Private Money Lender Terms and Rates

[Eric Finnegan]

Hi All,

I am looking to put in an offer on a 4 unit property. I have a private money lender lined up but will need to speak with him about the deal. This will be my first time and I want to know what current terms/rate and so on are typical. 

Any help is appreciated!

[Peter Vekselman]

@Eric Finnegan

Everyone's answers where spot on.

Heres the bottom line.  look at the cost of money as just another cost.  if what you have access to and the terms and rate make the deal work, then do it.  if it doesnt make the deal work, then walk away.

but that fact you have someone willing to loan you money is huge. and those relationships need to be preserved.  great job!