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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Contractor
  • Los Angeles, CA
323
Votes |
887
Posts

How do I secure my funds

Account Closed
  • Contractor
  • Los Angeles, CA
Posted

Hello BP nation! So a while ago I posted that I had some cash and what to do with it. A few suggested that I lend it and/or provide them with bridge/gap funding. My question is how do I secure that and make sure I get my funds back along with the interest? I hope this makes sense. I look forward to your responses BP! Thank you all in advance.

Best,

Jorge

Most Popular Reply

User Stats

256
Posts
350
Votes
Dan Mahoney
  • Financial Advisor
  • Atlanta, GA
350
Votes |
256
Posts
Dan Mahoney
  • Financial Advisor
  • Atlanta, GA
Replied

@Account Closed Have a lawyer draft a note and a mortgage deed (or security deed, deed of trust, etc. depending on what state the property is in).  Of course this does not gurantee the borrower will pay you back, but it does secure your loan, which I think is what you were asking.

  • Dan Mahoney
  • Loading replies...