Investor · Raleigh, NC · Member since 2019 · 433 posts · 743 votes
I am super excited to be using Private Money for the first time to do a deal. My first deal ever was a vanilla MLS deal, my second was personal cash off market acquisition BRRRR deal (purchased and rehabbed for 92k, pulled out 99k off a 124k ARV! instant profit), now my third I'll be learning and using a new skill of raising private money! Thanks BiggerPockets community! Couldn't do it without you!
That being said, I'm looking for contracts or forms that people use when ever they're borrowing private money. Can anybody help me out? Thank you!
However, I would recommend discussing forms like that with an attorney to be sure you're setting yourself and your lenders up for success. Best wishes to you!
However, I would recommend discussing forms like that with an attorney to be sure you're setting yourself and your lenders up for success. Best wishes to you!
@Tucker Cummings Congrats on your success man. I haven’t read it yet but I just bought the Matt Faircloth Raising Private Capital book and the bonus content mentions the paperwork you’ll need when using private money. Good Luck man 👍🏾👍🏾
Congrats on using different strategies. I’ve completed many private lender transactions. Always use a local attorney where the state law applies. There are many variables that apply per each state statute. By all means protect your investors money. Treat it as if it where your grandmothers money.
@Tucker Cummings Congrats on your success man. I haven’t read it yet but I just bought the Matt Faircloth Raising Private Capital book and the bonus content mentions the paperwork you’ll need when using private money. Good Luck man 👍🏾👍🏾
Thanks for the reminder! I read his book a few months ago. I’ll have to go back in and check it out