If you borrow as an individual and then quit claim to an LLC you run the risk of violating the terms of the loan and it could be called due.

Probably something like a 70/15/15 loan is about the best you will do where that 15% is really your cash, not borrowed.

I believe Florida is a Super Lien state so the HOA fees won't go away if you FC.Too, Florida is a Judicial foreclosure stare so if FC has not been started be prepared for it to take a while and know that if you are near the coast you may have very high insurance costs until you either get the borrower paying again or are able to get title and resell the property.

It's much more common for a borrower, especially an older one, to forget something, like the bank had to pay some taxes, insurance, some missed payments, etc.

I'd give up most of it just to get the deal done on this light of a job.Willing to borrow on the deal too if there's some lenders out there reading this, I can put the cash in needed to get the percentages in line.BTW, I'm 14 years and well over 100 deals into this stuff...

Basically, after my houses are rehabbed and while they are on the market, it is sometimes good to be able to borrow against them with a HELOC to have the funds to get started on another renovation.The offers I am getting are 75% LTV, 7% interest, no closing costs.Anyone else doing better?

When the borrower is paying as agreed there is not much to do but cash the check.

There are plenty of experienced borrowers out there with viable properties who are also safer risks.

We always prefer local borrowers because we know the land better.

I would like to borrow 100k and then in 10 years give a one time lump sum payment of say 110k or something like that.