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Updated over 5 years ago on . Most recent reply

Jeff Nichols's profile image
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Jeff Nichols
  • from KnoxvilleTN
  • Member since Jun 23, 2016
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Jeff Nichols's profile image
Jeff Nichols's profile image
Jeff Nichols
  • from KnoxvilleTN
  • Member since Jun 23, 2016
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Jeff Nichols
  • KnoxvilleTN
2
Votes |
20
Posts
Private Lending & Conventional Mortgage Advice

Short Term Loan from Friend 6k for Six Months

Jeff Nichols
  • KnoxvilleTN
Posted

I’m getting a loan from a friend for 6k for six months for a 1000 fee to help close a house I’m flipping. Should I use a lawyer or just write up an agreement and both of Sign?

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John Teachout's profile image
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John Teachout
  • Rental Property Investor
  • from Concord, GA
  • Member since Aug 16, 2015
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John Teachout's profile image
John Teachout's profile image
John Teachout
  • Rental Property Investor
  • from Concord, GA
  • Member since Aug 16, 2015
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John Teachout
  • Rental Property Investor
  • Concord, GA
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John Teachout
  • Rental Property Investor
  • Concord, GA
Replied

For private money loans like that I printed off a promissory note from the internet, filled it out, had it notarized and went with that. I've since paid it off.

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