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Updated over 8 years ago,

Account Closed
  • Chicago, IL
0
Votes |
3
Posts

Private Money - how to structure relationship?

Account Closed
  • Chicago, IL
Posted
Looking to make my first purchase and may have the option of taking private money. From what I've found, many people don't advise a newbie to go the private money way. Assuming you did go that way, how do you structure the relationship to secure a mortgage without disqualifying yourself? I seems as if you do it the wrong way, private money is viewed as a loan and therefore not considered available for a down payment. Although I'm not 100% sure how I want to structure the business, I know I'll want to remain in control (as much as possible) of it even in the instance I have investors. Hose investors in mind today will most likely want to sit back and get some sort of income stream. The less involved the better. Help?

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