Posted by Wile E on July 28, 2012 at 04:10:13 from (68.188.184.133):
In Reply to: OT - I hate banks... posted by Lyndon - AB on July 27, 2012 at 12:06:11:
One thing to think about. I know of a home builder that wanted to buy a track of land say 40 acres. But they need 1 million dollars to buy the land. So....A bank will not loan him the money so they go to a wealthy investor, also known as a venture capitalist. A legal document is drawn up that says if the builder defaults on the repayment of the 1 million the venture capitalist gets the 40 acres. The guy loaning the money usually gets paid back the 1 million with 15% return in 1 or 2 years. And a subdivision is put in and the builder makes his money. Isnt capitalism a great thing. You need to find a wealthy uncle.
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