Legal Side of Private Lenders

[Lennetta Graham]

I want to look into private lenders funding a majority of my deals. From what I have seen it looks like pretty much anyone with the funds can be a private lender. Is this true?

Also, will I have to have a real estate attorney separate from the title company draw the contract for the terms between the lender and I?

And are attorney fees able to come out of the closing cost for the deal so that I can add that to the loan from the lender?

Any help is appreciated! Thank you!