Private Money Lenders
I have an oppurtunity to gain a couple of private lenders for making RE deals. I'm stiffled as how to best handle the logistics and contracts.
Ideally, I think, is to just have them write me a check and then hand them their return after closing.
More of a formal approach is to form a land trust and run notes though my LLC.
Actually, I can think of a lot of ways but, what would the smartest / safest way.
My main intent is to generate cash on any kind of deal and buy a few more long terms along the way using their money.
I know every deal is different and risky. I have a pretty good team of brokers and a good contractor. I just need a structure to give me some reliance to flexibly pull in these lenders and do some deals.
I am sure the lenders are going to want some kind of security and not just hand you a check unless they are related. Why not just use your LLC. Do they want personal guarantee too. Most do. Talking all this over with the lenders is the best way to find out what you need to do. I have one that sais no way to Corp lending and by my continued communication we are doing a deal with Corp as borrower.
Good LUCK and Thank You
Hope this helps some
Ted Jr
PM me and lets hook up to discuss deals