Jane and June were able to work together on an investment that benefited both parties and allowed them to remain friends… all because they were smart and used Trust Deed Investing.
Jane and June were best friends. They met one another when they both decided to take a creative writing class. Jane was a little older and had lived a lot more life. In fact, she and her husband had a considerable amount of money at their disposal, and Jane was always looking for new projects and new ways to diversify her portfolio. One day, June told her she’d always wanted to open up a tearoom but had never had the funds to buy property.
That’s when Jane got an idea! She would loan June the money to buy her property and start her business.
However, Jane was a savvy investor and knew it would be a bad idea to just give her friend the money. That’s why she suggested Trust Deed Investing.
When Jane decided to lend June the money, the two women went to a professional lender who was able to draw up the paperwork need for a deed of trust. This deed protected the property by allowing the lender to legally take responsibility for it and protected Jane’s investment. It also laid out the timeline for June to pay Jane back. Jane and June both felt more secure knowing someone else was involved in the process.
While June proceeded with buying the property, fixing it up, and turning it into the tearoom of her dreams, she and Jane had one or two disagreements. Loaning and borrowing money can commonly cause these kinds of spats, and they can be especially hard to alleviate when they are between friends. Fortunately, Jane and June always had someone they could go to in order to relieve these issues, a third party in the form of their lender who was always available to help smooth out the edges and make sure things were fair on both sides.
In the end, June got her tearoom, and Jane was paid back with interest. Now, both women like to spend afternoons together at the shop, writing, working, talking, and laughing.
As you can see from Jane and June’s story, it’s always a better idea to get a third party involved when loaning money, especially if you’re choosing to do so with a friend.
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About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.