Agreed, this is incredibly helpful. Thank you!
Sample Mortgage and Promissory Note Templates for Working With Private Money Partners
In case you all missed it, Jaren Barnes put together a pretty epic blog post earlier this month where he talked about how he works with private money partners to fund his land deals.
In that blog post, he talked about how he structures his private money loans (how the profit is split, who holds title to the property, what happens if the property doesn't sell in the allotted time, etc).
He spent a lot of time figuring out how to create a mortgage and promissory note template he could repeatedly use in his business, and he was kind enough to make them available for FREE, for those of you who might find it useful.
Obviously, we strongly suggest that you take these and have an attorney review and adjust them to reflect your specific market. Nevertheless, it should give you a place to start and save you money since your attorney won’t generate these documents from scratch.
Hi Seth, do you guys have any resources to share for short term lenders. I want to look into the option of getting deals funded just for the purpose of turning around and putting it on the market and avoid the Double Close? Thanks
EdgarCox Edgar Cox last edited by
Thanks Seth and Jaren for sharing these documents. Appreciate it.
Christopher Shawn Saba we're actually working on some stuff right now. Aside from the blog post Jaren just published (which is more from the borrower's perspective), we should have more to offer for the private money lending crowd in the months to come. Stay tuned!