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Updated about 7 years ago on . Most recent reply

Account Closed
  • Investor
  • New York City, NY
36
Votes |
173
Posts

Private Money Contract

Account Closed
  • Investor
  • New York City, NY
Posted

Can anyone tell me a quick cheap place to sign a private money agreement with someone.  My friend has 100k he wants to lend me but wants something in writing first, interest and balloon payment etc. 

Most Popular Reply

User Stats

1,100
Posts
701
Votes
Mark Gallagher
  • Flipper/Rehabber
  • Allentown, PA
701
Votes |
1,100
Posts
Mark Gallagher
  • Flipper/Rehabber
  • Allentown, PA
Replied

@Account Closed

For both parties sake, it would make more sense to secure it against one of the existing pieces of real estate. Then you'd file a mortgage for the property with the courthouse, and then a note between parties specifying the terms.

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