Cash potential investor/buyer
Hey all
I have 2 houses that we flipped and are currently selling here in Louisiana. I have a woman who is very interested in both of them and is trying to pick one of the 2. She has all cash.
The houses are 163k and 170k.
She is wondering wether to buy all cash or get a mortgage and she also wants to invest her money. She is young( in her 30's) and just recently had a windfall.
Here is my question. After thinking about it for a while. I was wondering about asking if she would be interested in investing in our business with part of her money. I would not feel uncomfortable asking, since she knows who I am and my character. But I am wondering what is the best way to go about this.
If she was interested, she could buy the house With a partial mortgage, say 120k cash down and the rest in a conventional mortgage. Take the rest of the cash ($50k) and invest with with us at 10-12% interest.
AND what is the best way to utilize that money without paying interest on it when there is not a project going on. Do people typically just pay interest on investors money while they are between projects?
Thanks for any advice. I'll keep you posted on how it goes. We will talk sometime today. :)