Private Financing Analysis

[Jeremy Suffel]

All,

I'm currently analyzing my first BRRRR purchase. Being new to this, I want to make sure my financing is solid.

The offer:

$75,000 Credit Line @ 5-6.5% interest

$5,000 one time fee at refinance (no interest)

If I sit on the money without refinancing beyond a year then an annual fee of $1,000 will be assessed, this one will accrue interest.

I'm just curious if this is a good private lending offer or if I need to be seeking a better deal.