Private money lender question for a Owner occupied condo

[Vontrick Davidson]

I have an investor that wants to get a 50k loan using his free and clear condo in dallas TX as collateral. He o owes no debt on it. He doesn't want to use a bank because of the paper work and qualifying he says. Would a private money lender do that. He wants to use the 50k to jumpstart fix and flip business 

[Matt Devincenzo]

Probably not if it is an OO real estate...you still have to qualify the loan to be federally compliant. You could attempt saying its a business purpose loan since it would be for a FF use, but I doubt anyone is willing to do it still.