If you are crazy ๐ ... and doing asset backed lending ...
๐ I highly recommend you add attending The Real Deal with Heather Kiddo & Team to your schedule if you are in SubTo โ๐ผ or Gator ๐. ๐ฒ Subordinate (aka Gap, PML, second position, etc) is one of the highest risk โ ๏ธ forms of lending. To add flavor to that statement, let me share that I am an owner in a debt collections business that has to reject ๐
โโ๏ธ potential clients daily because there are so many people with gap deals that have gone south ๐ชซ for one reason or another. ๐๏ธ The key to doing this well, and lower the risk of losing money, is to get very educated and learn from a variety of people that have been lending actively for years. ๐ฆพ Be safe out thereโ... and avoid deals where "they so poo poo" ๐ฝ