Disclose property adress when introducing a possible deal to PML?

Question

Just thinking aloud...
Is it common practice to disclose all info including the address of the property when first proposing the project to different private money lenders? If so, what stops the lender (if they are active investors) from skipping over me and buying the property for their own gain?

Steve Babiak · Answer

You can control with an "option to purchase", and pay just some token amount for that option.

Brian Beadle · Answer

Thanks Joel, I mainly deal with fix and flips so I would be proposing the PML for funding of the project. I am assuming you are referencing wholesaling when you say I should have it under control before presenting it, I which case I agree. Or am I missing something?

Joel Owens · Answer

Look up NCND (non-circumvent and non-disclosure) agreement.

Do you not have control of this property before putting in front of possible lenders?? You should.

Disclose property adress when introducing a possible deal to PML?

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