Private money Terms
Hey BP,
I'm really wanting to start raising private money but I'm curious as to the terms private money lenders set. I know that it varies but I'm really curious to know the average term of the private money loan. Is it 6,12,18 months? Is any longer than that not typical?
Do priavte money lenders expect monthly payments every time or are there scenarios where they invest and wait til the maturity date to get back their money? Is balloon financing ever used?
So many questions, I know. But I'm at the point where I'd like to borrow from private lenders but I want to make them an offer that is appealing for them and still feasible for me. Thanks a ton!
John