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Podcast: How to Lend Money to Strangers
Episode: Lending against distressed properties not to distressed borrowers, with Todd Pigott (ZINC)
Description: "Distressed property can always be repaired, not so distressed people. And so we focus on distressed properties. And that platform has worked very, very well for us: I've done a billion dollars of this, and I will tell you, I have never ever lent on a property that I was not able to fix."The modern mortgage model is designed to work at scale, so when a deal pops up that's a little outside the norm it can often be more efficient to say no quickly than to spend time thinking it over...