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Private Lending & Conventional Mortgage Advice

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Donny Widjaja
  • Investor
  • Pflugerville, TX
22
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79
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How can I protect my money as a private money lender?

Donny Widjaja
  • Investor
  • Pflugerville, TX
Posted Nov 7 2015, 06:55

A guy from my REI group is looking to borrow some money for a few months to cover mortgage cost for a property that he flipped. I am thinking about reaching out to him and help him out and also build my network at the same time, but this my first time to lend out money to others.

Assuming we have agreed in our terms (agreed on the amount, length of loan, interest, and additional fees).  

What kind of paperwork do I need to file?

Do I need to file something with the title company?  So, it shows that my money is tied to a specific property.

Thanks,

Donny

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