GOLF COURSE OWNERS: DEALING WITH YOUR BANKER... YOU NEED TO GO ON THE OFFENSIVE! I'm watching ruthless treatment by banks to top-notch golf course owner-operators who have been solid bank customers: Mortgage payments on time every time for the entire loan term Golf course operated in a business like manner Golf course in excellent condition Taxes and all other obligations met 100% Open dialogue with their loan officers at all times Smart adjustments to economies of 2010 Solid community members Excellent earnings track record Clubhouse and Maintenance fully conforming Consistent marketing Yet the banker treats the owner like an everyday bad loan. THIS IS A TRUE STORY... Last month a golf course owner called me about his bank dilemma. He was asked to attend a meeting at the bank office to discuss his impending balloon date - due later this year (2010). His loan officer of several years was friendly and sounded helpful and supportive. But another banker was also at the meeting (I won't name the bank, but it was one of those that took that fat government handout). After the greetings, hand shakes, and small talk the the new banker took over the meeting. Unfortunately, the golf course owner received the shock of his life! The new person at the loan desk was a new loan officer (better named the Grim Reaper!). The suddenly replaced former loan officer was there, but held a silent seat in the meeting. With cordiality out of the way, the new loan officer (the bank's hatchet-man) dropped the bomb: "Your loan will not be renewed, so you'd better make arrangements to pay us off. Not only that, but our review of your financial statements indicates you fell below the DSR (in the fine print), which triggers default. The bank has already begun foreclosure proceedings." "I also need to remind you that additional fees are due as a result of your default status. As you'll see by the loan documents you are liable for various penalties. If you cannot pay these fees they will be added to your loan balance." Virtually gasping in disbelief the hard working golf course owner was stuck for words. He sees his five years of working his butt off, making his loan payments to the banker on time every time, disappear in a second. In the owner's mind, he felt proud that he was a good bank customer - a top-notch credit risk. The (new) loan officer continued in a threatening manner, "You can make a fuss, but the bank is backed by a powerful legal team. They will pursue their financial and legal interests back by a large stable of high-priced attorneys." In other words, pay up or we kick you off your golf course! Subsequently, the owner hired me as his consultant to advise him though his bank predicament (see my modest rate structure below). I informed him of another owner who implemented my unique strategy and the bank is gone! KEEP IN MIND, I AM NOT AN ATTORNEY NOR AN ACCOUNTANT, AND CANNOT PROVIDE LEGAL OR ACCOUNTING ADVICE. I can advise certain strategies that I am aware of that may actually put you and your golf course in a better position. It involves a neat strategy that I have already devised and seen implemented. And the ruthless big bank is gone. In place of the banker you may wind up with a lender who is friendly, flexible and most of all, REASONABLE! However, I will advise you to use competent professional legal council to protect your legal interests in the process. I will speak to your legal provider about my strategy once I am engaged (if requested). I can't guarantee these strategies can or will work for you, but with your back against the wall, you can't just sit back and let bankers beat you up. You need to go on the offense. HOW DO I WORK? I will come aboard with you and your situation for an initial fee, then a small monthly fee. As long you need or want me on the project you keep paying. You can stop anytime - by not paying the advance monthly fee. If I am successful in finding you a lender you are prepared to accept, and you are funded, I take a 2% finder's fee, which can be included in your funding (provided the lender agrees). "I will not string you along. If your project does not fit the strategy I propose we won't even begin the process. I will tell you where I believe your situation stands before I take a dime from you." Mike Kahn With all that said, I have access to private money. It's that simple. If you believe you are a good, honest, golf course operator who has worked your butt off to run a good business, there are private money sources that would back you. My strategy takes the bank out of the equation and even resets your loan on easier terms than you have now. Of course, you are not obligated to accept any loan proposal. MY FEES: $1,000 for the first month to become your consultant. $500.00 monthly, beginning the second month until you decide whether to continue. Stop paying and we're done. If we find a lender to replace the banker, I require a fee of 2% of the total loan amount provided by the lender. References? I have hundreds. Ask and I'll give you a few to start. Golf course owners in New York, Kentucky, Florida, North Carolina and other places. What do I need from you (all subject my agreement with of confidentiality)? The name of the subject golf course and your current ownership history General financial statements, rounds counts and membership history (if any) What you owe your bank and your monthly/annual debt payments Any appraisals you may have available Any information that a lender may find out about later that could kill the loan Call me: 941-739-3990, or Email: mike@golfmak.com. My first consultation is free.