Lewis, individually and as a principal and owner of Nudge, LLC, Response Marketing Group, LLC, and BuyPD, LLC; Ryan C Poelman, individually and as a principal and owner of Nudge, LLC, Response Marketing Group, LLC, and BuyPD, LLC; Phillip W.

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

As part of the trial payment plan the borrower was able to put down $3,000 towards arrearages and agreed to an increased monthly payments.Borrower has made 6 months of consistent payments and we modified the loan to have the past due rolled into the unpaid principal balance.

Also note you will need a 25% down payment as wellAlso for clarity. are you saying you want all payments after including interest and principal, or interest only.

Seeing how little of principal is paid off in the beginning of the loan cycle, my urge so far has been to throw what I have as extra payments chipping away at that mountain, but I’ve been also thinking lately if that’s a wise practice.

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

@Chad Herringit's not a requirement, i just think a multiple of 7 figures is a good baseline, since you are risking 100% of your principal with a private loan. 

Last year I sold a property and used the funds to purchase a set of 3 land loans in the name of the partnership, which have been paying mostly interest and a little principal on a monthly basis.

Currently, the principal, interest, taxes, and insurance (PITI) amount to $3,329 monthly.

Or is it okay to work for a private one/two man shop- where Im friends with the principal and who has all the knowledge and experience from working for the big firms...