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Updated over 10 years ago on . Most recent reply

Peter Grosso's profile image
Peter Grosso's profile image
Peter Grosso
  • Real Estate Agent
  • from Farmingville, NY
  • Member since Feb 15, 2014
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Peter Grosso's profile image
Peter Grosso's profile image
Peter Grosso
  • Real Estate Agent
  • from Farmingville, NY
  • Member since Feb 15, 2014
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Peter Grosso
  • Real Estate Agent
  • Farmingville, NY
37
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164
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Private Lending & Conventional Mortgage Advice

Hard Money Contracts

Peter Grosso
  • Real Estate Agent
  • Farmingville, NY
Posted

Hello All, 

If I have private lenders who have never done a hard money loan but is willing to loan me money what contract should I use?  Promissory note? 

  • Peter Grosso
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    Karen Margrave's profile image
    Karen Margrave's profile image
    Karen Margrave
    • #5 Land & New Construction Contributor
    • Realtor, General Contractor, and Developer
    • from Redding, CA & Bend OR
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    Karen Margrave's profile image
    Karen Margrave's profile image
    Karen Margrave
    • #5 Land & New Construction Contributor
    • Realtor, General Contractor, and Developer
    • from Redding, CA & Bend OR
    • Member since Jan 30, 2009
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    Karen Margrave
    • Realtor, General Contractor, and Developer
    • Redding, CA & Bend OR
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    Karen Margrave
    • Realtor, General Contractor, and Developer
    • Redding, CA & Bend OR
    ModeratorReplied

    @Peter Grosso You will need to know what is required in your state. Some states require that loans be done through a licensed mortgage broker, I don't know if yours does. Maybe @Ann Bellamy can steer you in the right direction. 

    • Karen Margrave
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