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66
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21
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Bab Adetiba
  • Investor
  • Dallas, TX
21
Votes |
66
Posts

Private lending for the rehab cost

Bab Adetiba
  • Investor
  • Dallas, TX
Posted

Of all the topics in real estate, lending, syndicating and crowdfunding are the most confusing for me. 

Simply stated, my LLC wants to be able to receive a loan from individuals to finance a rehab. I am finding so much conflicting information in regards to this scenario. I do not want to become a full-time syndicator or anything but I don't want to get in trouble with the law. These people are not accredited investors, just regular people who want a return on their money.

There has to be a simple way and term to permit this transaction with little paperwork and without an online platform as a custodian. Does a promissory note suffice for the private lenders?

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