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All Forum Posts by: Thomas Wan

Thomas Wan has started 1 posts and replied 3 times.

Rehabbing & House Flipping

Post: How much money do I need?

Thomas WanPosted
  • Investor
  • Rowland Heights, CA
  • Posts 3
  • Votes 0

It also depends on the condition of the property.If it only needs minor cosmetic repair, you may be able to get a bank loan.If the property needs major rehab, The property may not be qualified for bank loan.You may need all cash or consider a hard money loan.The bottom line is the number.  Make sure you have a "very good" deal before you jump in.

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Hard Money Loan to Living Trust

Thomas WanPosted
  • Investor
  • Rowland Heights, CA
  • Posts 3
  • Votes 0

Hi Jared, thank you for your input.  Since it is new to me, I just asked the borrow to provide an attorney letter stating the property in the trust is mortgageable.

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Hard Money Loan to Living Trust

Thomas WanPosted
  • Investor
  • Rowland Heights, CA
  • Posts 3
  • Votes 0

I am new in private lending. 

I was approached by a hard money broker to lend a hard money loan. The property is a free and clear rental property. and is currently under living trust.

My question is:

Is there any problem to do a loan to living trust?Any precautions?

0 Votes