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Updated 4 months ago,

Anthony King's profile image
Anthony King's profile image
Anthony King
Pro Member
  • Investor
  • from Charlotte, NC
  • Member since Jul 5, 2020
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User Stats

231
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243
Votes
Anthony King's profile image
Anthony King's profile image
Anthony King
Pro Member
  • Investor
  • from Charlotte, NC
  • Member since Jul 5, 2020
Connect
Anthony King
Pro Member
  • Investor
  • Charlotte, NC
243
Votes |
231
Posts
Private Lending & Conventional Mortgage Advice

Private lending from family members

Anthony King
Pro Member
  • Investor
  • Charlotte, NC
Posted

Are there any rules/regulations regarding private lending from family members? How are people structuring these deals? I have been doing flips/BRRR's with my own money and would like to bring on family members to earn a return by loaning to me directly (not tied to a specific deal), at a fixed interest rate payable in one lump sum similar to a CD with a bank.

If I do a promissory note through a title company attorney is this enough? How do I provide the investor a 1099?

  • Anthony King
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