[CF Student]

CF Student

Hi Jackie and group,
,
, Hope the Holiday season is treating you well.  
, We are  starting to do some private lending on a small scale and something came to mind.  I know when borrowing we always try to put a ‘first right of refusal’ in notes so that if the note was sold at a discount we would have the opportunity to get the note paid off or refinanced at the discount first before a note buyer. WELL when lending, do you have any info/feedback on something similar?  Except perhaps it would be a right to meet the terms of any new refinancing?  OR if the borrower sells the property could we get first right of refusal to purchase it  (in the event they sold as a distressed sale).  OR anything else we should think about including?  We have the assignment of rents, proof of insurance, etc but was trying to think of any other creative clauses we could add to improve our position or future position.
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, Thank you for the feedback!

[D Graber]

D Graber

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, You might care to look at this title on your topic:
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, http://www.amazon.com/Making-Yield-Estate-Lending-Uncovered-ebook/dp/B00NOC0MYA/ref=sr_1_1?s=books&ie=UTF8&qid=1450824468&sr=1-1&keywords=Making+the+Yield
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, PS. I know the author.
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, –Dee
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[DON WEDE]

DON WEDE

You should check with Dyches Boddiford at assets101.com. Dyches has been teaching a class on private lending for a number of years. Dyches is very detail orientated and has great paper work. By the way I think both of your first right of refusal ideas are very good.

Don Wede

[CF Student]

CF Student

Thank you Don and Dee!  I have purchased the lending book and I’ll review assets101 material and perhaps get to a class with Dyches. 
,
, Happy New year