Offered by the broker below. I am new to real estate development and have 3 contruction projects in which I am seeking funding. Is what is set out below plausible?
Thanks,
Bil
This is a program unsurpassed by anthing we have seen yet. Available for the USA and your International projects. Minimum is, $10,000,000 with no maximum loan amount. This is how it works:
EXAMPLE
Loan Request: $100,000,000
Interest Rate: 7.50 - 8.50% (I/O) Bond is issued at closing
Term: 5 years (Totally self-liquidating)
Pre-pay penalty: None
Funding Time Frame: 31-45 days (Approximately)
You pay interest only for the 5 years. The bond self-liquidates the principal. Under this scenario if you keep the loan for the 5 year term you would end up paying back around $50,000,000 (estimated). No more payments, "PAID IN FULL". You can not beat that anywhere.
This program has a proven track record. It WORKS.....
Fee's attached to this program:
$50K 1st $50M Underwriting/Processing Fee of Borrowered Loan Amount with a maximum cap of $110,000 per project.
Fee's are Refundable if they do NOT fund with possibly exception $10K of the Underwriting Processing Fee's. (at the discretion of Hedge Fund Management Group) However, this may be discussed directly with the Hedge Fund Managers during initial conference call and Due Diligence process.
Questions commonly asked:
Who is the Hedge Fund?
Major Wall Street Hedge Fund with offices in the Carribean, Switzerland, London and Australia. This is disclosed at time of engagement to the Principal.
How does the Bond get issued?
The Bond is issued at the time the contract is signed in the full loan amount. The Bond matures in 5 years, in essence, double it's value and therefore the Principal on the loan is self liquadated.
How does the procedure work?
Must have a Executive Summary and Full Professional Business Plan to submit. Graco Mortgage Services Agreement is Executed with brokers points included, project submitted. We will hear approval or rejection within 24 hours to a couple of days. Once approved, conference call takes place with Principal and Hedge Fund Managers, all Due Dilgence questions are addressed (note: NO FINANCIAL OBLIGATION AT THIS TIME). Principal may also request a direct conference call with the Attorneys of the Hedge Fund.
When is the LOI issued?
LOI is issued after the review process of the project. They have 7 days to respond, terms are stated in the LOI. Hedge Fund fees are returned with the signed LOI. LOI is usually issued within 3-5 days of submittal.
Can the Hedge Fund fees be placed in Escrow?
The Principal has the the option of placing the fees in the Hedge Fund Managers Escrow Account which is all set up as a Draw Down Account. As services are rendered, fees are drawn and simultaneously invoices issued to Principal.
How soon is funding accomplished?
Funding is usually 6-9 weeks from the signed LOI, hard contract is signed within a few weeks of LOI return. Hard contract states CLOSING DATE. This contract is a table top signing in New York and takes place within 2-3 weeks after signed LOI is returned with Hedge Fund Fees.
This is a very simple straightforward process.
For further information, contact:
Ray Grant Marybeth Bonjour
970-663-7306 310-678-6899
these things always come up when the market gets tough, they usually do not work and end up as upfront scams.
In general there in a problem with the legalese, there is one in the collateral setup and jurisdictional issues.
In order to properly assess the scheme there is more details required but a suspicious nature will serve you good.
I am not saying it can not be done but I say that you need to work in good structures with good people and the offer here does not seem to be compliant
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Do not put your fees or any of your own funds into escrow or pay up-front fees---to anyone in this Industry!!! I lost $300k USD doing this same project funding scenario!!! And the ABN AMRO bg was a fake!!! The FBI is now after these crooks!!!! Any real honest project funding everyone gets paid at funding at the bank!!!!
Good luck,
Mike
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I'm curious, did they ask you to put your 300k in an escrow account that would require 2 signitures? If not how did you lose it, and what was the name(s) of the company/people you were dealing with?
I have one program that is asking me to provide proof of funds of 525k, then move it into an escrow account (as a qualifying instrument) for (90 days)that will require 2 signitures (mine and theirs)in order to transact on the account. They tell me that 21-28 days after the qualifying instrument is in place I will begin to receive my funding. I am not required to put the qualifying instrument in place until after the contract is signed. Was your process anything like this???
thanks,
bil
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No, it was not a 2 signature account!!!! I had a contract with claude broussard, fairchild investments, mayfair trust!!! They gave me a bg from Abn AMRO Bank for my project funding -------it was a fraud------and by the time the bank told me it was a fraud and the authorities got involved the funds had been moved offshore from the ny escrow account!!!! The FBI told me this was one of the biggest scams they had seen----100's of victims on this scam!!! And he was arrested in London and the victims are still awaiting the trial!!!
Do not trust escrow---or pay up-front fees to anyone---just ask your local FBI office!!!! Everyone should be paid at the closing at the bank!!!
good luck, Mike
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Claude A. Broussard is a fourth generation Texan. He was born and raised in Longview. He received a musical scholarship from Kilgore College in 1953. He joined the U.S. Army in 1955 where he spent the next seventeen years serving his country and taking correspondent education courses. During that time Broussard received a BA, Masters and Ph.D. in business from the University of San Moritz, an unaccredited university located in the United Kingdom. For his military service, he received two Purple Heart awards for combat wounds, two Valor awards for heroism, the Vietnam Cross of Gallantry with Palm, the Bronze Star Medal for Valor, and many other campaign and good conduct awards. He was an outstanding soldier, officer, and always a gentleman.
Broussard spent his first few years after the military as President and Chief Executive Officer of several international businesses, which included one of the largest independent international money brokerage firms in the world. During this time there, he gained a tremendous amount of experience and knowledge in purchasing commercial mortgages notes and obtaining funds for various commercial projects. Broussard also served as the President of a national swimming pool construction firm where he gained experience filing second liens on property throughout the United States.
Broussard has written several books and training manuals, including: Passport to Good Credit, Applying for a Conventional Personal Loan, Applying for a Commercial Loan, Directory of Venture Capital Lenders, World Wide Missing Persons and Heir Finders, Your Passport to Success in the Mortgage Note Purchasing Business, The Mortgage Note Wealth Builder, and next Make a Fortune with Mortgage Notes, which is a culmination of all his experience, knowledge and work in the purchasing of Mortgage Notes. Broussard has also completed the very voluminous The Cash Manufacturing Device and The Supplemental Manual to The Mortgage Note Wealth Builder, both currently offered to the public and recently he completed "The Protocol Training Manual For Obtaining Commitments For Credit Enhancements, International Loans And Proof of Funds".
...
Broussard was a qualified licensed Securities Broker for several years and has an unblemished record of honesty, integrity and fair dealing with all institutions which he has done business in the Securities Arena. Broussard was an institutional broker and did business with banks, government agencies, major brokerage firms, insurance companies, pension funds and other financial institutions. Broussard has easily exceeded a billion dollars in business of trading securities and the purchase and sale of mortgage notes. No investor has ever failed to make a profit once they were associated with him, which is by far the best business compliment that can be reflected toward Mr. Broussard.
Currently, Broussard is the President of Fairchild Investments, Inc. and acts as a direct coordinator to Trusts, Insurance Companies, and Funding Institutions for viable Commitment Request for Loans, Proof of Funds and Credit Enhancements requested by clients throughout the free world. All dealings with others are always accomplished in a professional manner, with complete and total confidentiality and he is more than receptive to being available to answer questions for any and all Representative. 2. Isrrael Silva isrraelsilva
www.bobsilverstein.com/AAACont
Claude A. Broussard, Ph.D., Director, Fairchild Investments (via Barbara Forman) Email = claudeb@pdq.net www.fairchildinvestments.com
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or Claude Broussard = FairchildInvestments@earthlink.net fax = (713) 953-7973
Claude A. Broussard is a fourth generation Texan. He was born and raised in Longview. He received a musical scholarship from Kilgore College in 1953. He joined the U.S. Army in 1955 where he spent the next seventeen years serving his country. For his military service , he received two Purple Heart awards for combat wounds , two Valor awards for heroism , the Vietnam Cross of Gallantry with Palm , the Bronze Star Medal for Valor , and many other campaign and good conduct awards. He was an outstanding soldier , officer , and always a gentleman.
Broussard spent his first few years after the military as President and Chief Executive Officer of several international businesses , which included one of the largest money brokerage firms in the world. During his time there , he gained a tremendous amount of experience and knowledge in purchasing commercial mortgages and obtaining funds for various commercial projects. Broussard also served as the President of a national swimming pool construction firm where he gained experience filing second liens on property throughout the United States.
Broussard has written several books and training manuals , including : Passport to Good Credit , Applying for a Conventional Personal Loan , Applying for a Commercial Loan , Directory of Venture Capital Lenders , World Wide Missing Persons and Heir Finders , Your Passport to Success in the Mortgage Note Purchasing Business , The Mortgage Note Wealth Builder , and next Make a Fortune with Mortgage Notes , which is a culmination of all his experience , knowledge and work in the purchasing of Mortgage Notes. Broussard has recently completed the very voluminous The Cash Manufacturing Device and The Supplemental Manual to The Mortgage Note Wealth Builder , both currently offered to the public. Broussard has over the years purchased commercial , residential , land notes , contract for deed , mobile home with land mortgage notes in the hundreds of millions of dollars.
Broussard was a qualified licensed Securities Broker for several years and has an unblemished record of honesty , integrity and fair dealing with all institutions which he has done business in the Securities Arena. In total purchases and sales of securities and mortgage notes , Broussard has easily exceeded a billion dollars in business. No investor has ever failed to make a profit once they were associated with him , which is by far the best business compliment which can be reflected toward Mr. Broussard.
Currently , Broussard is a Director for Fairchild Investments and acts as a direct coordinator to Trusts , Insurance Companies , and Funding Institutions for viable Commitment Request for Loans and Credit Enhancements submitted by clients throughout the free world. All dealings with others are always accomplished in a professional manner and he is more than receptive to being available for any Representative. All requests for Commitments are always expedited and approvals or rejections are forthcoming within not more than 16 working hours.
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TRB, Renab, Tony Cohen Enriquez, I have told you once before to stay out of my business------Go Away!!!! Stupid I told them the case is pending!!!
Go bother others with your fake banker Wells Fargo bull and your fake names johnny LaChingabeuy---and now carlyfornia!!!! And your fake AE Foundation!!! You have attacked me on the other boards with all your fake names and threats!!!
Mike Lindley
Therealmikespumps
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Once again, Mike Lindley is providing us with his sub-homo sapient comments. Now, he is making accusations that I am someone new. Your level of stupidity is beyond my grasp of understanding.
So far, all your claims cannot be independently verified and like I said before: A fool will always be a fool.
The court system does not operate the way you are suggesting. How naive do you think we are? Just because you lack education, does not mean the rest of us are at your same level.
And Mike, for your information: I am not Santa Claus....just in case you try to blame me for you not getting anything this Christmas.
Trb
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I hope this group will not see the same discusion of the matters as they are done in some other fori.
I have to say that in regards of Fairchild there is a legal history and Broussard does not get any positive listing for the things he posted at certain sites, I would not do business with him on the basis he has posted, so there would be a need for additional details anyway.
on the matter discussed here, enough said
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My company received the same basic loan structure from Graco Mortgage, and like you we are somewhat suspicous, only because it looks almost too good to be true.
Have you since moved forward with Graco, and if so is there any first hand information you can provide? Any information would be greatly appreciated.
Elliot
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