Posted by NJDave on June 22, 2000 at 10:59:57:
Do your homework, scrutinizing each deal. Take steps to insure that the Borrower won’t seek to over mortgage the property, then split with the cash.
Verify the appraisal by performing your own field/desk review. Personally inspect each property. Confirm cost estimates for proposed repairs. You don’t want to get stuck making a loan on a piece of crap, irrespective of what your yield might be.
Look at the property/neighborhood as if you will own the home. You might!