Investor · Grand Rapids, MI · Member since 2012 · 158 posts · 49 votes
Hi All,
I am negotiated PMF with an experienced rehabber that is from a different state. We would be financing one project at a time. I'm looking for advice on what I should be getting to complete my due diligence. I've asked for references from past PMFs. What else should I be asking for or obtaining? Thank you.
- If you want to be absolutely certain of his success, ask for copies of past tax returns
Most importantly, ensure that the deal is good, the LTV is low, the investor is putting up some of his own cash (skin in the game), and then get a 1st lien position.