Locating Private Lenders
I have tried running ads on craigslist looking for private investors to fund down payments on income property I am looking to hold long term. I have only had one response and it was not really what I was looking for. I was wondering if anyone on here has experience with advertising to private investors? Ideally I would like to borrow 30-40k to finance the whole purchase, but 5k is what I am initally looking for to borrow at a time to pay the down on owner financed properties. Any suggestions? What would be acceptable terms? I was offering 3yrs 10% on a 5k note. Thanks
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There are lots of SEC laws about marketing for investors. I'm not too familiar with them, but I am pretty sure you cant put out mass advertising like newspaper ads asking for money in exchange for security in a property.