Catherine Bell identifies red flags in real estate deals, particularly when sellers demand a first-position lien instead of accepting a second-position one. If a property were actually secure, she says, the seller wouldn't need that control.
Are you in the deal room? Find liars and bullshit, bullshit artists. Okay, so we, we went through— it was so— I'm so glad that we did have that. We went through it and we found it because again, like, them getting hung up on first position lien was a red flag. Like, if they're so secure this property is in that great a position to move, why would they not take a second position lien? You know, the first position lien, yeah, it's, it's traditional, but that's if we're bringing— only having to bring $4 million.
