1st Private Money Loan
Investment Info:
Single-family residence private money loan investment in Modesto.
Purchase price: $168,000
Cash invested: $20,000
Sale price: $265,000
Provided private money loan to flipper to rehab property. Deal went well and completed ahead of deadline. We are working on second deal now.
What made you interested in investing in this type of deal?
I have a busy demanding high profile corporate job so don't have time to flip properties. Easier to provide private money loans for rehabbing cost.
How did you find this deal and how did you negotiate it?
Through a realtor friend.
How did you add value to the deal?
Providing money.
What was the outcome?
Return on my money with interest.
Lessons learned? Challenges?
Doing homework to learn the process and doing due diligence was helpful in deciding to do deal.