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Updated about 2 years ago on . Most recent reply

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37
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Daniel Dexter
  • Developer
  • Grand Haven, MI
6
Votes |
37
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Objective feedback on family loan

Daniel Dexter
  • Developer
  • Grand Haven, MI
Posted

I would appreciate some objective feedback

I'm looking to take a loan from a close family member...I want to give them a decent return on their investment as you would with any other investor/partner that's fair to both parties. They are offering to front $150k, allowing us to put in a cash offer. I'm confident we can live there (saving us rent elsewhere) and double the value. I was thinking 10-12% compounded monthly..... Realistically I think we could cash out refi in a year. So $15-20k back to them and I'd be out of pocket for repair costs only. 

Thoughts??? What's a typical return for silent partners?

Most Popular Reply

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9,861
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5,557
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Eliott Elias
  • Investor
  • Austin, TX
5,557
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9,861
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Eliott Elias
  • Investor
  • Austin, TX
Replied

You need to provide more solid numbers, it is all negotiable. You can compare to what the market is charging in terms of points & interest rate, but you should be aiming to get the best terms possible. 

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