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Updated about 6 years ago,

User Stats

2
Posts
1
Votes
Fant Camak
  • Greenville, SC
1
Votes |
2
Posts

Myself and two others are considering providing short term loan.

Fant Camak
  • Greenville, SC
Posted

A group in my area is flipping a million dollar home.  They have put quite a bit of rehab into it and our out of funds,  They are asking for a 50-100K 6 month loan and are offering generous interest.

Myself and two other personal investors want to commingle our funds for the loan and share in the interest on a proportional basis.  

Want type of corporate entity should I set up...llc, s corp, partnership?

What language should I look for on contract to secure my money? I'm thinking lien/where I stand in repayment order of other investors.

Any help would be greatly appreciated.  

Thanks,

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