Borrowing Money

[Kyle Spearin]

How much time are you given before being required to pay it back if you work with a money lender?

[Nick Baldo]

Completely dependent on your terms with the lender. 

A traditional loan from a bank is typically amortized over 10-15-20-30 years. This means you pay a little principal back each year. 

There also exists an "Interest Only" loan. These loans require you to make monthly interest payments and pay the entire principal back in one lump sum at the end of the loan (e.g. after one year). 

For private lenders, things are typically on the shorter side. My personal experience has been that private lenders will typically want their money back within 1 year on a flip...maybe 3-5 on some other creative/ rental deal.