Updated over 9 years ago on . Most recent reply
Private Money - how to structure relationship?
Looking to make my first purchase and may have the option of taking private money. From what I've found, many people don't advise a newbie to go the private money way.
Assuming you did go that way, how do you structure the relationship to secure a mortgage without disqualifying yourself? I seems as if you do it the wrong way, private money is viewed as a loan and therefore not considered available for a down payment.
Although I'm not 100% sure how I want to structure the business, I know I'll want to remain in control (as much as possible) of it even in the instance I have investors.
Hose investors in mind today will most likely want to sit back and get some sort of income stream. The less involved the better.
Help?