Poll: Private money docs
1 Reply
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posted over 3 years agoHi everyone,
I am looking to structure a flip with two private money lenders. They will receive 50% of the profits from the flip. I have heard of a few ways to do it...
1. Set up an LLC and issue a mortgage and unsecured loan document (picked this up from @Mike Simmons podcast #50)
2. Keep it simple and have the title company draw up a note with the terms.
Question
Which do you use? Recommend?
Best,
-JD