Rocksford Green
Making Offers Before Private Money for Land Development
I was told that usually Private Money is not available for land acquisition for subsequent development. One exception is that some private money lenders will cross collateralize several properties. Then that money c...
Jarrod Murrell
SBA Loan-EIDL: working capital
I recently received my SBA relief loan, and was reading through the terms. The loan is to be used for working capital, and i have some questions as to how far the use could really reach. Does anybody know if the loan,...
Jorge Farinas
Getting back into lending
I'm getting back into lending and I've had a recent offer for a loan as a second lien position. From what I remember, you want to be in a first lien position. I prefer that to be the situation as I'm just getting back...
Troy Welch
Legal Advice-1st Position Lender, Borrower Filed Ch 11 Bankruptcy
I have invested a large sum of money with a company (individual with
LLC) who has filed chapter 11 bankruptcy. I am the 1st position. I was
prepaid 1st 6 months of interest. 8 months have passed and no
additio...
Noah F.
What should my approach be given my situation?
I own a single family home free and clear, worth about $350k. I also have about $50k for a down payment. My FICO scores are 750+ and I have no debt of any kind. However, my monthly income is less than $2,000. Traditio...
Lester Schmitt
Private1st leinholder willing to subordinate. Can I use that as downpayment?
Previous owner sold empty 40 unit apartment for $700,000 and gave 100% financing to the new owner.
New owner renovated and filled the building. New owner died and his estate is anxious to sell.
According to the Realt...
Joseph Duenas
Business Lines of Credit Secured by Real Estate
I was hoping to get feedback on business lines of credit secured by free and clear real estate. For the sake of this discussion, here's an example scenario: If a person had 5 properties free and clear, valued at ...
Rob Nichols
Hard Money Lending on a Subject 2 Property
Hello everyone!Bottom Line Up Front: How can a hard money loan be secured on a subject 2 property?Background:A local wholesaler is purchasing a duplex that he intends to keep as a rental. He's negotiated a purchase ...
Anthony Taggart
how to figure out we’re to start
Hello all looking for advice. So i am currently in the middle of flipping and then selling a property and I am going to use the profits to pay off another property that I own. After doing this I plan on cash out refi ...
Amir Saeed
Business Credit Line
I have a property that was just rehabbed. The property is now on sale. The property has no lien and is fully paid and has a clean title. The property is under LLC name. I am looking forward to get a business line of c...