How much do the how much do I pay for the use of money?

[Louis D.]

I'm doing the brrrr method and I found a good deal. I called up my friend Fred and asked him to borrow 50000 he said "no problem". I asked him how much he wanted for interest, he said "don't care". What is a good rate of return? 10%? I want to be fair. I also want to put his $ to work, get a good return so its beneficial to him to do multiple deals in the future. It will tie up his $ for 7-8 months. After 6 months seasoning I can refinance the property and get the cash out. I just found another deal for 65k that's REALLY a good deal. (I have a realtor and contractor looking at the two homes for 65k later today) So, what is a fair rate of return for the use of $? What is the going rate, if there is such a thing?