satbmt

Friend is. Well put, thanks!

Now thats funny!! said friend is a business partner in several deals 0 risk no matter what happens with this deal, it wouldn't sour our relationship, very good advice though. I like your take on "friend" vs "soso friend" interest rates, in the mean time I've thought about an interest only option that would be an easy way to keep the money for the timeframe, and the longer I keep it the more interest he makes. I agree 100% on the possibility of ruining friendships, I've learned many lessons over the years and generally if I loan out money I am ready to lose it and possibly the borrower.

I agree with your last line but I have other motivating factors that the profit doesn't matter that much to me in this deal....although I don't want to go negative. What would be a fair price to pay my friend on 130k for 4 months, 2 months? What would you loan it out for if you had it? What would you pay to borrow it? I could also put the remodel costs in the loan.

Hi Members, I am about to purchase a house to flip and would like some advice on where to borrow the money. I could get a traditional mortgage or borrow from a close friend. Time frame is most likely 4 months cradle to grave if all goes to plan. I do have quite a lot of experience in remodels.... I would like to borrow from the friend and let them make some $$ but am having a hard time figuring what they should be paid to make it worth their while. I could get a mortgage fairly easily but will take a month to get through the transaction, where as the private funds come immediately. details 130k purchase price 20k remodel costs doesn't include my labor/time 185k resale price, possibly 195k 9.25k realitor Any ideas?

Never purchased anything from dnb. They did merge the previous owners business file with mine 10 years ago so it gives me an additional 15 years as file start date, never asked they just did it. It's like I got all the good and none of the bad when this happened. I am a guarantor on all accounts/corps if I find out any different than your reply i'll be back to post. Thanks

I have several corps that all have credit, does anyone have experience in the larger creditors, amex, wf, citi etc merging the credit accounts or know of a way to get this done? DnB said they would merge all credit profiles and keep the oldest date which seems pretty cool.

Predatory or not it is/was the consumers choice to walk in and get the loan........what has happened to personal responsibility?

I have 5 between personal and 2 separate businesses, just applied for a 6th for a new corp I just started and was denied....matter of fact they didn't even pull my credit....Anyone have more than 5?

DW called citi today to see if apr could be lowered on one of her cards and although they couldnt lower the apr...the csr told her why not just bt her available credit to her checking and send the money back in and it will pay off the higher apr 1st.... will cost 3% but will pay for itself in 3 months. csr did say it's not allowed but basically who would ever know.......opinions on doing this needed please.

I am feeling the same way figured i'd check around to see if it seemed legit. I looked up and down for a new processor for my last location and it seems like they are all scammers at some point. Who do you recommend?

I am using a nutruit 2085 and just got an email saying that I would no longer be able to accept discover cards with this terminal as discover "changed there numbers" and there is some programming mistake. Processor says discover is covering 1/2 of a new machine if I want to upgrade. Has anyone else got this lately? I've had no complaints from my staff about declines but dont get that many discover cards either.

nope it will stand on its own

Starting a new business, currently have an s-corp, my acct tells me to do another s-corp.....retail sales is the gig...... Anyone have advice before I have my accountant register the new s corp?

hmmmm.....all banks in the last 8 years ive delt with require all signers, owners/officers on the acct to give ssn. gfy if you did, but why does it matter?