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Updated 9 months ago on . Most recent reply

Jonathan Meltz's profile image
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Jonathan Meltz
  • Member since Jan 26, 2019
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Jonathan Meltz's profile image
Jonathan Meltz's profile image
Jonathan Meltz
  • Member since Jan 26, 2019
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Jonathan Meltz
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Creative Real Estate Financing

Family loan for Deal

Jonathan Meltz
Posted

How would you ask a family member to loan to you for a real estate deal?

Background:

I am under contract for a 3 unit property and have traditional financing available but have thought about the idea of asking a family member to loan me the money instead.

What should I purpose the interest rate be? The interest rate I got from the lender? 

Would the closing costs change?

Anything else I should consider?

 

  • Jonathan Meltz
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