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Updated over 4 years ago,

User Stats

90
Posts
19
Votes
Ralph Noack
Pro Member
  • Rental Property Investor
  • Lynden, Ontario
19
Votes |
90
Posts

1 week loan of $10,000, at what compensation rate

Ralph Noack
Pro Member
  • Rental Property Investor
  • Lynden, Ontario
Posted

I bought a house last week while driving out of town for 5 days. I literally was signing an offer on Docusign in a parking lot halfway to my destination. I got the call to let me know that we got the house that evening. Now I'm out of town & Friday night. I have to get a $10,000 deposit cheque to the selling agent's office the next day.

I call my friend that has done some loaning to me before. I asked him to get a cheque to the agent & thankfully he did.

It was not discussed how much I would compensate him for this.

$10,000 for 1 week. 

What should I give him above & beyond the $10,000?

  • Ralph Noack
  • Loading replies...