"That's a total of ... three million two hundred and forty-four thousand dollars!"
In Joe Gleeman's office, he looked at the tally in his hands with some awe and couldn't help but let out an exclamation.
When Lynch had told him that there were almost several million dollars in collateral, Joe Gleeman had thought that it was probably an exaggeration, a situation that was common in the financial field.
The various installments, credits, and discounts that were cashed in made it so that you never had much faith in the numbers that came out of someone else's mouth, and he didn't expect Lynch to surprise him.
He set the tally sheet down and adjusted his sitting position slightly, "Very impressive numbers, but you should know that I can't possibly lend you the money at the appraised value, fifty percent at most, no more!"
He rattled the spreadsheet again with his hand, an expression of some regret showing on his face, "These aren't quality resources, and the bank's risk is still high, so ...", he shrugged and looked back at Lynch.
The bank has its own professional appraisers, and when they counted these things, they found that they didn't contain the kind of valuables that are very dense and can be taken off immediately, like precious metals like gold, or some jewelry and other things that are easy to liquidate.
Instead, there are some ... things that are not so easy to get rid of, such as some daily supplies, some appliances, which are mostly houses and cars.
Sabine is not a big city, not the capital of a state, much less the center of the Commonwealth, where the value of a house is not very secure, and most of the houses mortgaged in these arrangements are houses in ordinary neighborhoods, not in middle class neighborhoods or uptown.
The properties that are worth money in small cities are basically those houses in middle class and upper class neighborhoods that sit on the best lots, with the best views and the most complete amenities.
Such houses are easy to sell as long as they are a little below market value, ten to fifteen percent, so to speak, immediately.
But this would not be the case for houses in civilian neighborhoods; real estate development in civilian and ghetto areas, especially residential development, was a thankless task, and the slow sales cycle could easily drag down real estate developers.
Add to that the fact that some people like to mess around, and these poor people like to break into houses that aren't being sold to live in, and they often get into trouble.
Local laws in some states of the Union have made it so that after living in someone else's house for a certain number of years, you can naturally acquire the title to that house, which has made a lot of people even more eager to look for houses that haven't been sold to live in, or empty houses that have been moved away.
The chaotic environment of the gentrified and slum areas, with all its creepy street culture, is what limits the rise of these prices, which is not to say that they aren't worth something, it's just that it's hard to cash in on their actual value.
The same goes for cars, there are no luxury car brands, most of them are ordinary car brands and have some years left in them, some of them are considered by some appraisers to be possibly stolen cars that have given up on recovery.
The road to realizing these things is full of twists and turns, and it's hard to say if you'll be able to keep your money when you get your hands on it.
If Lynch had really wanted to trade these things for a sum of money, and it was just this one transaction, Joe Gleeman would have been more cautious, to the point of refusing to do business with Lynch, and he would have preferred not to have the transaction rather than take the risk.
But he had understood Lynch's thinking, that the money he gave Lynch, Lynch would take to GET NOW Finance and realize the ongoing rotation.
Over time, more similar agreements would be pledged to the bank, and eventually it would roll over into a staggering amount, so he didn't mind such a deal.
Joe Gleeman thought for a moment, "I'll give you up to one million six hundred thousand dollars!" He felt that was a pretty safe price, and Lynch had no reason to object; for one million six hundred thousand, he would get one hundred sixty thousand for his services, and almost double to double the expected profit.
This deal alone brought Lynch no less than two hundred and fifty thousand dollars, which was much faster than making change, and he didn't have to pay the bank a penny in interest.
The interest is paid by Get Now in the form of a "management fee" paid to Dyson Asset Management, which is entrusted with the complete management of the assets.
In other words, Dyson Asset Management completely severed the relationship between GET NOW Finance and Gold Way Bank throughout the process, and that was the basis on which they were able to work together.
Lynch didn't fight for more than his share of the bite to agree to make Joe Gleeman feel better, and he had a lot more smiles on his face, "Do you want a check, cashier's check, money order or wire transfer?"
So far the checks of the six major federal banks are all limited, they simply can't issue million dollar cash checks, they can't even issue transfer checks, checks are too easy to forge, plus some technical reasons, it's hard to realize.
Joe Gleeman actually meant small cash checks, though Lynch obviously disagreed.
"I want cash!" as soon as his words left Joe Gleeman's mouth, it's not that the bank can't get this cash, it's just that a large amount of cash coming out of the closet requires a series of formalities that are a bit cumbersome, and it might also require two people from the police department to cooperate with them.
Looking at Joe Gleeman's expression, Lynch frowned slightly for a moment, and then he stretched out randomly, looking very unconcerned, "Can't you?"
Joe Gleeman thought for a while and finally nodded, "It's not impossible, it's just tedious, there are a lot of processes here, I have to do the documentation and then send it to the branch and headquarters, as well as some other legal processes, it will take at least four to five days."
"I can wait!" In the face of these difficulties, Lynch did not flinch in the slightest, the two stared at each other for two or three seconds, Joe Gleeman nodded his head and said that he would close the deal as soon as possible.
Lynch stood up at the right time, "So ...".
Joe Gleeman also stood up and extended his hand across the desk, "Happy working together!"
After sending Lynch away, Joe Gleeman smiled and shook his head, he knew why Lynch wanted cash and had such a strong attitude.
Millions of cash from the certificate is enough for Lynch to confuse them into more cash, to put it simply, the bank issued a certificate proving that Lynch took out one million six hundred thousand dollars in cash from the bank, then in the subsequent work, as long as he doesn't take out more than one million six hundred thousand dollars in cash at one time, it can be said to be legal as long as he is smart enough to do so.
In other words, Lynch could have put more, a million, two million or even more, into that certificate and washed it completely clean, what a smart guy!
With this deal signed and a series of follow-ups to come, Joe Gleeman was in high spirits, and at the end of the evening three of his men took him out to celebrate, they were probably going to get a good share of this deal, and they had reason to indulge.
This is the daily routine of a job that involves money, making money, making a lot of money, and then indulging completely, and on and on it goes.
Joe Gleeman declined their invitation, as head of the credit department he wasn't really in a position to be seen with them at this time, he had to excuse himself.
He parked the car as he drove back to the house and unconsciously glanced at the mailbox as he walked across the yard; people like him received letters from all over the country every day, some from colleagues, some self-directed from large foundations, and a number of subscriptions or free financial services from various financial institutions.
After dinner in the evening, some time with his wife and children, and a little television, he went back to his study alone and began to read the letters.
To his surprise, the first letter actually had no postmark, nothing on the envelope, no sender, no recipient, not even a word.
The room was never as well lit at night as it was during the day, and his dilated pupils rapidly constricted when he saw what was inside the envelope.
A check, for thirty thousand dollars, and the check still smelled of ink!
There was nothing on the envelope, but he knew where the check came from.