Updated almost 5 years ago on . Most recent reply
Private Money Lending
I am new to the real-estate game. I have been actively listening to and reading books from bigger pockets. I am ready to finely dip my toes in the water. One thing I cant find much information on is the actual private money lender. I hear and read allot about that being one way to get money but nothing specific about being a private money lender.
I am looking for some advice on private money lending. Specifically being the lender? I have some cash and am looking to work with an old friend. He has completed his first flip and working on a second. We have been talking and I have extra cash and am looking to lend money.
1. Should I have an LLC to lend?
2. Should I look to be an equity investor or just Loan?
3. Advice on Loan terms and Rates for a private money lender?
4. How do I best protect my investment?
5. Any advice from people who have previously invested their private money in this manner.