Everyone,
Thanks very much for your feedback. I truly appreciate it. Ann Bellamy, I apologize for my lack of clarity. My goal is to lend to investors - Specifically, people whose exit plans are to buy and flip, buy, rehab and flip, or investors looking for bridge loans until they can get traditional financing etc. When I used the term 'unqualified' earlier, I wasn't speaking to the prospective's credit scores or any traditional metric of credit-worthiness. I just did not have any confidence in what they were doing (because they themselves didn't know, they didn't get the concept of needing first lien on a property in order to lend). This is not to say that I'm an expert, because I'm certainly a neophyte, I'm simply trying to illustrate what I meant by 'unqualified'. I've been lurking on this forum for a little while, and I always find your posts very helpful and informative. Again, I appreciate your reply.
Bill Worsley, Thanks for your input. I really appreciate it. I relied on a friend who is a RE lawyer last time to take care of the legal documents, escrow, etc. He did a fantastic job, and I did learn a ton, but of course he can't practice law in Texas. I'll shoot you a PM.
Steve Babiak. Thanks for the links on how to lend. I had found one of them previously but the thread that I saw for the first time proved very useful.
