Commercial Paper - Posted by MN~Chicago


#1

Posted by MN~Chicago on November 11, 1998 at 15:19:15:

My first post below did not show up when
I logged on, but did show up after I
posted the second one.


#2

Commercial Paper - Posted by MN~Chicago

Posted by MN~Chicago on November 11, 1998 at 15:13:56:

John:

I made a presentation to a real estate attorney
heavy into real estate and investors for same.

My intent was to put together a $5 million fund
for notes, but I wasn’t sure how versed he was
in them.

I found out when he replied, “You don’t need a
fund. I just did a $33 million deal with a 3.5%
interest spread. You find the deals, and there
is more than enough money available. Call these
3 banks. I expect some more fall out over the
next 6 months and more opportunities.”

He gave me some bank names, but this is not quite
what I expected. I told him what I had in mind
were somewhat smaller notes. He is very precise
in how he conducts business. The thought occurred
to me about improving portfolios, but I do not know
if it is as appropriate for commercial notes.

It seemed more prudent to take the information I had
just learned than to show how little I knew about
what he was doing. His deal involved a foreclosure
loan.

I left my material with him which advocated doing
discounted mortgage notes on SFHs. I spent 3 days
putting the proposal together, but it looks like
a different tact may be more appropriate.

Any ideas on how to pursue this kind of potential?

Thanks,
Michael Noonan