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All Forum Posts by: Benjamin Lioue

Benjamin Lioue has started 1 posts and replied 2 times.

Hi @Chris Mason,

I am doing this to test the waters, for ROI on $10K, and for returning a favor for a relationship. How much more should I be expecting typically? Side note: the total pooled together for this loan is 50K I am just putting in 10k.

Thanks,

Benjamin

I am doing a private unsecured loan of $10K at 11% to a real estate development firm. I have received personal guarantees from the 3 individuals whom make up this firm as well as added on the insurance (except life). Questions to follow:

  1. What are your look to Due Diligence Documents you want to get comfortable lending?
  2. What type of recourse do I have if the firm can't pay up?
  3. If a third party is originating the loan document, should I still have a lawyer review it?
  4. If I need a lawyer, what type of lawyer should I get? Lending lawyer? Real Estate lawyer? Or is a deal this size too small or worth it for me to get one. 
  5. Is it worth asking what my money will be used for?

Thanks,

Benjamin