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Private Lending & Conventional Mortgage Advice
HomeForumsPrivate Lending & Conventional Mortgage AdviceLoan for 70k purchase price 40k rehab 20k what happens to 10 k
Xai Xiong's profile image
Xai Xiong's profile image
Xai Xiong
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  • Flipper
  • from Minneapolis, Minnesota
  • Member since Oct 31, 2015
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Xai Xiong's profile image
Xai Xiong's profile image
Xai Xiong
Pro Member
  • Flipper
  • from Minneapolis, Minnesota
  • Member since Oct 31, 2015
Connect
Xai Xiong
Pro Member
  • Flipper
  • Minneapolis, MN
9
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33
Posts
Private Lending & Conventional Mortgage Advice

Loan for 70k purchase price 40k rehab 20k what happens to 10 k

Xai Xiong
Pro Member
  • Flipper
  • Minneapolis, MN
Posted Nov 25 2015, 20:21

I am arguing with my friend that the 10 k left over will add on to paying the loan off is this correct? Or is this added on to loan regardless if I spend or not? This is a hard money loan.

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