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Private Lending & Conventional Mortgage Advice

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Kevin Stalbaum
  • Investor
  • Libertyville, IL
10
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11
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What is the proper documentation for private funding for a flip?

Kevin Stalbaum
  • Investor
  • Libertyville, IL
Posted Oct 18 2017, 19:37
I will be purchasing my 4th flip and for this project it's my first time borrowing funding. Purchase price is $150k of which I'll be borrowing $100k from a friends family member. What is the best legal agreement in this case that covers both parties interests? Secondarily, looking for advise how to properly handle the form a tax perspective? I want to make sure that I have what I need to write off the interest expense. Thanks in advance!

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