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re: Information for my fellow Real Estate Investors
Posted on 5/23/17 at 4:24 am to Fat Bastard
Posted on 5/23/17 at 4:24 am to Fat Bastard
It's an investor who runs a sort of we buy houses here. He's legit. I would be the 2nd lien on the property and he puts title insurance and loss/payee as well for me. I worked out 11% with him. Thinking of going for it.
This post was edited on 5/23/17 at 6:16 pm
2
Posted on 5/23/17 at 6:16 pm to Sho Nuff
So there's 2 properties; one is $50k rehab and the other is $100k. I'm thinking of doing the $100k and earning almost $1k a month in interest. I will be writing a check to the title company directly and on as the 2nd lien. Anything I need to think/worry/question?
Posted on 5/23/17 at 10:24 pm to Sho Nuff
quote:
I would be the 2nd lien on the property
who's first? How much are you loaning and for how long?
WHat is he putting into it? IS he putting anything down? IF this is a flip you need to charge more like a hardmoney lender. These are done usually within 8 to 12 months.
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