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Updated almost 7 years ago on . Most recent reply

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23
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2
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Kyle Z.
  • King Of Prussia, PA
2
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23
Posts

Uncle wants to borrow from me, what are my risks??

Kyle Z.
  • King Of Prussia, PA
Posted

Heres a quick run-down of the situation.

My uncle wants to borrow 65k from me (for a flip) from a line of credit I have.  I don't love the idea but I will be away with the military for a couple months so I won't be doing anything with the money anyway.  I explained to him that I would need it back after 3 months and he complied.  I will be paying about 4.5% once taken out.  What are my risks? and how much should I require from him to make it worth my while/ risks? 

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