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Updated 10 months ago,
Private lender - forms required??
I am looking to see what forms and documents to use when borrowing money from a private investor. I have a few private investor willing to lend their money on a deal that I am working on. I will need to secure their interest onto the deed of trust but need help with a document that can get this done. We have already worked out the terms and agreement on the money lent. Thanks for your help.
Scenario:
Purchase price: $185K
Rehab: $30K (my contractor and I est. $25K)
ARV: $295K
My capital invested: $125K (I have additional rehab capital of $50K)
Capital Funds needed: $60K on 12%
Turn around time is: 90 days max. Properties are moving off the market in 5-7 days.
Thanks