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Come on man, it is only for 20% of value so they can get a conventional loan using that 20% of value loan for a down payment. I hope you don't find this shocking, California has treated foreign born people better than USA born for ages. My personal experience goes back a tick over 40 years. I used to work across the street from a East Los Angeles produce district/borderline Skid Row landmark, closed for like 30 years, Vickman's Bakery whose closure after 74 years in business made the LA Times front page.
Any how my always curious and knowing I wanted to keep trying my own business after failure #1 (Had to hang up being a timber operator because of my back). I would always converse with local business owners. I worked for an electric wholesale house so I could use sales calls to get information I could use myself. I did not think that was disloyal as I was always breaking sales records. I would just introduce myself and say who I worked for and if they had a breakdown of an electrical item tell their maintenance man or an electrician where we are at and we have stock of items they will not find at hardware stores or most electrical supply houses. I would then ask about how they got where they were today, throw them a few compliments and you get their life story.
At the time as is probably now prime location business property in Los Angeles sold and rented for a premium, even if it was close to being condemned for not meeting earthquake standards, no grandfathering in for that in Cali. Thinking no way in hell some people's business model would make much operating out of the high rent district, I would ask, with rent here sky high you must have great margins and gross sales. I would get "What you mean high rent?" I own this place, pay $400 a month, no problem." I even got a Korean born guy to show me how he got a prime location hole in the wall spot for that $400 a month. He was telling the truth, he bought for a longer term for most business loans, and got 3% interest when most were paying 12-16%. All sponsored by our USA government, unavailable to our own citizens born on USA soil.
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