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Updated almost 10 years ago on . Most recent reply

Lisa Bliss's profile image
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Lisa Bliss
  • Involved In Real Estate
  • from Lawrenceville, Georgia
  • Member since Dec 8, 2013
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Lisa Bliss's profile image
Lisa Bliss's profile image
Lisa Bliss
  • Involved In Real Estate
  • from Lawrenceville, Georgia
  • Member since Dec 8, 2013
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Lisa Bliss
  • Involved In Real Estate
  • Lawrenceville, GA
0
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Buying & Selling Real Estate

Private Money Interest Rates

Lisa Bliss
  • Involved In Real Estate
  • Lawrenceville, GA
Posted

I have a private money lender that is asking me what is a typical interest rate for a 50k loan.  I want to borrow it for 6 months and I live in Atlanta GA. Any suggestions? 

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Jesse O.'s profile image
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Jesse O.
  • Rental Property Investor
  • from Kailua, HI
  • Member since Jun 8, 2014
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Jesse O.'s profile image
Jesse O.'s profile image
Jesse O.
  • Rental Property Investor
  • from Kailua, HI
  • Member since Jun 8, 2014
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Jesse O.
  • Rental Property Investor
  • Kailua, HI
24
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92
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Jesse O.
  • Rental Property Investor
  • Kailua, HI
Replied

What type of deal are you using it for?   A flip?   How about 7-8% interest only payments until you cash out and a percentage of your profit when you sell.  I would first ask him what he thinks is fair and go from there.  

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