Posted by John Behle on May 13, 1999 at 16:18:27:
Actually that was intended for someone else on the board that I’ve placed some money with. As I was typing out my answer about not trusting and relying on someone else, I wanted to remind him that I’ve placed some trust in him. Sorry. Private joke intended for someone else as a gentle reminder. I never even thought of the name being Italian nor meant any offense.
Part of the joke is I’m the last person that ever wants to have to collect from someone or hold some third party responsible for a deal. I wanted to drive home the point of not wanting to be in that position.
The only assurance I have of getting paid for a note - or any other investment - is the collateral. Sometimes potential note investors do not realize the differences between “hard money lending” to people with poor credit and buying a nice safe note. It isn’t the same. People are drawn to it because it seems easier to let a broker do the leg work. In the long run, many times they are burned.