Author Topic: Looking for P2P lending partner to fund secured note opportunities  (Read 7134 times)

Evofinancial

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In March of this year we will be launching Evo Financial with offices located in San Diego and Los Angeles California.  Evo Financial will be offering a hybrid financial product utilizing tax benefits from green technologies to new potential home owners.  In essence we are looking for private lending partners to fund the upfront tax credit on solar systems rather than having the clients.  The average upfront tax credit runs about $15,000.  The loan will be able to be secured to the home and we want to be able to offer 1, 3, and 5 year terms in the 9.99% range.   We are hoping to find a long term partner for this type of financing as our business grows into the southern California area.  If anyone would like any further information regarding this opportunity or knows someone who may be interested please email danielwilliams@evofinancial.com.   

dontvote

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #1 on: February 05, 2014, 12:13:06 PM »
I don't really understand what you guys do from this description but I have a house and am considering solar. I guess I'm a potential client. I'm not sure how a 1 year loan would help me on a 10-30 year investment in solar though.
dontvote

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core

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #2 on: February 05, 2014, 12:34:20 PM »
I'm not sure how a 1 year loan would help me on a 10-30 year investment in solar though.

I think he's saying the loan is just until the person files their taxes the next year and gets a hefty return due to the tax credit.  The person wanting the PV panels would still need to put up a substantial sum of cash on their own, not related to these loans (if I'm understanding this). 

dontvote

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #3 on: February 05, 2014, 05:58:03 PM »
I haven't looked too deeply but my understanding is that when you sign the contract for installation the solar company gets the rights to your refund at the same time you get the bill, thus immediately reducing your bill. I don't think they charge a financing fee for this.
dontvote

Interest Radar IRR: 46.11%
NSR ROI: 41.22%
Average Loan Age: Your Moms

core

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #4 on: February 05, 2014, 06:02:48 PM »
I haven't looked too deeply but my understanding is that when you sign the contract for installation the solar company gets the rights to your refund at the same time you get the bill, thus immediately reducing your bill. I don't think they charge a financing fee for this.

That would completely depend on the solar company.  Sounds like you have some generous companies out there where you are, because I haven't heard of this.  I'm not sure how one can even sign away the rights to a refund, when you may be getting refund monies that are totally unrelated to the solar install.  Then what's to stop someone from just adjusting their estimated tax payments so they don't get a refund at all, thus making the solar company's little agreement worthless?  Sounds dicey to me.

dontvote

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #5 on: February 05, 2014, 06:07:59 PM »
welp, first its a tax credit so has nothing to do with your income or other shenanigans. second to get the tax credit you have to submit the invoice from the installation company so either you file the paperwork or they do. I'll look into it in april so I can be a little more certain.
dontvote

Interest Radar IRR: 46.11%
NSR ROI: 41.22%
Average Loan Age: Your Moms

core

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #6 on: February 05, 2014, 06:32:58 PM »
welp, first its a tax credit so has nothing to do with your income or other shenanigans.

Yes it's a tax credit so it comes right off of what you owe.  Or gets added to what you are already due to be refunded.  A tax credit is not a check in the mail, as you well know.  If I owe $15k that year (or even in BACK taxes) then I will get nothing back.  The installer can go pound sand.  Maybe CA is sending out checks.  That would be a different matter.  The installer can send in whatever paperwork they want to but they cannot file a return on your behalf.

Bohb Daishi

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #7 on: February 06, 2014, 01:57:50 AM »
welp, first its a tax credit so has nothing to do with your income or other shenanigans.

Yes it's a tax credit so it comes right off of what you owe.  Or gets added to what you are already due to be refunded.  A tax credit is not a check in the mail, as you well know.  If I owe $15k that year (or even in BACK taxes) then I will get nothing back.  The installer can go pound sand.  Maybe CA is sending out checks.  That would be a different matter.  The installer can send in whatever paperwork they want to but they cannot file a return on your behalf.

You still wouldn't get out of repaying the installer. They will very likely send you to a collections agency, file a lean, or heck even sue you in court.
There are three ways to make a living in this business: be first, be smarter, or cheat.

core

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #8 on: February 06, 2014, 02:11:12 AM »
You still wouldn't get out of repaying the installer. They will very likely send you to a collections agency, file a lean, or heck even sue you in court.

Collection agencies don't make you pay.  That's why collection agencies make money.  Judgements don't either.  Nor do liens, not anytime soon anyway.  This whole scheme isn't much better than loaning money for Joe's new sheep farm on LC.  There are lots of judgements on the records at LC.  This loan scheme is "secured", I'll give it that.  But you're still just relying on that person to pay.  This business about the tax credit is smoke and mirrors.

Daniel, please post the addresses of your new offices so we can do our due diligence before investing.  If you have a bail bondsman in the same building that would be a huge plus.

Bohb Daishi

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #9 on: February 06, 2014, 02:39:52 AM »
Daniel, please post the addresses of your new offices so we can do our due diligence before investing.  If you have a bail bondsman in the same building that would be a huge plus.

Haha! I wonder if Daric is as successful as they hoped to be...
There are three ways to make a living in this business: be first, be smarter, or cheat.

Evofinancial

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #10 on: February 06, 2014, 09:59:29 PM »
Gentleman sorry for the late response I was expecting to get an email when these threads were posted, sorry I'm new to this site.  I will be happy to provide a detailed business plan via email to those who would like more information regarding this lending opportunity.  I thank you for your interest and please email me at danielwilliams@evofinancial.com

core

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Re: Looking for P2P lending partner to fund secured note opportunities
« Reply #11 on: February 06, 2014, 11:08:28 PM »
In other words, you do not want to discuss it out in the open.  I don't blame you.  When you've got someone one-on-one it's much easier to control the questions that get asked and the answers that are given.