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Updated over 6 years ago on . Most recent reply

Kevin Tarver's profile image
Kevin Tarver's profile image
Kevin Tarver
  • from New York City, New York
  • Member since Jan 9, 2014
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Kevin Tarver's profile image
Kevin Tarver's profile image
Kevin Tarver
  • from New York City, New York
  • Member since Jan 9, 2014
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Kevin Tarver
  • New York City, NY
1
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33
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Starting Out

Personal loan vs lender

Kevin Tarver
  • New York City, NY
Posted

hey I'm thinking using a personal loan to finance my first investment about 50k Then take my down and pay for any extras. I wanted to know anyones thoughts? Thanks.

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Michael Evans's profile image
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Michael Evans
  • Real Estate Consultant
  • from Lancaster, CA
  • Member since Jul 14, 2014
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Michael Evans's profile image
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Michael Evans
  • Real Estate Consultant
  • from Lancaster, CA
  • Member since Jul 14, 2014
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Michael Evans
  • Real Estate Consultant
  • Lancaster, CA
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Michael Evans
  • Real Estate Consultant
  • Lancaster, CA
Replied

What are the terms on your personal loan?  What do you mean when you say "then take my down and pay for any extras"?  Is $50K to total amount needed to do the deal (sales price of property, closing costs, etc.).  Give a little more information about the deal and I can provide some guidance.

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