gator lending and the pros and cons

[Farley Youman]

I have recently looked into Gator Lending. Although I have read 60 books on real estate investing (and completed fix and flips for profits), I do not know a lot yet about gator lending and the pros and cons- and most importantly the risks. 

-If I use this method, I will definitely want it to be set up with a title company for protection.

-I may also want to meet in person with the title company first to get the pros and cons and of course the risk level.

I am very cautious when it comes to real estate, and because of this I have never lost money on real estate. My method is less location, location, location, but rather cautious, cautious, cautious!

To further reduce my risk (and yours as well), I would want to partner up together with another "gator" at least for the first few deals. In other words, I would pay half the earnest money- or whatever the payment was for, and you would pay the other half. Please let me know if you are interested or have tips on this subject. I would be particularly interested in hearing from someone that has already done this method, or a title company that has performed this process. 

I am located in GA and if I do this method, I will probably do it here since the laws seem to be fairly protective in this great state.  I would also be interested in other states that have similar laws. Thank you.

[Farley Youman]

V.G. is right.  Most people take way too long to go into action.  I guess I somewhat am in that category. The only thing that I did as I read the 60 books (2006-2009) was to house hack my house.  I did that by telling the contractor to close off the loft in the brand new house I was getting built in 2008- and also put in an additional bathroom in the newly formed bed room.  This made my house go from a 4/3 to a 5/4, and also set it up where I could have 3 renters inside the house along with me- and we all have our own bathrooms.  
***Do not worry V.G., I finally did go into action. My motto was always caution, caution, caution! So that is why I did not jump in too fast. In 2011, I started doing fix and flips.  People said it was the worst time to go into flips in Atlanta, but I did it anyway and made money every time. It would not have been the end of the world if my partner and I had not sold- we could have rented them all day long (and those houses in Austell and Lithia Springs are worth a lot more today). I was a licensed mortgage officer for the state of GA after that, and now real estate investor loans and consulting.  So, I did finally take action V.G., albeit a little later than I wished.