Hard money loan to the agent?
Hi BP members! Good morning!
I have an real estate agent who wants hard money loan from me for flipping an income unit. The investor is putting down 25% of the purchase price, and extra 20% in renovation. I'll be loaning 80% of the purchase price and I'll get is 10% interest for about 6~8 months. Is it relatively safe? Is there anything that I should be aware of and be cautious of? Thank you so much for your comments in advance!