Help ASAP! - Posted by John Katitus


#1

Posted by Tom Brown on November 20, 1998 at 15:33:57:

Does this guy have a brother? lol


#2

Help ASAP! - Posted by John Katitus

Posted by John Katitus on November 20, 1998 at 13:52:30:

At a Newsgroup commentor’s urging, only to guage response, I put an ad in the paper:

Cash Needed - 12%, Secured, 48 Months

Just took the first call. The guy just got a 300K insurance settlement and wants to give me 100K for the full 48 months.
I have properties to give him second mortgages that will cover without exceeding 80% LTV.

What papers should I get to sign with him? Should the loan be amortized or just interest? Reinvest interest? What else?

Please help! Don’t want to lose this and am not sure how to proceed. Thanks.


#3

See answer posted in the CASH FLOW newsgroup - Posted by John Behle

Posted by John Behle on November 20, 1998 at 17:40:44:

There is an answer I posted to you in the other newsgroup.