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Updated about 7 years ago,

User Stats

11
Posts
10
Votes
Kevin Stalbaum
  • Investor
  • Libertyville, IL
10
Votes |
11
Posts

What is the proper documentation for private funding for a flip?

Kevin Stalbaum
  • Investor
  • Libertyville, IL
Posted
I will be purchasing my 4th flip and for this project it's my first time borrowing funding. Purchase price is $150k of which I'll be borrowing $100k from a friends family member. What is the best legal agreement in this case that covers both parties interests? Secondarily, looking for advise how to properly handle the form a tax perspective? I want to make sure that I have what I need to write off the interest expense. Thanks in advance!

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