Private money contract template

Private Lending & Conventional Mortgage Advice 9 Replies

Hello BP Community,

So, I have a deal going on as we speak. I procured my property with cash, but I needed money for the rehab. I came to an agreement with a family member to get some of the rehab money from them and I would pay a flat interest on the money borrowed. The project is about finished and I want to have a professional looking agreement for both of our records. Does someone have a decent looking private money contract that we can both sign that will look legit? Anything would help. Thank you. 

Sounds like all you'll need is a promissory note. Check google for a template.

Wouldn't have made more sense to sign the contract at the beginning of the loan not the end?

@Paul Bowers it would for sure. However, because it's my mother, I was being a little bit more casual. Nonetheless, that is what I should've done. 

Promisory note from vertex42.com is cool. No contract needed.