I am presented a private deal where I would lend at 8% over 3 yrs to home buyers putting 50% down. The lien on the home will be under my name. These buyers have cash but under report their income and do not qualify for conventional loans. What is your opinion of such deals? Sounds good on the surface.
I am presented a private deal where I would lend at 8% over 3 yrs to home buyers putting 50% down. The lien on the home will be under my name. These buyers have cash but under report their income and do not qualify for conventional loans. What is your opinion of such deals? Sounds good on the surface.
To be honest James, that’s not my area of expertise.