Private Lending Advice

2 Replies

If possible i need a little advice on how to ask someone for private financing. So far this past year I have successfully done 4 deals using the famous brrrr method and I am currently waiting on the refi on another property. Currently I have 4 deals set to close this month all cash and I do not want to extend out most of my personal cash to close them all at once. (I really did not expect 4 offers to be accepted all around the same time).

All of the deals fit my requirements and will cash flow well and before i decide to walk away from 1 I want to try to secure private lending to finance one of the projects.

Can anyone give me any advice on going about asking for private money and also on how to structure the proposal?

Thank you in advance

ps. follow my instagram @glaudproperty lol 

Sounds like you have capital to work with. I don't understand why you aren't talking to a commercial bank. They like people with money. Until they say 'no', I'd say talk to a commercial bank. The smaller and more local to you and your properties the better.

@Ka'lial Glaud - There are some great blog posts around BiggerPockets about raising capital from Private Lenders. Several of them written by @Elizabeth Faircloth . There is also an SJREIA event coming up that @Joseph Scorese has advertised here on Bigger Pockets about attracting Private Lending. Strongly suggest that you spend some time searching around these resources as sometimes getting private money is super easy if its someone you have a great close relationship with. Other times its more complicated as you have to make your case and building credibility with them.