All Forum Posts by: Ginger A.

Welcome! As you know I am also a newbie and this thread alone has listed some valuable info for is to look into. 

This site is awesome. Chris thank you, I will use What you advised as a guide. I really have a lot of gratitude for all of the Pros who have given advise. This site is extremely valuable to me.  Can't wait to be where you all are!

thanks Paul I like that idea . I also like our idea Jay, search for a HML here in Philadelphia. There are other options to grow. And so I leave no one out here, I'm available if needed by anyone here (Laughing) ;)

oh and I definitely feel rushed. This is a NO GO.

I thank you all! You all have valid points on why I should run. I wanted this SO much. Yes I see red flags, I can honestly say I am a motivated lender. (Never even thought of it that way) but YES I am motivated to grow my money. Desperation is never a good thing. I would definitely be second against a HML's millions. And although I am hardworking, intelligent, creative, thorough and intuitively perceptive , I am (temporarily ) unsophisticated with this business, and I'm putting in too much trust in someone I really don't know. I have refused to listen to my own spidey senses... Because I'm a MOTIVATED lender. It just takes someone pointing out the obvious . I have to say the developer has gone out of his way to make me feel comfortable with this deal, but when I honestly look at some inconsistencies, no matter how BADLY I want to succeed in this venture, it's just not the right time. :/ I was pushing it because I know in RE, you have to have an element of being a risk taker. That's what I thought I was doing, but things just don't add up. This is breaking my heart but I also feel encouraged to keep on trying my best with this :)

I am completely new to REI "NEWBIE" ALL THE WAY, so I have my concerns with a lending opportunity. I asked the developer how is he going to secure the loan so that I am guaranteed the return of my principle? I was told that I will be covered with money from his hard money lender... Not sure how it's all going to work I'm researching now, I just want to know what documents I need to have signed to guarantee my loot back? Is a promissory note enough? It's an opportunity to invest in a commercial property that is being converted to residential space. Any tips will be helpful! I like the developer and think it's a good deal, just want to be smart about it...