Private Lending

6 Replies

I'm looking to purchase a property in Merrillville, Indiana and flip it. What are good ways I can go about obtaining funds with reasonable terms under my LLC? I normally just contract houses and wholesale them but I want to move up to buying the property to hold for resale. I'm tired of contracting home plus I rather not contract homes that may take some time to find a buyer for. Are there any Biggerpockets members that provide private lending or know someone that I can connect with on this matter? I want to do this real estate business smarter and make sure the seller is taken care of before I bring the property to another buyer after closing. PM me or reply please, thanks!

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@Chavis Atkins

Finding Private Lenders is easy when you have a Transaction with high profit margins and you have High Experience with a Track Record to Show. You can make an agreement saying that the Private Lender will put up the Capital, while you render service and carry out the rehab. Once the property is fixed up and sold, You and The Private Lender will Split Profits 50/50, or whatever the agreed upon split would be.

Usual Private Lenders are friends and family and High Net Worth Professionals (doctors, lawyers, other real estate investors)