Private Money A few Questions and Thoughts

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Posted by Jimmy Scott on August 05, 2001 at 17:26:47:

I am considering raising private money to temporarily fund newly created simultaneous o/f loans for a 3-6 month period after which I can sell them to institutional investors as “seasoned.” I am going to pay my private investors a 15%APR and be at 70%ITV.

These loans will be of a size that it may take more than on investor per loan.

I have 3 questions:

1) Can I form a joint venture or partnership for each mortgage loan and accept money from more than one investor?

2) Or, should I issue several notes, secured by the mortgage loan, which is placed in a trustee’s hands, to my investors for an undivided interest in the mortgage loan?

3) Can anyone point me to someone who is doing this or even some resource materials?

Thanks in advance.

Jimmy

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