Trying to invest in a real estate deal by providing the developer a bridge loan at 15% (will have a second lien after a bank). What do I need to watch out for? Who can potentially review...Cont

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There a reason this person specifically wants a bridge loan from you?

It looks like you’re dealing with somebody that is desperate for cash. 15% seems mighty good, but the default risk seems high, especially since a bank has already loaned them money.

You might have a lien on any collateral, but recovering that is going to be a lengthy, frustrating legal battle. Will you profit enough off of this to compensate for this risk?

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...the agreement? Will a real estate lawyer be helpful? Does anyone have a referral or online source (state is Texas). TIA!

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