What is the best way to source a private lender (or partner) for a opportunity? I have a $3MM, 80 doors (mostly SFR), portfolio offered to me that grosses $43k a month. A 3rd generation family runs it and...well...many of these doors need love.
I have a PML who will do 100% purchase and rehab costs as long as we are at 75% but he needs $75k per loan and this is a lot of C class properties at the moment and they will not qualify. Plus I would have to do one at a time. I have a $1.+M portfolio now with decent reserves but I cant afford all the closing costs that come with this large a transaction. I need financing that can purchase the entire thing on essentially a bridge loan while I BRRRR them out. I had a partner who was going to let me just take $500k/14 doors and the closing costs to do so as my "unofficial wholesale fee" and he took the rest of $2.5M/66 doors of the would go to him but his 1031 fell through.
I really dont have anyone in my circle and, as a commercial banker, think it would be a little unethical to ask any of my clients. That one partner was really my only option locally.  I was thinking about reaching out to some Financial Advisers who may have clients who would be interested.  Are there any vetted investor websites (ex Lending Club, Prosper) or have I perhaps not come across yet the PML website/contact who would take this on? The deal supports itself very well (pretty much a 10% cap rate) even when I finance the entire purchase and closing costs.   All before the BRRRR.  Would love to hear the responses we can crowd source on this site. Thanks in advance