I have invested in 1st and 2nd trust deeds for years. The standard deal was 4 points and 12%. I wouldn’t even consider a deal unless it was 75% LTV in an appreciating market. The deal this guy is looking for, at 84% LTV… good luck.
Maybe there is a hard money guy that will take the four points and pawn the 12% off to some sucker that thinks he/she is getting a great return on their money… that is until the deal goes sour.
