Question:
The Norris Group is now offering 9% loans, that have 2yr prepayment penalty, 8 years amortization. Do you make loans to students?
-Student
Answer:
I do not make loans to students. What I do is, on occasion, I will go in on a deal or I will participate, I will facilitate, I will do all those kinds of things. But I don’t make loans to students; I make loans to real estate. And it really has to do with a lot of different elements. To be frank with you, I consider The Norris Group to be the best bet for loans.
If you get into a weird situation in the future where you need to twist and bend things and try to figure out deals that don’t make any sense, Bill Tan is one of the best people for things like that. I’m talking about people that I trust. I don’t suggest names just because they’re out there doing stuff. I don’t accept money from anybody for anything except for what I do. And so when I give you advice on something it’s because it’s solid. The Norris Group, I think is a wonderful company and they’re a no-nonsense company. Bruce is a no-nonsense kind of person. When he makes a decision to make a loan he makes it because it’s a solid loan for YOU AND THEM. So if they tell you to walk on a deal, it’s because they realize you’re going to hurt yourself. So, I recommend them.
I get involved, but first and foremost is the stuff I’m doing. I have people bring me deals where the numbers make sense and yeah I bite down like a pit bull, why not? But, I have to be working closely with people to really understand them and trust them. More times than not, I’ll be honest with you, I’ll show you how to do it so you don’t need me, or you can have someone else involved and pay them. Here’s the reason, I don’t need the money.