Updated over 7 years ago on . Most recent reply
Loan from a friend to purchase and fix a house for a rental.
If I get a loan from a friend to purchase and fix a house for a rental, do I refinance with a bank once I’m done and have a tenant? Thanks
Most Popular Reply
Yes! Unless your friend is very rich and is not worried about waiting a very long time, you would normally refinance and return the borrowed funds (plus interest, if any) if you looking to hold on to the property as a rental.