Tony James
👤 SpeakerAppearances Over Time
Podcast Appearances
Think of those rates today.
Totally.
But Steve said, no, I'm not going to do the reset because I know you guys will reset it to the max.
That's just, you know, and this is, well, Steve has a great nose for how to get screwed.
And how to avoid it.
Yeah, and how to avoid it.
But what might happen?
Yep.
And we couldn't sell it without the reset.
And, of course, what that tells you is the market all thought it would be reset.
Interesting.
Right?
Or at least you want to take the risk out of it.
So we kind of went round and round and round on that.
We had done a bridge loan, so we needed to get this financing done.
And, you know, the story is Steve said, well, are you willing to put your own personal money on the line?
And I said yes.
And so we had, okay, if it resets to the max –
you'll pay me a certain amount of money.
And I said, okay.