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All Forum Posts by: Robert S schwartz

Robert S schwartz has started 1 posts and replied 2 times.

Private Lending & Conventional Mortgage Advice

Post: Looking to do my first private loan for a condo purchase.

Robert S schwartzPosted
  • Posts 2
  • Votes 1

The more the merrier. You brought up a good point regarding converting to a traditional mortgage before a balloon payment comes due. 

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Looking to do my first private loan for a condo purchase.

Robert S schwartzPosted
  • Posts 2
  • Votes 1

I want to become a private lender for a buyer of a condo in Orlando. He needs to borrow $120K. How do I establish the promissory note terms?I was thinking 2-3 years with a balloon payment. Looking for examples from BP community members. Is there a calculator app that you can fill in and get the numbers? Thank you in advance.

1 Vote