Burlington, NJ · Member since 2019 · 5 posts · 5 votes
So lets say you found this great house to rehab, you find a lender and they screw you over and buy the house. Has that happened to anyone? how do you avoid that?
@Account Closed - It's unlikely, assuming your private lender isn't heavily involved in real estate investing themselves. The way you can avoid the situation altogether is to get the property under contract before bringing it to your private lender. Is that a possibility?
@Account Closed - It's unlikely, assuming your private lender isn't heavily involved in real estate investing themselves. The way you can avoid the situation altogether is to get the property under contract before bringing it to your private lender. Is that a possibility?
He may have done you a favor in the long run. Do you really want to be doing business with someone that will do you like that? Now you can find an ethical lender.
Taylor and Jason nailed it...lenders are generally lenders. not that they wouldn’t get into properties, but they wouldn’t stay in business very long by going around their borrowers.