All Forum Posts by: Jorge Caicedo

Bill, why would I need to see an attorney if i have one lender? I plan on having a lender pool eventually

Thank you for the replies gentlemen..Mr Gulley, here's the link in question:

http://www.reiclub.com/articles/real-estate-private-lending-important-disclosure-statement Getting back to the question, I don't plan on having a foreclosure occur but it makes sense what could happen if it did from reading these answers.

Hello BP'ers, I read an article by Alan Cowgill about how if you're gonna use a private lender for your project, you need a disclosure statement..He said in the disclosure you have to put that there's a risk involved as in all investments.

My question is this: If I'm doing a fix and flip and am willing to pay the private lender on their terms, what risk do they undertake? Their position is secured by a Trust Deed in their name w/ a promissory note and if I default on my payments, they can foreclose like any lender would....Again, what is the risk for them?