Parents are acting as the HARD MONEY LENDERS

[Andrew Pettit]

Hey BB,

        I am wondering what will the tax implications be if they act as the 'Hard Money Lender.' Is there a way to shelter them from the tax burden and how should I go about this any tips? 

Thanks. 

[Steve Hall]

@Andrew Pettit They can give you a gift you up to $15,000 per year. If you're talking about borrowing more than that, you should be consulting with an attorney AND an accountant.