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Updated over 6 years ago on . Most recent reply
Private Money Questions
Hey there, I’m working on getting my first deal going and will be going the private money (uncle) route for buy and rehab. Purchase price 95k and 20k in rehab.
But I'm curious to know:
1) When purchasing will the property go under my name or the private money lender (uncle)?
2) It's a duplex so I plan on house hacking would that be any issue?
3) How do I refinance the duplex to pay the private money lender?
4) Would a lawyer be the best option to write this contract up?
Sorry for all the dumb questions but I attempted to do this via 203k and the General Contractors are what I feel charging exorbitant amounts. So my uncle is giving me a hand.