New development hard money

[Devon Moore]

Need some advice.

I do some small private money lending to home flippers. I had a flipper come to me asking about doing a new development.

He would need $240,000 to purchase the land from a wholesaler and then he would have his GC partner get the construction loan but they cant get the loan if their is someone else that has a lien on the property so i would have to collateralize against one of their assets which they don't have. Is there another way to structure the deal with all 3 of us? but if i go in a LLC with them i get hit with the tax from the sale of the home

The GC and the flipper were just going to split the profits from the sale of the home and they were going to pay me 2%/12% for the duration of the build.