Investor advice
Hi there,
I've been trying to raise $45k for a couple of months to finalize a deal, but haven't been able to find the right partner.
I came across a company, The Funding Group (TFG) which goes to all their lenders and raises money on your behalf. In exchange for that they charge a 12% fee. Also, each lender they go to needs to run a credit report. As a result you can have multiple hits on your credit with no guarantee of getting the funding.
I'm looking for some advice here. How should I approach this? I'd very much prefer to find my own lending source, but it hasn't worked out (mostly because the loan would be a second lien position due to the seller financing). Is something like this a terrible idea?
Thanks for your help!
Robert.
