Private "Intra-Family" Loan - Secured against RE owned or

[Will F.]

Intra- Family loans are just loans between family. The benefit would be lower interest rates for borrower and higher interest rates for the lender (compared to holding money in CD or bank)nerdwallet heres a brief article about these type of loans.

Anyways. I was wondering what you all suggest as to how I go about this:

1: personal loan, have him wire me money and I pay as cash buyer. (Benefits- this might allow me to pull out more money in future out of the property as it won't show up in credit checks etc -allow me to make future RE investment purchases if I pull a line of credit or loan) OR
2: I could SECURE the loan using this as my primary residence. I believe I would have to document this on the deed (Benefits: Primary residence-write off full interest amount yearly off of Tax returns. Will help build credit worthiness with history of mortgage payments)