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Updated over 5 years ago,

User Stats

8
Posts
1
Votes
Tom Roarabaugh
  • Rental Property Investor
1
Votes |
8
Posts

Raising money privately from a friend

Tom Roarabaugh
  • Rental Property Investor
Posted

Hello everyone, I have the option to borrow $35,000 from a friend as a loan. Lawyers would write everything up so it’s legal. He’s only charging me 2% on the entire loan for a 7 year period. I plan on taking that money and buying 3 sfh that will rent for $850-900 in my area. Problem I have is how do I get that money into the bank without raising red flags?

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