Private lender loan document

[Todd Bullinger]

I'm getting a private loan from an individual who has never lent for real estate before....and I have never borrowed from a private investor. We have agreed to terms and I was just wondering if anyone has any agreements/notes/paperwork they typically use or would be willing to share. I'm just not sure exactly what we need to have.

[Tammy R.]

I have a note that I use as well and as the accompanying instructions.

It is also important to create a disclosure list for your lender to CYA. These disclose not only about you and your company, but the risks associated with investing in RE.

I know; it sounds scary to put a document like this, but it is a good business practice to do and recommended so if on the rare instance something SHOULD happen, they have had disclosures beforehand and can't try to claim you didn't let them know there are risks involved.

PM me your email address and I can send you the documents. Also, if you click my second link, there is a free report I offer that you can give to your lender so s/he knows the stuff to watch out for. Hope it helps!