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Updated almost 2 years ago,

User Stats

578
Posts
268
Votes
William Coet
  • Lititz, PA
268
Votes |
578
Posts

Making A Loan For A Private Flip. First Time Lending. Advice/Recommendations?

William Coet
  • Lititz, PA
Posted

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

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