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All Forum Posts by: JJ Mayer

JJ Mayer has started 13 posts and replied 41 times.

Private Lending & Conventional Mortgage Advice

Post: Need Example Private Lending Agreement

JJ MayerPosted
  • Rental Property Investor
  • Bloomington, IL
  • Posts 48
  • Votes 8

Hey BP Community, hoping you can help me out...

The Set Up: Buying my 2nd buy-and-hold rental property, and this time I've found a relative who's willing to lend me $75k to finance the deal.  Having never done this before, I want to do it right (but without the cost of an attorney)

My Request: Although it's not required, I'd like to put together some sort of loan agreement between me and and this new "private money lender", especially since this relative has never really loaned so much capital before.  Does anyone have a private lending agreement they could share with me?  (preferably non-recourse)  ...I didn't see anything in the BP FilePlace, but maybe I missed soemthing that's already there???

Thanks in advance!!!

JJ

0 Votes