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Updated about 9 years ago on . Most recent reply

Darren Natoli's profile image
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Darren Natoli
  • Investor
  • from Orlando, Florida
  • Member since Dec 2, 2015
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Darren Natoli
  • Investor
  • from Orlando, Florida
  • Member since Dec 2, 2015
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Darren Natoli
  • Investor
  • Orlando, FL
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Looking for short term loan for flip. Willing to pay 30% interest

Darren Natoli
  • Investor
  • Orlando, FL
Posted

Hi BP 

I have a great flip under contract that I am looking for a short term 40k loan that I am willing to pay back in 3-4 months with 30% interest. I currently have two rentals and 1 flip in the central Florida area now and most of my cash is tied up in these investments. 

Looking for
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Benjamin Pekarek's profile image
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Benjamin Pekarek
  • Rental Property Investor
  • from Asheville, NC
  • Member since Jul 11, 2015
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Benjamin Pekarek
  • Rental Property Investor
  • from Asheville, NC
  • Member since Jul 11, 2015
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Benjamin Pekarek
  • Rental Property Investor
  • Asheville, NC
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Benjamin Pekarek
  • Rental Property Investor
  • Asheville, NC
Replied

Darren,

The only way you'll be able to pay 30% is through a JV agreement. I frequently pay 20-50% interest, however, as John Thedford said above, anything over 17.99% per annum on a LOAN is illegal - an equity partnership has no ceiling.

-Ben

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