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Updated almost 12 years ago,

Chuck Redman's profile image
Chuck Redman's profile image
Chuck Redman
  • Residential Real Estate Agent
  • from Pearland, Texas
  • Member since Jan 14, 2013
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User Stats

163
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32
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Chuck Redman's profile image
Chuck Redman's profile image
Chuck Redman
  • Residential Real Estate Agent
  • from Pearland, Texas
  • Member since Jan 14, 2013
Connect
Chuck Redman
  • Residential Real Estate Agent
  • Pearland, TX
32
Votes |
163
Posts
Private Lending & Conventional Mortgage Advice

Private money lending. Do I understand it correctly?

Chuck Redman
  • Residential Real Estate Agent
  • Pearland, TX
Posted

Is the loan guaranteed simply by a promissory note? Does the note list the property as collateral effectively placing a first lien on the property until repaid?

I am considering using this to purchase property to rehab and sell. This looks like how the lender's money is secured.

Your input is greatly appreciated

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