All Forum Posts by: Frank Y.

What is your question? 

The best way is net working with local REI group and local private lenders. Also keep in mind never pay upfront fee. There are too many scams online. Good luck.

Most lenders want monthly interest payment only, then the principle when you pay off.  Thanks. 

What r u exactly looking for?

Dan Meier I am in Reading area. When you involve family or friend money, remember business is business and family is family. Have an attorney draft mortgage and promissory note, in which clearly state all terms. Many families/friends become enemies after money involved. Good luck!

Are you talking private lending? Private lending is much higher than bank rate.

No banks/lenders will lend you money if you don't buy home owner insurance. You should buy it for your own sake， even the cost is high!

Go to your local real estate meetings and you will find some one. However a lot of PML don't lend to OO property. Good luck.

Hi, dear fellows, anybody here join American Association of Private Lenders (AAPL)? Does the money spent worth it? Thank you.

You can have a 2nd position lien mortgage after the closing with a promissory note. However, since it is only 4% of the total purchase price, in case the worst happens, you will have little chance to collect anything after the 1st lien holder, with it's legal fee and penalties. You can find a lot samples of promissory note online. Good luck.