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Category: Finance
Satisfied Customers: 4675
Experience:  Tax professional and business consultant for 35 years.
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PDTax, Can you answer question? Thanks. 02 June 2016 07:50 I

Customer Question

CustomerCan you answer my follow up question? Thanks.02 June 2016 07:50
I do have the name of the borrower (a married man as his sole and seperate property--the flip, and we have his address, and his affidavit not to use it as a primary residence, it'll be non-owner occupied in the course of 12 months investment), That's after we already wired in the money. Before wiring the money, we were not even given the name of the operator, only have access to a detail like 30 pages of "after repair value appraisal." No equity info. No first and 2nd lien position info. So in your opinion, before I decide on investing in any of their project, I should 1. Find out the operator's name, address, and do a credit check 2. Find out how many properties has the operator successfully rehabbed and sold. How about the phase of construction and how they allocate or release funds at different phases? Any other background info I should investigate?
Submitted: 1 year ago.
Category: Finance
Expert:  PDtax replied 1 year ago.
I think your list is enough to satisfy your investigation needs.Thanks for asking at just answer. Please rate my assistance to close out your follow-up. I'mCustomer