Why Use Private Money?

[Tariq B.]

Hey All,

Hope your Thanksgiving found you well!

Question for the masses.

Why is private money, from friends and family what I hear is "the way to do it" such a good thing, when I am seeing private money mortgage brokers offer 6-7% loans 30 year fixed? The reason I ask is if you are to borrow from family and friends I thought the norm is about 8-10% in interest but if I can get a loan from a primate money broker for 6-7% with no limits on loans, why should I strive to get money from friends and family and potential have more people to answer to?

Just curious as I have started to make a name for myself on my inner circle and are now starting to get people coming to me who are willing to put up their money with me as they see I am doing fairly well.

Thanks!

Tariq