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Updated over 2 years ago,
Private lending advice
Hey Oh friends!
Investor here looking to dip my toe into private lending to another investor.
Deal- Wholesaled property under assigned contract and buyer looking to borrow 130k at 11% for 4 months from me to finalize the deal and get the property refinanced. I will be in first position on the note. Buyer is a seasoned investor with a good track record. Property is something I would be glad to add to the portfolio.
My confidence areas and experience are in LTR, STR and BRRR but not private lending.
Any advice on what I should consider or create in order to protect myself or add value to the deal. Thanks!