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Updated over 6 years ago on . Most recent reply

User Stats

58
Posts
9
Votes
Assaf Kehati
  • Brooklyn, NY
9
Votes |
58
Posts

I'm giving hard money and have a question:

Assaf Kehati
  • Brooklyn, NY
Posted

Hi everyone,

I'm giving someone a private loan (hard money) to flip a house. My loan would be recroded in the mortgage on the house as a first lender. The value of the house before the fix etc is less than what I'm lending.

My question, is it safe to give the loan to an LLC the guy have or should I insist giving the loan directly to the guy?

In any case I'm transferring money only to the title company.

Thank you.

Most Popular Reply

User Stats

58
Posts
9
Votes
Assaf Kehati
  • Brooklyn, NY
9
Votes |
58
Posts
Assaf Kehati
  • Brooklyn, NY
Replied

Thanks, I'm only giving the purchase price, not the rehab. Actually giving less than the purchase price.

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