Posted by Rich[FL] on February 21, 2005 at 11:21:01:
In Reply to: Hard money lender? posted by Dennis on February 20, 2005 at 18:19:33:
Yes. However, it is almost universally true that it isn't generally a good idea to do business with relatives. There are tons of stories about deals like this going bad with all parties of the family ending up hating each other.
On the other hand, I'm sure there are tons of stories we DON'T hear about where everything went well. If you decide to go this route, just make sure that all parties go in knowing all the answers, like what happens if you can't pay; what happens if you need more money because of some big unknown and unexpected expense? etc...
Good luck!
Rich