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Updated about 6 years ago on . Most recent reply

Catherine Cleveland's profile image
Catherine Cleveland's profile image
Catherine Cleveland
  • Investor
  • from Rock Island, il
  • Member since Feb 25, 2018
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24
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Catherine Cleveland's profile image
Catherine Cleveland's profile image
Catherine Cleveland
  • Investor
  • from Rock Island, il
  • Member since Feb 25, 2018
Connect
Catherine Cleveland
  • Investor
  • Rock Island, il
7
Votes |
24
Posts
Private Lending & Conventional Mortgage Advice

Loan servicing in IL

Catherine Cleveland
  • Investor
  • Rock Island, il
Posted

Have private money to use and need loan servicer that can do business in IL. Need to make interest only payments indefinitely with balloon of initial investment plus 10% equity when property sells. Ideas? Lawyer seems to think I should just do payments drafted directly from my bank account. Seems simple, but my question then goes to taxes...do I just get them to fill out w9 and issue 1099 at end?

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