Posted 11/3/2017 00:10 (#6342589 - in reply to #6340787) Subject: RE: Land sale, still old money left
West Central Iowa
JC STONE - 11/2/2017 07:51
Did you have to pay a premium for this money?
I paid interest yes.
borrowing terms were better than any financial institution could ever offer. interest may have been higher, but the length of loans was spread over longer term. there were also agreements about early payments and if they wanted to sell the loan to someone else. term debt was way cheaper through private money than through a bank.
like say... if I were to default, they might have broken my legs, but they wouldn't sell me out like a bank would
Land sale, still old money left
