If you are going to invest via private mortgages or hard money lending, then you will want to be sure your investments are secure. Here are three things you will want to do:

  1. Have the borrower sign a promissory note at the time of the closing.
  2. Be sure that you are the first and ONLY recorded mortgage.
  3. Have them get insurance, provide proof of that insurance, and list you as the first mortgagee.
To learn more about this topic, buy and read Private Mortgage Investing, a finalist in Foreword Magazine's Book of the Year Award, by Teri B. Clark.
 

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Home Stager: Teri B. Clark (http://www.teribclark.com)
Teri B. Clark
Sanford, NC
More about me…
http://www.teribclark.com

Office Phone: (919) 776-9311
Email Me
Learn more about home staging and private mortgage investing by learning tips and tricks found in 301 Simple Things You Can Do To Sell Your Home NOW and For More Money Than You Thought as well as Private Mortgage Investing.

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