Quote:
Originally Posted by Barefootsies
I should probably include some back story for a more realistic, fair, assessment.
1. Person asking is minority business partner in porn company.
2. He owns half million dollar house.
3. Has a 44 foot yacht.
4. Owns something like 20-30 rental properties.
5. Has a half a dozen car washes.
So it's not like it's some, broke as a joke, family member or friend. He is asset rich, just no liquid cash on hand that he can easily get to. He wants to pick up this new car wash as he is moving from real estate to car washes for his main investments.
I had helped him previously with a $4,000.00 loan, and he paid it back in 10 days time. But I am having a hard time choking down $20,000.00.
|
Easy then, have him sign over ownership to the yacht or something equivalent to 20k as collateral. Then you sign it back over after he pays you back.