Investor · Sewell, NJ · Member since 2016 · 17 posts · 3 votes
Hello. I’ve done about 6 flips in the last 10 months with a 50/50 equity partner. However, moving forward I’d like to do some without the partner. I️ have a few aunts that have a couple hundred thousand dollars they are willing to lend, but I’d need to understand the private lending process before borrowing their money. We discussed a 10% return and they are happy with that. Any advice on how to structure it all, or resources to find out how to start the process would be greatly appreciated. Thanks in advance
I would suggest talking with a title company or real estate attorney and have them draw up a note and mortgage doc for you to use. They'll also be able to give you guidance about requirements, structuring, etc.