Private lending loan documents needed

7 Replies

Hello all, 

I'm working on a deal that is supposed to close on Nov 13th. I am putting $10,000 down, which I am getting from 4 different private lenders (1k, 1k, 3k and 5k). The bank is providing the rest of the funds ($40,000) for the purchase and flip. 

I'm looking for a contract template for the private lending money. It needn't be terribly complicated; it's just 12 month financing with interest only payments, with the balance due at the end. Anyone have a good resource for that? 

I've used to generate a few contracts for my private investors - some interest only for 1 year, some for a share of the profits.  Type in the names, terms, etc and it generates a contract that you can print out or make a few final edits then print.

Paul Choi

    I've been looking for the same thing. Does anyone have copy of a contract they can share?

    @Paul Choi , thanks for the recommendation. I got a 7 day free trail (and set a calendar notification to cancel!), and the document was very simple to generate and save to PDF. 

    @Samuel Bavido Awesome! glad I can help.

    I still have a subscription to it.  Need various contracts for different investors and transactions.

    Paul Choi

      @Samuel Bavido I use rocket lawyer, I assume is just as good.

      Sean Carroll, Contractor

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