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Updated over 11 years ago, 06/03/2013
Private Money $$
Just looking for a little clarification on possible ways to use private money to purchase property. I am not looking for partners, I want to own 100% of the property.
Lets say I have 5 people committed to loan me money for investment property. $200,000 in total. Could I set up all their loans to be secured by the property? Or would they have to be more of a personal loan?
When it comes time to use the money to purchase a property, should I call on everyone to send it over before closing? Other ways to set it up so that the money is ready when I need it?