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Updated almost 2 years ago,
Making A Loan For A Private Flip. First Time Lending. Advice/Recommendations?
Hello,
Preface: I have no lending experience, looking for recommendations on how to protect myself with a loan for a flip
I connected with a guy who seems to be a "straight shooter" with experience doing flips, kids in local school, lives in same community as the flip, active realtor.
He sent a thorough description of the flip. It's a sub-100k arv on a nice double-wide in a good area.
Before I send a check, what do I need to do to reduce risk?
Should I insist on being on the deed? Is that overboard? I have no idea what documentation I may need...
Thank you