The investor just lost his $25,000.The redemption price tag also includes taxes and insurance paid or owed by the current owner.If the borrower makes written demand for redemption, the current owner has 10 calendar days within which to reply in writing with an itemized redemption amount.

To provide some context, I have a 780+ credit score, looking to borrow $142,000 with a completely clean history and no loans.  

.* I have a 9-year-old chapter 7 bankruptcy that was due to medical bills.My parents have offered to help me financially, which would consist of them taking out a line of credit on a rental property they own free and clear to loan to me, which I would be required to repay at a flat 10% of the money borrowed (for down payment, fixed & holding costs, and renovations).  

What does paying points on a money borrowed from hard money lender means? 

The borrower who is in real estate characterizes the purchase as a "live in flip." 

But it is possible through an LLC.However, what most investors do is that they borrower a conventional loan, have the property in their name, and then switch it to the LLC after closing.  

I have about $10k that I will borrow from my 401k.

We are looking to borrow ~$10.5mm to development the  units.

The best thing is the deal is based on the property value and not the borrower's credit or income.

As for those with hard money the reason he approached you is he has no money to borrow more.