All Forum Posts by: John Jacobs

I am going to be lending to an investor on a single family home. There will be renovation of the home that is $82,500 worth of renovation. The Homeowners Insurance will include Builder's Risk. During this renovation period would you, as the lender, want an Actual Cash Value or Full Repair Cost policy in place?

I am going to be lending to an investor on a single family home.  There will be renovation of the home that is $82,500 worth of renovation. The Homeowners Insurance will include Builder's Risk.  During this renovation period would you, as the lender, want an Actual Cash Value or Replacement Cost policy in place?

@Brian Rocha  Hi Brian---I just sent to you a private message.

@Austin Tess  @John Clark  Hi Austin,  Great question---I would happy to talk to you.  I private messaged you.  John

@Luke H.

Hi Luke,  As a private money lender myself I will focus on one element of your deal---5 years is a long time to be finally paid.  I do either 12 month balloon notes or notes where I get paid monthly.  In the latter situation (where I am paid monthly), as a short term lender, I only do 12 month Promissory Notes.

@Doug Hayden

Hi Doug,  I grew up in a suburb of Chicago.  Is the building in the picture (i.e. the building in question) on Michigan Avenue?

@Nicholas L.

@Dan Grove

As a private money lender I agree with Nicholas' sentiment.

@Noelle Mastelotto

Also consider Madison, Wisconsin.  Although not classically thought of as Midwestern have you also thought of Tennessee and North Carolina?

@Beth Johnson

Beth,

Thank You

John

@Jeff S.

Jeff, 

Thank You

John