Private Lender Documents

[Jalil Carter]

Hello fellow investors! Im getting the last ducks in a row to close on our first flip using private money. We are unsure if we will need a mortgage along with our promissory note or if the promissory note is sufficient by itself. Have any of you ever secured the loan with a note and no mortgage?

[Bryan Blankenship]

Hey there, and congrats on your first flip!

In Ohio, you need a note and a mortgage.  Both should be prepared by title/attorney for $100-200 max.  Both should be used on every single deal in OH that involves PML.