BiggerPockets

Private money, maybe peer 2 peer lending like
this?

Steve:

There are hard money lenders out there that can close a deal in three business days. You need to seek out one of these companies and present the numbers to them. Although many of them want out within a short period of time, you will be able to find some who will let you hold for two years.

George

IMO, hard money is a very risky idea. If the property is well worth the enormous cost of the money, it may deserve consideration, however, you can never predict where will you be financially in one year. These are very fast and uncertain times we live in . If you get stuck with a hard money loan that you cannot refinance, you can lose the property and your good name in the process.

Private money is what it sound. Private. Meaning - individuals who have money and rather than leaving it in a bank account earning 2%-3% interest, they lend that money on better terms and rates. Private money can be your grandma, your friend, your business partner or an entity who has connection to investors who lend that money for a better return.
Hard money, is a form of business lending. The idea is that in exchange for higher risk, you get better return. The lenders usually more lenient when it comes to who they lend to, but in return, their terms and rate can be brutal. Hard money is mainly used as a short term solution for flipping, double closing, etc.

@SteveDove - I agree with @hakchinoyyou in that you should evaluate the feasibility of refinancing your existing properties into a commercial blanket loan to get them off your credit report. The rates on the commercial loan will be higher than conventional loans, but once you get the loans off your credit report you should be able to get financing for other deals.

@AndrewUrban - Re the difference between private lenders and hard money lenders, is hard money lenders are in the business of lending money. They typically advertise their services and are relatively easy to find (the trick is finding a good hard money lender that will do what they say). The benefit of using hard money lenders is that they can close quickly. However, hard money lenders are going to charge relatively high points/interest rates and have a fairly short loan term.

As @Eddie Ziv indicated private lenders are generally not in the business of lending money. They typically don't advertise, so you have to seek them out. The benefit of using private lenders is that you can typically get a loan with better rates and terms. The drawback is that that the private lender may take longer to evaluate your deal and close.