If you ever find yourself in the need of private lending, there are a few important things that you should know, as well as, things you should stay away from.
The first thing that you should know is that you should never do a deal without a document. This is important no matter who you are doing a deal with, or how much you trust them.
Having documentation gives you peace of mind in case anything goes wrong while you are in the process of the deal.
Avoiding miscalculations is something that you need to be focused on. This is important because there could be changes in the world that affect the agreement at any time. You want to make sure you are on top of them and you have the proper calculations to avoid problems down the road.
All in all, private lending is a complicated issue, and when dealing with it you want to be as informed as you can be. These are a few tips that you should follow if you’re curious about the process, but it’s also important to have as much information as possible. Research is important in making sure that there is nothing that will confuse you when you move forward.