Becoming a second hard money lender on a project that is being rehabbed is great for many reasons:
A. Borrower has invested funds and time into project and does not want to lose property.
B. Less risk because property is almost completed.
C. High interest and points on loan.
D. Very few lenders do this type of loans.
E. Spread your funds into more projects so there is less risk.
F. Evaluate the work done on the property by the borrower before lending.
G. Less time on loan for a faster return.
H. Lower amount of funds that need to be borrowed.
I. Most of all, less of your time invested in investment!
Call me if you are interested on learning how to become a second hard money lender: 970-518-4993.