All Forum Posts by: Yan Kang

Hi Jerry,

Thanks for your kind message and advice.

Could you please be a bit more specific about the possible risks for secured loan and education needed in order to do private lending?

Thanks a lot.

Yan

Hi Scott,

Could you please advise how much a LTV loan as low risk? How about 80%?

Thanks.

Yan

Thanks for all your attentions and kind advice. 

Would you recommend that I only lend 80% (rather than 100% or more) of the purchase price or appraisal value so I am protected as I can always sell the property for what I lend or more?

Additionally, do you have a good lawyer to recommend for drafting or reviewing the note? How much does it typically cost to hire such a lawyer?

Regards.

Yan 

Dear experts, I would like to invest in a rehab for 10% APR for 6 months. The house purchase price is 85k, rehab cost I'd about 20k. The loan will be secured by a mortgage on the house in closing.

My questions for pros: 

(1) how much a loan can I go to minimize risk? I am thinking of 80% ($78k) as a bank typically does, but the buyer then may not have enough money from his pocket to purchase and do the rehab so we can not do the deal.

(2) how should the lending note be structured so that  in case the buyer goes bankrupt, i can still be protected?

Any advice is highly appreciated.

Regards.

Yan

Thanks Zak for your kind reply. Will a Promissory Note secured by a collateral like a Mortgage to real property be normally safe enough to proceed? Is Promissory Note a risky investment? Thanks. Yan

Hi there, this is Yan. I am wondering if a Promissory Note between individuals (one lends to another via a Promissory Note) a reasonably safe way to invest. How to ganrranttee the fund is paid back? Will a Promissory Note secured by a collateral like Mortgage be safe enough? Please advise. Any inputs are appreciated. Thanks. Yan

should pet be allowed for rental?