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Updated almost 6 years ago,
Private investor wants lien
My partner and I have a duplex under contract. We have a private lender willing to lend to us, although he does want a 1st position lien on the property. Since this is not a hard money loan we will be the ones setting up lien and terms.... How does one go about setting up a lien, and does the investor give us the money directly or does he cut a check to the bank for the Property?