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Updated over 9 years ago on .

Tyler Williams's profile image
Tyler Williams's profile image
Tyler Williams
  • Dentist
  • from Taylorsville, UT
  • Member since Apr 27, 2013
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User Stats

102
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68
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Tyler Williams's profile image
Tyler Williams's profile image
Tyler Williams
  • Dentist
  • from Taylorsville, UT
  • Member since Apr 27, 2013
Connect
Tyler Williams
  • Dentist
  • Taylorsville, UT
68
Votes |
102
Posts
Creative Real Estate Financing

Promissory note from family

Tyler Williams
  • Dentist
  • Taylorsville, UT
Posted

I'm buying (buy and hold) a property through my LLC and using funds borrowed from my brother to help with repairs (will have a traditional first mortgage as well).

Is it possible to setup the borrowed funds from my brother similar to a 2nd mortgage and also give him a % of the future sales price in the promissory note, even though he's not a member of the LLC?

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