Hello can anyone give me some insight on how to find private money lenders along with the pros and cons with using them for real estate investing?
Welcome to BP. Anyone with money can become a private lender. Share your story and your plan with everyone you meet. There are quite a few members of this site who are lenders. Lenders, or potential lenders, also attend Real Estate Investment Association meetings. Do a search for some in your area. Attend and when you do make sure you meet people.
Do some searching on private lenders. Don't get them confused with those who seek lending opportunities, those are Hard Money Lenders not private lender lender/investors regardless of what they may claim. Private money is from persons that you know, where you have some past relationship with, either personal or business. It takes time to develop a pool of private lenders, as Jeff mentioned, it's about meeting people and letting them know what you do (pretty much without asking for money initially). When others see that you are successful, they will inquire about what you do and that is when you spring your pitch that they have an opportunity to join you. How that is done is covered in various posts already. Good luck :)
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