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The Investor’s Guide to a Single-Family Rental Emergency Fund
As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them. But what should you really use an emergency fund […]
Don’t Overlook This When Buying an Investment Property—Learn From My Mistake
Let’s get one thing straight: Real estate investing isn’t a get-rich-quick scheme. If you think you can just waltz in and start raking in cash without a solid game plan, you’re setting yourself up for a financial face-plant.
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Damien Smith's profile image
Damien Smith's profile image
Damien Smith
  • Member since May 3, 2019
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Damien Smith's profile image
Damien Smith's profile image
Damien Smith
  • Member since May 3, 2019
Connect
Damien Smith
2
Votes |
25
Posts
Mortgage Brokers & Lenders

Private Money Lender

Damien Smith
Posted May 15 2019, 06:29

Ok so I am trying to get into real estate investing. Enter Private money lenders. One I am dealing with says the process the loan at %100. But let’s say your loan in is 40K, they give you 45, you take 40 and send them 5K as a fee. Is this legit? Please go easy on me, I’m just trying to get off the ground, but not get scammed.

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