Kristine Marie Poe undefined You kind of hit the nail on the head.  

And do I also have to send a copy by first class mail (Nail and mail)?  

There are liens out there, but the good ones are tough to nail down.  

You really hit the nail on the head with everything you said in your reply.

Yes only commercial loans, from our knowledge the cap on conventional,fha, and etc is 6% 

Dealt with all the expected.. extra people living in the house, extra pets, expected damage to walls from nails etc etc.

Douglas County has also instituted a cap on rental permits and the hit that number as soon as they lifted the moratorium and filled the last 50 or so permits.  

Current vacancy ratesThe comment: “this is only way to make numbers work” tells me this was an inexperienced sponsor and unfortunately I would plan on losing everything in this deal, especially if there is no rate cap on the loan.

But next time I would have to nail them down on the bill immediately.

Jeff S, yes sir, you hit the nail right on the head as far as what i'm looking to do and how the note is secured...I wasn't aware that private lenders used attorneys and i assume those are the attorneys Mr Greenberg was referring to as far as the procuring of funds is concerned