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Updated about 5 years ago on . Most recent reply

Hugh Wagner's profile image
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Hugh Wagner
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Hugh Wagner's profile image
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Hugh Wagner
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Hugh Wagner
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Private Lending & Conventional Mortgage Advice

I've got a hard money deal lined up

Hugh Wagner
Posted

I've got an investor that would like to take a 125K hard money loan from me. This is my first time doing a hard money loan. Is there a check list or something that people commonly use before giving a loan to be sure that they are protected from common issues?  I'm excited to do the deal but I have fear of the unknown.  Any help would be great.  Thanks!

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Derek Dombeck's profile image
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Derek Dombeck
  • Real Estate Consultant
  • from Wittenberg, WI
  • Member since Dec 20, 2014
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Derek Dombeck's profile image
Derek Dombeck's profile image
Derek Dombeck
  • Real Estate Consultant
  • from Wittenberg, WI
  • Member since Dec 20, 2014
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Derek Dombeck
  • Real Estate Consultant
  • Wittenberg, WI
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Derek Dombeck
  • Real Estate Consultant
  • Wittenberg, WI
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You should have  note, mortgage, appraisal or CMA, scope of work, personal guarantee, escrow agreement if they are taking construction draws, lenders title insurance,  and be listed as the lender on their property insurance policy.
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