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Updated over 7 years ago on . Most recent reply

Shiv Jey's profile image
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Shiv Jey
  • from Seattle, Washington
  • Member since Sep 26, 2016
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Shiv Jey's profile image
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Shiv Jey
  • from Seattle, Washington
  • Member since Sep 26, 2016
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Shiv Jey
  • Seattle, WA
17
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Seattle Real Estate Forum

Short-term "gift" loan

Shiv Jey
  • Seattle, WA
Posted

I'm looking for ideas.

I found a great house I'd like to buy but it's a month too early.  On June 30th I will have the funds needed, but for now I'm 20k short for a loan.  One idea I've had is to have family "gift" me the money, and I will repay them on June 30th.  However, I really don't want to get family involved.

Does anyone have any other ideas?

Seattle, Washington
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Caleb Heimsoth's profile image
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Caleb Heimsoth
  • Rental Property Investor
  • from Durham, NC
  • Member since Oct 1, 2016
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Caleb Heimsoth's profile image
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Caleb Heimsoth
  • Rental Property Investor
  • from Durham, NC
  • Member since Oct 1, 2016
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
Replied

Why would someone just give you 20k just to get 20k back? They take all the risk. Get a short term loan

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