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Updated over 6 years ago on .

Hutcherson Yearwood's profile image
Hutcherson Yearwood's profile image
Hutcherson Yearwood
  • Rental Property Investor
  • from Lake County, IL
  • Member since May 18, 2016

User Stats

34
Posts
11
Votes
Hutcherson Yearwood's profile image
Hutcherson Yearwood's profile image
Hutcherson Yearwood
  • Rental Property Investor
  • from Lake County, IL
  • Member since May 18, 2016
Hutcherson Yearwood
  • Rental Property Investor
  • Lake County, IL
11
Votes |
34
Posts
Private Lending & Conventional Mortgage Advice

First time funding a note.

Hutcherson Yearwood
  • Rental Property Investor
  • Lake County, IL
Posted

BP Members,

I have agreed to loan  60k  with  6% interest for 7 years. The gentleman I am loaning the money to is asking for a letter of intent. I know what a letter of intent to buy is for but not to loan. I have never loaned this amount of money before, is this common? I thank you in advance.

Hutch.

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