Alright so I have some extra money and I was thinking about offering short term loans for fixing flips. Can some one enlighten me on various ways to protect your money. I figure the obvious thing would be to take a second on the property. But that still doesn�t guarantee a default and that you will get paid. Any tips or suggestions will be appreciated.
2nds are NOT safe. The reason HMLs only lend in 1st lien position is that they is they only way that we can protect our money.