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Updated over 9 years ago on . Most recent reply

Eric Griemsmann's profile image
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Eric Griemsmann
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Eric Griemsmann
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Eric Griemsmann
  • Investor
  • Stuart, FL
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Creative Real Estate Financing

Interest

Eric Griemsmann
  • Investor
  • Stuart, FL
Posted

How much interest would it be from a hard money lender for a 45,000 pull with a 5% interest rate that it would take about 90 days to sell. Just want to see if it matches my numbers that i am figuring.

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Josh C.
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  • from Indianapolis, IN
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Josh C.
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Josh C.
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  • Indianapolis, IN
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Josh C.
  • Property Manager
  • Indianapolis, IN
Replied

I agree with Ned. Only person going to do that deal is your mom. I borrowed around that amount and paid 10 points flat. Held money for 5 months. I was happy and they were happy. Put yourself in the other persons shoes when pitching business ideas. Would you lend a stranger 45k for $500?

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