All Forum Posts by: Account Closed

In Arkansas the criminal violation law is changing county by county to a civil violation.

Jacqulyn,

I am a hard money lender in Hot Springs Village. PM me and we can talk to see if we can work together. BTW We have an investor's MeetUp group in Hot Springs. Go the MeetUp.com for details.

Kathie

Wiley,

Seems like a good area to be working. As long as Walmart is strong and there is a university there is great opportunity. I live in Hot Springs Village and do hard money loans in Arkansas. Let me know if you get in a situation where I might be of help.

Other than having a lawyer draw up a trust are there any examples any one here on BP would be willing to share?

Yes, I agree. I just want some of my cash/loans hidden a little bit and do not want to fuss with keeping an LLC or S-Corp up and running.

I am a private lender and would like to operate out of a trust. I have seen language for land trusts but that does not seem to fit my situation. Does anyone have an example of language for such a trust?

If you have the capital private lending is the way to go. In addition to the problems you noted there is another major one when owning property. Lawsuits. One is far less likely to be sued as a lender than as an owner.

In my world transactional loans and bridge loans are the same. Each lender has their own requirements. But certainly in my experience the purpose of a bridge/transactional loan is to allow the borrower time to refinance. So, yes, a bridge/transactional would allow a refinance.

Can anyone recommend a lawyer in CA competent in this area?

I once lived in CA and in 1988 I bought a small 2 BR in a working class neighborhood. I have not lived in CA for 15 years. I sold the house this year and there was huge appreciation. The escrow company is insisting that I sign a Real Estate Withholding Certificate and that I must pay a state tax on this.

Is this true?

Kathie