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Updated about 6 years ago,
I'm considering lending money on a flip, need input on rate
I'm considering lending money for a house flipper to do her thing.
I would like input on interest rate I should charge.
Here are the details:
THIS WILL BE A SECOND POSITION LOAN behind an 80% loan from private money.
Purchase: $350K
Rehab: $38K
ARV: $450K
Hold time: 3-6 months
Any input is appreciated!