Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

27
Posts
9
Votes
Matthew Marcelissen
Pro Member
  • Rental Property Investor
  • Houston, TX
9
Votes |
27
Posts

Best way to structure conventional + private for renvo?

Matthew Marcelissen
Pro Member
  • Rental Property Investor
  • Houston, TX
Posted

Hi All,

I landed my first flip in Houston! Since it's a grandma special, I secured a conventional loan for the home for just the purchase price. My friend offered money for the rehab, interest-only, 12%. Yay! How do I best protect her? She cannot be the first lien holder, as the mortgage company will be. Can I make her the second? If so, how is that done? Can it be put on the HUD at closing? What type of contract or document should we sign?


Closing 18JUL.

Thanks for the feedback and tips!

Loading replies...