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Updated almost 6 years ago,
Suggestions re lending rehab funds as a 2nd mortgage.
I'm wanting to learn about flipping in my local area. I met someone through Linked In that has a company that has been successfully doing fix and flips in Denver for about 1 year. He is offering me 10% interest for me to fund about $80K for the rehab portion of a property they just put under contract. My concern is I would only have a second mortgage position. They've got relatively low rates previously working with a hard money lender. Normally I would not consider a 2nd position, but am really wanting to work with someone willing to teach me threw this flipping deal. What suggestions or feedback do you have for me regarding this?