Updated about 7 years ago on . Most recent reply
Small Notes for Rehab Completion
I typically only deal with private mortgages and notes for purchase and rehab. Recently I’ve had a few requests for small notes to give rehabbers the funds they need to complete a property. Often they have a rehab escrow but are struggling to remain liquid to complete the work and get draws.
Is this something any of you have done in the past? What terms do you give for this scenario? When evaluating a short term note for $5,000 to $10,000, the terms I use for my larger notes doesn’t seem enticing for an investor.