Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago, 01/13/2018

User Stats

66
Posts
21
Votes
Bab Adetiba
  • Investor
  • Dallas, TX
21
Votes |
66
Posts

Private lending for the rehab cost

Bab Adetiba
  • Investor
  • Dallas, TX
Posted

Of all the topics in real estate, lending, syndicating and crowdfunding are the most confusing for me. 

Simply stated, my LLC wants to be able to receive a loan from individuals to finance a rehab. I am finding so much conflicting information in regards to this scenario. I do not want to become a full-time syndicator or anything but I don't want to get in trouble with the law. These people are not accredited investors, just regular people who want a return on their money.

There has to be a simple way and term to permit this transaction with little paperwork and without an online platform as a custodian. Does a promissory note suffice for the private lenders?

Loading replies...