Hard or Private Money Lender for Land Flips
Hello BP!
As a new real estate investor, I have been exploring each strategy real estate has to offer. The first thing that I explored was doing the BRRRR strategy. However, I didn't continue this since I couldn't find any deals that would allow me to do a full cash-out refinance. Now, I'm diving into the niche of land investing.
When I was pursuing the BRRRR strategy, one of the aspects that made scaling seem feasible was the availability of hard or private money lenders. In fact, during my short stint as an aspiring BRRRR investor, I successfully secured a pre-approval for a private money loan based on my net worth.
Now that I’ve shifted to land investing, I’m wondering: Do private or hard money lenders exist specifically for land flips? I’m curious about how financing works in this space, especially since land investments have unique challenges and opportunities compared to traditional property flips. Are there lenders who truly understand the nuances of land deals? Or is it more common for land investors to self-fund and scale gradually?
Thank you in advance for any advice, stories, or pointers you can share! I appreciate this community and look forward to learning from all of you.