Dear All,
I have a property under contract that I plan to tear down and build two condo units.
I have a mentor who is extremely experienced in this aspect of investing.
I have mortgages that are being negotiated on to be paid off, hence the private lender.
I have a potential investor who may invest with me on this deal.
My question is; I need clarification on the requirements of what a private lender would be vs. a money partner / credit partner. The money partner would require a split on the profits but I have put the deal together and even have mentors that are assisting me on the deal hence don’t need the potential investors r.e. advice… just his funds. Would this potential investor on my deal fall under private lender. I understand everything is negotiable but just need clarification.
Transparency is important to me.
Thanks for any input.
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