Posted by GMann on June 03, 2006 at 09:09:18:
There are some investors that will buy hard money mortgages. This is only for established mortgage lenders, not individuals.
Private money is for personal gain (12-15% and 2-5 points) if you are small scale. You can also tap into your IRA to do mortgages. It’s called a self directed IRA. You just can’t combine your cash and the IRA dollars.
Private Lending - Posted by Ken
Posted by Ken on June 02, 2006 at 21:46:12:
I have an interest in private mortgage lending and I have a question for the pros. If after closing you decide to sell your mortgage, how do you make money if it’s sold at face value? My understanding is mortgages are bought at or below face value. Thanks in advance.
Re: Private Lending - Posted by Max-Va
Posted by Max-Va on June 09, 2006 at 10:50:12:
Post this on the cashflow board. David and Michael can assist you. This can do done if you set it up correctly.