I’ve got the go ahead with a private money lender - now what?
I went to lunch today with an older gentleman I know. He owns the building I rent out for my State Farm Agency. I gave him my spill on real estate investing and he agreed to terms of 1 point, paid on the back end with 8% interest only payments on a one year note. He will fund 100% of the purchase and costs up to 70% ARV.
My question is, what now? What kind of paperwork do we need, who should I talk to to get it? Are there resources on BP for me to dive into to learn? Thanks in advance!