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Updated about 3 years ago on .
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Lending Private Money
Hello everyone,
I am a brand new real estate investor in the Indianapolis, Indiana area. I have an opportunity to invest in the rehab of a flip that is currently in the process. The investment would be private money from my personal accounts for a guaranteed interest rate paid as a lump sum at time of sale.
What type of contract should I use to document the exchange of funds? The money coming from my personal name to their LLC.
Also, what tax forms should I request/ provide? Ex.) W9, K1, 1099, etc.
Thanks in advance!
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John Underwood
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
Pro Member
#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
Get an attorney to create a 1st position mortgage against the property.