I want to lend money and create a 2nd on RE property... but how?

[Daniel Burbol]

I get the concept.  I lend them money and create a note that is secured to the real estate.

The money is for repairs on the RE property itself.  (homeowner has broken roof).

Where do I start with the evaluation of whether the home owner is worth lending to?

How do I find a licensed mortgage originator to write the note correctly?  (My searches just find mortgage *brokers* when I search)

Do I even need a licensed mortgage originator for a 2nd?

I'm happy to search on any key words or call around if I only knew what to search on.

Thanks!!

[Alex Deacon]

@Daniel Burbol I hope I understand your question. I am reading that you want to lend money to RE investors. I can give you my point of view which is from the borrower. I borrow money from private lenders in my market every month. I borrow from friends, family, past clients who live out of state and sometimes out of the country. The notes and mortgages are easy to prepare once you get a template from your attorney. Plus you should get the borrower to sign a personal guarantee just like a commercial lender would get signed.  To answer your question its not only difficult to fund the right project but more important is finding a good borrower. You can have the most iron clad mortgage and personal guarantee but if you are lending to an investor who is not qualified or financially stable then you are rolling the dice.  If you want samples of the editable word docs I use please send me a PM.