Rental Property Investor · Jasper, IN · Member since 2019 · 10 posts · 4 votes
I have been buying fix and flips along with brrr deals doe 4 years now. It has fought the attention of a few friends that have asked to put some money in for a return. I will still be using majority of my own money and offering them a 10% return. I have 3 deals lined up but I want to make sure I have the paperwork correct before taking any money. Does anyone have a template of reference I could work from and then take to my attorney if needed to verify everything. I have been reading “Raising private capital” along with anything else I can get my hand on.Any information would be appreciated. Thanks!
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
6y
@Account Closed It's good that you want to do it the right way. Sometimes people want to cut corners when the deal is between friends, but really you should protect your friend's money just like you would a stranger's.
To try to address your question, it's not just one form/template that you'll need. And the documents that you'll be using really should be provided by the lender (or their attorney), even though they're usually paid for by the borrower. A list of the most commonly used documents, along with some good advice, can be found in one of the responses (a few down from the top) in this thread: