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All Forum Posts by: Sam Smith

Sam Smith has started 1 posts and replied 3 times.

I just got off the phone with the investor he stated the contract would be Written up as a lease to option? So I'm guessing he's really not a Private money lender.

Thank you very much Colin Smith for responding, He was very vague with details.  I will take your advice.

I had a meeting with a Private Real Estate Investor today. He stated his company do not lend money to purchase properties, but instead owns 30 to 40 properties 1 to 4 units. I would choose a property that best meets my qualifications in return make monthly PITI payments. After a year so I would find a Bank or Credit union to refinance the property. The one thing that made me nervous he stated the property wouldn't be in my name until after I refinanced. Is this normal business practice when dealing with a Private money lender?