Need some help on loaning a guy money on a building..

[Travis Elliott]

Hi everyone..

I was contacted by a guy who has a balloon due on his building. He wants to borrow 40,000 from me to pay it off and is willing to pay 1000.00 a month in interest for a year at which he will be able to pay me back. 

I would have a title company do a title search at his cost to assure me that there are not any other liens on the building. Besides the title search what else should I consider? 

I need to move fairly quickly on this if I am going to go through with it. 

Thanks in advance

Travis