positive technical analysis in the sector are undeniable.
It will interest you to know that we pay 3.5% after tax for each and every successful deal you initiated.
Please, talk to your investor clients and let’s close a deal.
We are looking forward to having a successful and profitable business relationship with you.
I had a long talk with Tod. Tod has a way of monetizing bank instruments.
Here’s what he sent me:
CLIENT INFORMATION SHEET
Date: __________________, 2010
Client/Signatory Name :
Passport Number :
Date of Issue :
Expiration Date :
Issued by :
Date of Birth :
Place of Birth :
Home Information t;/span>
Street address :
Business Name :
Street address :
Registered Office :
Registered Number :
Legal Advisor Name :
Legal Advisor address :
(Client Information Sheet, Page 2)
Mailing Address Information
Street address :
E-Mail Address :
Name of Bank :
Street address :
S.W.I.F.T. Code :
Bank Officer #1 :
‘; font-size: medium;”>Bank Officer #2 :
Account Name :
Account Number :
Account Signatory :
Funds available : US$/€_____________ (________________)
Origin of Funds:
Are these Funds free and clear? ¨ Yes ¨ No
Brief description of Corporate Activity:
(Client Information Sheet, Page 3)
I hereby swear under penalty of perjury, that I AM THE SIGNATORY of the account and that the funds/asset belongs to me. The information provided herein is accurate and true.
Client Name / Title
STATEMENT OF NON SOLICITATION OF FUNDS
(Page One of Two)
Date: __________________, 2010
To: Private Lender
Re.: Participation in a Private Financial Opportunity
I, _____________________, as Account Holder and Signatory, do hereby confirm that I have requested of you and your organization, specific confidential information and documentation on behalf of myself regarding currently available Project funding to serve only my interest, education, and not for further distribution.
I hereby agree that all information received form you is in direct response to my request, and is not in any way considered or intended to be a solicitation of any sort, or any type of offering, and for my general knowledge only. I hereby affirm under penalty of perjury, that I have requested this information from you and your organization of my choice and free will and further, and that you have not solicited me in any way.
I hereby represent that I am not an informant, nor am I associated with any government agency of the United States of America, or any other country, such as the Secret Service, Internal Revenue Service, Federal Bureau of Investigation, Central Intelligence Agency, Securities and Exchange Commission, Banking Commission, nor any agency whose purpose is to gather information regarding such offerings.
I understand that the contemplated transaction is strictly one of private placement, and is in no way relying upon, or relating to, the United States Securities Act of 1933, as amended, or related regulations, and does not involve the sale of securities.
Further, I hereby declare that you have disclosed that you are not a licensed Security trader, attorney, bank officer, certified public accountant or financial planner. Any information, work or service conducted hereunder is that of a private individual and that this is a project funding transaction that is exempt from the Securities Act and not intended for the general public but Private Use only.
STATEMENT OF NON SOLICITATION OF FUNDS
(Page Two of Two)
The facsimile transmission of this document shall be considered a binding and enforceable instrument, treated as original copy. Original may be obtained upon request.
Client Name / Title
RESOLUTION OF THE BOARD OF DIRECTORS OF
(Name of Corporation)
(Page One of Two)
Minutes of the meeting of the Board of Directors, held on the ____ day of _____________, 2010
Articles of Incorporation of the Company.
A special meeting of the Board of Directors of __________________ (hereinafter referred to as “Corporation”) was duly held in accordance with the Articles of Association/By Laws of the Corporation.
Present at the meeting were the following Directors:
_____________________________________, Director and Chairman,
_____________________________________, acting as Secretary
The meeting of the Directors undertook the following Corporate Resolution, which has been recorded in the Minute of the Book of the Corporation.
It was unanimously resolved to utilize funds/assets in deposit at (name of the Bank) for an investment opportunity.
Additionally it was unanimously resolved, that ______________________________ Director of the Corporation since [date of appointment] and authorized signatory of the funds/assets on deposit, is authorized to use corporate bank accounts, to enter into instrument and fee agreements as necessary, to make selections as to which investment will suit best the placement of these funds/assets so as to assure the anticipated financial returns and to receive and distribute all profits from the investment.
The necessary authority and powers required to undertake these tasks and responsibilities are hereby granted to:
Passport No. :
Country of Origin :
RESOLUTION OF THE BOARD OF DIRECTORS OF
(Name of Corporation)
(Page Two of Two)
It is therefore, unanimously resolved that the appointed officer and director shall have the authority to negotiate all details and sign the final contract with the officer representing the investment and bank officers.
There being no further business, the meeting was declared adjourned, and in witness thereof, the directors signed below on the date first written above.
Signed and sealed this _________ day of _________________, 2010
Client Name / Title
AUTHORIZATION TO VERIFY AND AUTHENTICATE
Date: __________________, 2010
To: Private Lender
Re.: Participation in a Private Financial Opportunity
We, ______________________________________, authorized signatories and on behalf of ourselves, do hereby authorize the compliance department and or compliance bank, to check with our bank (name and address of the bank) on a bank-to-bank basis, the availability and authenticity of the funds/asset which we commit to place into the Private Financial Opportunity transaction with you.
Kindly find below the full coordinates of our bank and the funds/asset in deposit/custody with them:
This authorization shall remain in full force and effect after issuance for a period of thirty (30) banking days.
Client Name / Title
[ON BANK LETTERHEAD]
[CLIENT’S ACCOUNT NO.]
REF.: ACCOUNT NUMBER AND DESCRIPTION OF FUNDS/ASSET
WE, BANK _________, HEREBY CONFIRM WITH FULL BANK RESPONSIBILITY [CLIENT’S NAME] IS THE REGISTERED, LEGAL AND LAWFUL OWNER OF THE BELOW LISTED FINANCIAL INSTRUMENT:
[LIST, DESCRIPTION AND DETAILS OF THE INSTRUMENT]
WE ALSO CONFIRM THAT [NAME OF THE SIGNATORY OF THE COMPANY] AS DIRECTOR OF [NAME OF COMPANY] IS THE FULLY AUTHORIZED SIGNATORY, OF THE INSTRUMENT OWNED BY [NAME OF COMPANY] HELD IN ACCOUNT NO. ______________ AT (BANK DETAILS) AND HAS A CURRENT MARKET VALUE OF €_______________(____________EURO).
WE FURTHER CONFIRM THAT THIS INSTRUMENT IS AVAILABLE IMMEDIATELY TO BE SENT BY SWIT MT760 TO AN ENTITY TO BE NOMINATED BY THE OWNER
WE HEREBY WARRANT AND AFFIRM THAT THE ABOVE LISTED INSTRUMENT IS FREE, UNENCUMBERED, GOOD-CLEAN AND CLEAR FUNDS OF NON-CRIMINAL ORIGIN.
BANK OFFICER`S NAME BANK OFFICER`S NAME
TELEPHONE NUMBER TELEPHONE NUMBER
We are excited to tell you that we are now offering SWIFT services! please see attachment.
The #1 provider for POF, Swift, and Banking Instruments.
SWIFT SERVICE OUTLINE
We are proud to announce our newest addition to our product and service offerings. Due to our growing capacity and continued success, we are now able to offer SWIFT services to you and your clients. Below are some outlines of what can be done. Feel free to contact us for any of your questions.
We are proud to offer swift service now even for your own instruments.
A any swift for your purpose. Most popular swifts include:
We’d like to thank you for your continued business and look forward to more shared success!
Here is a list of our current products and services:
· Bank Guarantees
· Stand By Letters of Credit
· Documentary Letters of Credit
· Proof of Funds
· SWIFT services – our newest addition! We can now provide SWIFT services for your instruments as well.
Great News: Our domestic Investment Brokerage account program is now licensed as a Hedge fund and can now do SWIFT MT760.
I met with Hector and Peter in Los Angeles with a couple who had flown from the Carolina’s and our referral partner, Robert. They are guaranteed $1,000,000 with a target of $1,500,000.
It takes a 740 minimum FICO score and $43,000 up front for $500,000 corporation and $75,000 up front for a $1,500,000 corporation ($1,000,000 guaranteed).
The process takes 90 to 120 calendar days. The back end success fee is 12%.
Jay can furnish Proof of Funds from $90,000 (I found that out yesterday when a prospect needed that amount) to $10 billion. I have the wholesale price sheets.
Jay offered to make us a “Tier One Broker” so we really need your help. In order to maintain that privilege we need to close three transactions a month for $150,000,000.
We also can provide Stand By Letters of Credit and Swifting with Jay.
I spoke with Greg this week.
It’s important to complete a CIS, furnish an enlarged copy of your passport and supply proof of funds.
Most questions are answered in the materials that we’ve supplied. When Greg receives the application he will arrange a conference call to become acquainted.
You can expect the process to take two to three weeks and receive payouts within a week or two afterwards. This may be the best way to fund a project today.
Greg also has a $20,000,000 minimum funding 100% true JV and an in-ground and out-of-ground asset program that I have written about. Visit our websites for details.
http://www.workingcapitalfast.com 800+ pages
I spoke with Chris this morning. Time is of the essence. He has a Sovereign trade that will accept bonds backed by oil, gold, or silver issued between 1800 to 1975:
This came in from Chris:
———- Forwarded message ———-
You would need to drop what you are doing and get this in to me by Sunday in order to make the deadline…
IMPORTANT NOTICE: This electronic communication is covered by the Electronic Communications Privacy Act of 1986, Codified at 18 U.S.C 1367,2510-2521, 2701-2710, 3121-3126.
We have a prospect that needs a $5m POF for one year. He is in the construction business. He needs the POF to show financial substance. The loan is due to close June 15th. He needs to show POF in the next two weeks. He would prefer paying monthly if possible. What is the cost?
30 day $5m 1.5%, renewal 1.25% a month
60 day $5m 2.0%, renewal 1.75% 60 days
More from Tod:
IT WAS A REAL PLEASURE SPEAKING TO YOU. I WILL RESPOND TO THIS EMAIL WITH TWO EMAILS SO TO ELIMINATE ANY CONFUSION.
SBERBANK BG, RUSSIA. WE DO A NUMBER OF DEALS OUT OF RUSSIAN AND IT ALWAYS DEPENDS ON THE LEVEL OF SOPHISTICATION AND CREDIT WORTHINESS OF THE INSTITUTION AS TO WETHER WE CAN GET A DEAL DONE.
1-THEY NEED TO BE ABLE TO DELIVER THE INSTRUMENT VIA MT760 OR DTCC/EUROCLEAR “FREE DELIVERY”. OUR REQUIREMENTS ARE WE HAVE TO RECEIVE A CREDITWORTHY INSTRUMENT TO OUR LENDING BANK.
2-CREDITWORTHINESS OF THE BANK. BASED ON MY PAST EXPERIENCE, ONLY, HAVE NOT DONE DUE-DILIGENCE ON THE CREDITWORTHINESS OF THIS BANK. I WOULD ESTIMATE US DOING A LOAN BETWEEN 80-85% LTV, ONE YEAR TERM, 2 PT TO THE LENDER, 2 PTS TO THE ACTIVE INTERMEDIARIES, NET 81-76%. THIS COULD BE LOWER OR HIGHER AFTER RECEIVING THE KYC, COPY OF INSTRUMENT AND RWA.
We make NO INTEREST loans against BG, SBLC, CD, Bank Drafts and Sovereign Bonds.
How does it work. Provide a KYC, RWA and copy of instruments (attached). On “AA” rated instruments we make loans at 90% of face, 2 pts to lender and 2 pts to intermediaries. No daisy chains. On a 1-year term, at the end of the the term you pay back the 90% and get your instruments back. Lessor rated, “B” and “C” discounted more.
1-Provide a KYC, RWA and copy of instrument.
2-We verify in 24-48 hours, conference call with lender and client, then issue out Loan Agreements.
3-Upon receiving the executed Loan Agreement back we fund in a matter of days.
All intermediaries supply a CIS, Passport and wire instructions and are protected by a Master Fee Agreement.
FOR YOUR EASE PLEASE SEE ATTACHE KYC, TO BE COMPLETED BY THE OWNER OF THE INSTRUMENT AND RWA. I HAVE PROVIDED TWO SAMPLE TEXT FOR RWA’S. PLEASE ONLY USE THE RWA THAT COENSIDES WITH THE WAY THE CLIENT WISHES TO DELIVER, EITHER MT760 OR DTCC/EUROCLEAR. ONE OF THE OTHER, NOT BOTH.
HOPE I HAVE BEEN CLEAR WITH THIS EMAIL.
Waiting your favorable reply and successful completion of a transaction.
I had several long talks with Jay, our Preferred Proof of Funds Provider this month. Friday, April 30th Jay stated that the largest POF they have personally closed was $10 billion. They can go higher. There is no upper end limit. As long as it is not something illegal they will furnish the POF.
Marty asked the fee for a $10b POF: Jay replied 1.5% looking for the client to proof up for the $150m. If the client proofed for $75m Jay would use the completed application and POF to negotiate a lower fee.
My friend, Jerome, is an expert on funding start-ups. He is an Angel Investor that funds $50,000 to $350,000. He takes 10% to 15% equity.Learn how to get your foot in the door.
Add Discount Code: Cashflow CA – jp04221010
They are not here to look at projects. He’s here to give an education.
Introduction To Venture Capital
Friday, June 25, 2010 from 9:00 AM – 4:00 PM (ET)
White Plains, NY
Introduction To Venture Capital Process
Seminar & Networking Event
Featured Presenter: Jerome, Venture Capitalist
Location: White Plains, NY
Date & Time: Friday, Jun 25th, 2010 from 9:00 AM – 4:00 PM
Seminar & Networking Event Objective: Provide entrepreneurs and others searching for investors with an understanding of the typical VC deal screening process and the elements VCs look for when considering business deals for investment.
Key Topics Covered:
- Differentiating between angel investment and Venture Capital
- The stages of business development from initial concept to expansion along with rounds of financing
- The origins of a good VC deal: Trusted sources, a message to brokers and a word on “shopped” deals
- The final word on the importance of a quality executive summary and business plan
- Identifying key elements and show stoppers when screening deals
- An alternative funding option for those with assets and cash flow – What’s hot with SBA
- Utilizing an IT partner that recognizes the constraints of start-up resources
- How to get your foot in the door and build relationship with Angels and VCs
Who Should Attend:
- Financial consultants
- Individuals looking for networking opportunities
- Vendors and service providers seeking partnerships
- Individuals considering a new career, educators, and recent grads who are seeking a broader understanding of the VC process
Enter this discount code: Cashflow CA – jp04221010
I really appreciate your open expression of your faith and sharing the way with all who see it.
David Van Meter
You can see all comments on this post here:
We had a referral partner bring a $1.72 billion precious gem collection for monetization Friday April 16th. Here’s what I sent them:
OUT OF GROUND ASSETS
Get as much as possible as to all that applies.
Can monetize up to 90%LTV
The $ can then be placed into our Trade Platforms.
Send at the same time, do not piece mail.
*REQUIRED INFORMATION FOR OUT-OF-GROUND ASSETS
Precious Metals-Gold/Silver/Ore, etc. Precious Stones, Gems, Rubies Emeralds, Diamonds, Sapphire, Rare Coins MuseumQuality Antiques & Art works.
(PLEASE PUT THE LAST NAME OF OWNER OR FUNDING ENTITY AND ASSET IN THE E MAIL SUBJECT HEADING
SKR’S- IF AVAILABLE
FULL COPY OF THE POLICY IF ASSET HAS INSURANCE WRAP
APPRAISAL FROM A CERTIFIED/REGISTERED GEMOLOGIST NOT LESS THAN 90 DAYS OLD IF POSSIBLE.
PICTURES OF THE STONES/GOLD/ASSETS ETC.
FINANCIAL STATEMENT/NET WORTH FORM-PERSONAL & BUSINESS
WHERE THEY ARE HELD
HOW THEY ARE HELD
PROOF OF OWNERSHIP
USE OF FUNDS
Here’s an email Mark Molenaar sent to Jim Thursday April 22nd:
I strongly encourage you to read the email below and contact Joe Tufo about funding your green growth technology project!
I have followed Joe for several years and he is one of the guys I first thought of to put you in contact with. I’ve reviewed several projects with him and really appreciate his approach to funding and taking care of business. He’s a straight shooter and won’t waste your time. The only reason I didn’t refer you to him already last summer was that we were focused on finding a “proof of funds” lender and the lenders on his hot list at the time were similar to what you already had, but wasn’t proof of funds…. But guess what, I just got this email from Joe last week and it is specifically targeted to your needs. Please email or call him directly and let me know how it goes.
I believe this project will be right up your alley. Jim is CEO of a company called “Green Growth Technology”, they are men of integrity, they have excellent due diligence, and they have a compelling project with potential to generate over $250,000,000 within the first year operation.
But as is far too familiar, they haven’t been able to secure the funding necessary to put the plan into action. They had an investor in 2008 that was forced to back out in early 2009 due to economy (sound familiar?). Now they have a letter of intent for $17,000,000 but need proof of funds and its been hard to come by, and maybe we were just talking with the wrong investors (aka: not you). Your explanation below is exactly what we were trying to find and create last fall. This would be good.
My friend’s company has first rights to a land acquisition for a green technology park and mining operations – significant land resources for anthrocite, and butanol with a captive high BTU fuel supply at an extremely low $/mmBTU price. In addition to the full scale butanol projects, this site offers significant opportunities to divest the various non-core assets to provide both a return of invested capital as well as funds to further the mining development other power and fuel developments such as a coal to liquids facility, a synthetic natural gas facility, a natural gas combined cycle project, wind power project, and solar power project. In addition, if GGT is able to finish the first stage of this project, they have also secured the rights to purchase a significantly larger property to expand operational capacity. That could potentially include raising $100-300M funds which you and your affiliates may very well be able to provide.
Anyhow, I’m excited because I think this is really finally doable. Please anticipate a call in a few days.
Best Regards, I appreciate hearing how you’re still able to help people find funding in this economy.
Proof of Funds
We are committed to guiding you through today’s complicated credit environment by targeting your specific needs to insure future success for your business and yourself!
Types of processes our products assist with:
Net worth enhancements
Show of Downpayment
Reserved or Blocked funds
Oil and Commodity
Fund you Large Commercial projects
Proof of Collateral / Liquidity
Qualify for financing
Proof of Funds & Letters of Credit
Welcome to our boutique of financial instruments:
We offer proof of funds with financial backing of over $500billion in assets. Our funds are fully verifiable via bank swift (MT760, MT799, MT999 & MT103/23), bank call, VOD or soft escrow etc. Written Confirmations from 1 to 366 days up to $5B. Clients have utilized these funds for a variety of reasons. These programs aren’t to be used for any Arms, Drugs or any other transaction that are illegal. We do not qualify the use of these accounts.
Our programs exist of but are not limited to:
PROOF OF FUNDS – Investment Brokerage Account: Great to enhance and leverage your transactions with large funds at low costs.
PROOF OF FUNDS LETTER – Investment Brokerage Account: Works very well for Real Estate show of assets.
PROOF OF FUNDS – Top Bank: Enables clients to enter into new arenas of high yield opportunities.
LETTERS OF CREDIT – Investment Brokerage Account: SBLC- BG- DLC Etc. Great for Import/Export and other large transactions.
LETTERS OF CREDIT – Top Banks: Leverage large projects for high volume funding.
This is a Forex Master Trading Account.
Yes&hellip it is cash backed.
This account offers seasoning by request.
Amounts from $50K to $5B and at times higher.
VOD, phone and fax verifiable.
Swift MT799 by request for additional costs.
Funds can be blocked for the transaction and Administrative holds are available.
Great for showing proof of assets for real estate and other business transactions.
Verifiable by standard VOD, phone and fax verification.
Very inexpensive method of proof of fund.
8 week programs with extensions.
Starting from $1M and up.
MT799, MT760 Ping or Fax verification.
Blocked and reserved for the transaction.
SBLC/SLOC: Standby Letter of Credit.
DLC: Documentary Letter of Credit.
BCL: Bank Capabilities Letter.
BG: Bank Guarantee.
Up to $10B.
1 to 13 months with extensions.
Great for Import/Export and commodities.
– This acts as a guarantee of payment issued by a financial entity on behalf of a client that is used as “payment of last resort” should the client fail to fulfill a contractual commitment with a third party. Standby letters of credit are created as a sign of good faith in business transactions, and are proof of a buyer’s credit quality and repayment ability. The financial entity issuing the SLOC/SBLC will perform brief underwriting duties to ensure the viability of the contract and transaction, as well as the integrity of the party seeking the letter of credit. Typically, the letter of credit is cancelled as soon as the terms of the contract have been met by the purchaser or borrower. After due-diligence is concluded, the issuing process is 2-3 days.
Top US and European Banks
We pride ourselves with our success track record and effectiveness to produce results for you. Consider us your complete one stop source for Proof of Funds. Ask about our broker network program. Please note our arrangement fee is upfront (through escrow) and not as a success fee.
Procedures and Forms
1. Client, or client’s representative, will provide the necessary information to provide a quote. The minimum information needed is: the client’s name, email address, telephone number, and physical address, account funding amount, account term and type of account verification required.
2. A Term Sheet will be issued for the amount of funds requested by the Client. The Term Sheet will stipulate the Arrangement Fee, refundable processing costs, escrow fee and include a short application.
3. Upon receipt of the signed Term Sheet, processing fee, escrow fee, application and proof of ability to deposit the Arrangement Fee in the Escrow Account, a Principal Agreement will be issued detailing how the Proof of Funds is to be provided. The agreement will include provisions concerning delivery of confirmation documentation and terms of account use. Escrow instructions will also be provided so that the initial Arrangement Fee can be deposited by the Client into the Escrow Trust Account. It is a condition in the Escrow Agreement that in the event we do not open the Proof of Funds account, the Arrangement Fee will be returned in full to the Client by the Escrow Agent.
4. Concurrent with the Client’s execution of the Principal Agreement, the Client must deposit the initial Arrangement Fee into the Escrow Account. The Client will be required to provide the necessary documentation to complete the account establishment process. This information will include color copies of photo ID’s for all signatories; a second ID including address; Certificate of Good Standing or Incorporation, if applicant is a company; Employer Identification Number (if applicable) and Corporate resolutions (if applicable) and social security numbers for individuals. The Client will be a signatory on the account, but will be unable to conduct transactions or encumber the funds in the account in any manner.
5. Upon confirmation that the Arrangement Fee has been deposited by the Client into the Escrow Trust Account, the Proof of Funds Account will be opened in the Client’s name, and funds will be deposited into the POF account in the amount stipulated in the Principal Agreement.
6. The Arrangement Fee is released from the Trust Account when confirmation is provided to the Escrow Agent that the account has been set up in the client’s name, and that the appropriate funds have been deposited as stipulated in the Principal Agreement.
7. The Proof of Funds account will remain open for the Client’s use for the period of time stated in the Principal Agreement, and conditionally, may be extended through mutual agreement, and payment by the Client of the Arrangement Fee for such extensions, within five (5) days of the expiration of the current term.
Frequently Asked Questions
Proof of funds: blocked funds in a cash account with the client (personal or business name) on the account (master account) for a specified term. These moneys are not available to draw against, encumber … Etc.
Why do I need to pay your fee before you open the letter of credit? Can’t you take your fee out of the profits of our transaction?
We do not participate in the transactions of our clients as a party to the transaction other than providing the Letter of Credit. Our fees are the same regardless of the profit margin in the transaction.
Can I cancel my letter of credit after it has been opened?
All of the instruments that we issue are irrevocable and cannot be canceled except by the beneficiary.
What is the required cost to open a letter of credit?
We require an amount equal to ___% of the face value although in some instances the required amount may increase due to the amount of risk involved. When a client wishes to open a letter of credit, they are to present the details of the transaction so that we can make a decision based on its merit.
What is the maximum size letter of credit that you open?
We are able to open letters of credit of almost any size. We consider the complexity of the transaction such as the product that is being traded as well as other factors having to do with the parties involved and where they take place.
For what type of goods do you open letter of credit?
We can open letters of credit for any type of goods provided they fall into our ethical and legal criteria. That said, we will not get involved in transactions involving weaponry or ammunition under any circumstances.
I opened a letter of credit to my supplier, but he did not ship the goods. Will you refund my fee?
Once the letter of credit is opened your fee cannot be refunded. We recommend to all of our clients that they need to assure themselves of their suppliers’ ability to perform before opening any banking instruments to them.
DISCLAIMER: Sender is NOT a United States Securities Dealer or Broker or U.S. Investment Adviser. Sender is a consultant and makes no warranties or representations as to the buyer, seller or transaction. All due diligence is the responsibility of the buyer and seller. This E-mail letter and the attached related documents are never to be considered a solicitation for any purpose in any form or content. This document including any attachments hereto is a response to a formal request of information only. Upon receipt of these documents, the Recipient hereby acknowledges this disclaimer. These documents are not from any banking or other Institution. We do not provide securities or securities-related advice. No information herein shall be construed as a solicitation of investment funds or a securities offering in any way. These Confidential communications are protected under Gramm-Leach-Bailey Act 15 USC, Subchapter 1, sections 6801-6809 and other laws addressing the disclosure of Non-Public Personal Information.
This just came in from a Hard Money lender that I know here in CA Wednesday April 28th:
Multi family-5+units-We have an extreme appetite for this asset class.
Mixed use-We have an extreme appetite for this asset class.
Groups of n/o/o condos
Rehabs loans for multifamily.
O/O and N/O/O Residential.(SFR,Condos,2-4 units). We also have an extreme appetite for this asset class!
Properties I will consider:
Mobile home parks
Motel and Hotels flagged and non flagged-in conjunction with a capital partner
Gas Stations branded and non branded–in conjunction with a capital partner
Properties I will NOT lend on:
And yes Land
Golf courses-yes even if its Tiger Woods personal course.
Water treatment plants
Geo thermal power plants
Nuclear power plants
Clean green alternative fuel power plants
Disney Land-yes even if Mickey is going to personally guarantee it.
Up to 65% on really good deals.
Commercial-up to 1 to 5+ million and as low as 25K.
Trophy homes-up to 5 million!
To submit a package just send me the following:
-1003 or PFS
-Pictures of property-if commercial property
When you call us for help here are some of the questions that I’ll be asking you:
Cash Flow Specialists, Inc. Pre-Qualification Questions
- Who referred you to us?
- What did they say about us?
- Have you visited our websites to see how we do business?
- Do you understand that you will pay a consultation fee to move your project forward?
- How much money are you looking for?
- When do you need it?
- Do you have an Executive Summary that is one to four pages long?
- Do you have a written Business Plan?
- Do you have bio’s of key people prepared?
- Do you have a detailed use of funds broken down monthly for the first year and quarterly thereafter?
- Do you have a 5-year proforma?
- Do you have a written Exit Strategy?
- Do you have a tri-merge credit report dated within the past 30 days that you personally pulled?
- What was your credit score when you last pulled it?
- Have you filed bankruptcy?
- Have you had a foreclosure or given your keys back to a lender?
- How many liens or judgments do you have?
- How many derogatories?
- How many inquiries?
- Are you a paid member of http://www.CreditCheckTotal.com?
- Are you willing to have a 3rd party verification service record your understanding of our fully earned, non-refundable consultation fee?
- Do you have a personal financial statement dated within the past 60 days?
- Do you have a business financial statement dated within the past 60 days?
- Do you have the past three years of business tax returns?
- Do you have the past three years of personal tax returns?
Commercial Real Estate Jargon Buster
From Chris McLaughlin
Real estate can be a complex and confusing area but in our ever expanding effort to follow the KISS directive, we are proud to present a real life interpretation for modern day real estate lingo. While you may not find these definitions in sync with the latest version of Webster’s Dictionary, we think you will agree they accurately reflect the state of affairs.
PAD: A stand alone building in a prime location of a large shopping center…or, what banks are doing with bail-out funding while waiting for the next shoe to drop.
Anchored Tenants: A big brand-name national tenant…or a commercial tenant that can’t afford to relocate across the street much less across town.
Gross Lease: A lease where the tenants are supposed to pay the rent while the landlord or property owner pays the taxes, insurance and maintenance. Given the rising cost of property taxes and insurance, the standard definition will suffice.
GRM: Gross Rent Multiplier or the ratio of purchase price over annual income. In many commercial divisions that bought during the boom, the GRM can perform the rare and somewhat elusive feat of multiplying negative numbers.
LOI: Typically this stands for Letter of Intent or a non-binding offer letter use to purchase a commercial property. In today’s tough commercial market it could also stand for “Loss of Interest” as short sales continue to climb among many retail spaces.
Absorption: The amount of inventory or units of a specific commercial property type that become occupied during a specified time period…or the amount of money being soaked up by the under-performing property.
Cash Flow After Taxes/ES – The net operating income less mortgage, improvements, property taxes etc…or, a non-existent state among many retail operations bought over the past several years.
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Joe Tufo, Certified Cash Flow Consultant, Certified Capital Specialist
CASH FLOW SPECIALISTS, INC.
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Alamo CA 94507
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