I'm considering investing in a 1st mortgage for 6 months. a contractor
buys homes , fixes and flips them.
what should I be aware of in loaning him some of the cash he needs to
buy a prop. at an auction?
--
I'm unfettered,unbound,triumphant,glorious& splendid
In article
<>,
A Veteran for Peace <> wrote:
> I'm considering investing in a 1st mortgage for 6 months. a contractor
> buys homes , fixes and flips them.
> what should I be aware of in loaning him some of the cash he needs to
> buy a prop. at an auction?
The biggest thing to be aware of is not getting your money back.
If he needs money, and cannot get traditional funding from a
bank, why would you be willing to take a risk that the bank
decided to pass up? Are you a smarter lender than the bank?
Are you a millionaire and can afford to take a big loss? Do
you know all the details of this person's finances, things that
the bank doesn't know?
-john-
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John A. Weeks III 952-432-2708
Newave Communications
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