Others will decline to
lend on properties like a working farm or a geodesic dome.
Others will decline to
lend on properties like a working farm or a geodesic dome.
Not exact matches
MIEs can
lend money for first, second, or third mortgages
on different types of real estate
like residences, commercial
properties or land development.
When looking to purchase notes, just
like with Hard Money (where an investor completes due diligence
on the
property that secures the rehab loan they
lend on), note investors do the same thing when evaluating a note and mortgage pre-purchase.
I'm actually doing the same thing with a buddy who rolled over an account and I'm using it
like more of an equity line whereby I identify
properties and his account
lends on an individual basis.
You pay them back, just
like you would pay back a bank; the only difference is: private lenders don't always look at your credit score; they're often more interested in the investment itself and they'll decide how much to
lend you and what interest rate to charge based
on their assessment of the
property.
Your
like - kind replacement
property will be acquired directly by you, your lender will
lend directly to you
on the acquisition of your
like - kind replacement
property, and simultaneously you will transfer title of your relinquished
property directly to Exeter Reverse 1031 Exchange Services, LLC as your Exchange Accommodation Titleholder (i.e. the simultaneous 1031 Exchange occurs at the front - end of your Reverse 1031 Exchange).