All Forum Posts by: David Marzullo

Sonya,

The usury law in Pennsylvania is no more than 6% if an amount of $50K or less in loaned. I cannot seem to find if there is a limit over $50K will be contacting my attorney.  But at a max of 6% this is most certainly not worth it.

Thank you all for the thoughts there is much more to this than I thought. I will have to get with my attorney and decide the best course of action. I really appreciate all of the comments, thank you so much.

Dave

Hi, I'm new to bigger pockets I'm interested in different areas to earn passive income. I was approached by a friend who currently has 4 rental properties and is looking for a fifth however his debt to income ratio is limiting his ability to get another conventional loan.  He's looking for me to be his private lender. He needs $30K - $50K what type of rates do private lenders usually charge? Also, it seems most private lenders get points is this accurate?

Thanks,

Dave