Borrowing $ to BRRRR a duplex but need the contract forthe lender

Borrowing $ to BRRRR a duplex but need the contract forthe lender

Rental Property Investor · Long Beach, CA · Member since 2015 · 623 posts · 155 votes

Hi All,

Looks like I'm going to be picking up my next duplex and this time I'm using some creative financing. Well it's not all that creative but it has it's own uniqueness. I'm borrowing money with no interest. 

Basically I'm going to borrow money and BRRRR a duplex without having to pay interest on the money loaned. First off, does anybody have any experience doing this? My first concern is the agreement between myself and the lender. I need a contract or agreement. I scoured the files here on BP but couldn't find anything. Does anybody have an agreement they wouldn't mind sharing with me? I'd really appreciate it. Thanks.

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  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    10y

    Local title company will have the things you need if you're trying to skip a lawyer.

    Also, what is this madness? Now I have to compete with hard money guys charging 0%? What's in it for him?

  • Rental Property Investor · Long Beach, CA · Member since 2015 · 623 posts · 155 votes
    10y

    @Chris Mason thanks for the title company suggestion. 

    You have nothing to worry about, we're trading, he's not charging me and I'm helping him. 

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