Hard Money Loans for the smaller company

Multi-Family and Apartment Investing
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Hard Money Loans for the smaller company

Phillippa Atkins
George, Western Cape · Member since 2017 · 4 posts · 1 vote

Hi

I want to apologise upfront - I am new to Bigger Pockets. 

How does a new small firm get funding. It' so difficult and especially if you not in USA. 

When all you have is experience. 

We are small. We are from South Africa. 

We've been given a opportunity to fullt develop 50 full title homes in a residential estate. 

And you don't have access to conventional methods nor SMME.

I have found that people will invest in mentoring you etc but when it comes to a big brother in finance, I have yet to find someone.

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  • Willem Botha
    Investor · Centurion, Gauteng · Member since 2016 · 45 posts · 44 votes
    8y

    Hi Phillippa

    Welcome to Bigger Pockets. You will find a lot of information and guidance here. However, from what I can see in your post there is not enough information. You can make use of a massive amount of information (maybe starting with the the Podcasts) and use it to the best of your ability in our local market - here in South Africa. 

    If you ask the "right" people you will find that there is some hard money lenders in South Africa as well, but you will have to bring something (probably a bit more than experience) to the table. 

    I hope you manage to get your project of the ground soon.

    0Reply
  • Joe Hughis
    Lender · New York City, NY · Member since 2017 · 194 posts · 56 votes
    8y

    @Phillippa Atkins - Are there not any private money lenders in South Africa? 

    0Reply
  • Phillippa Atkins
    OP
    George, Western Cape · Member since 2017 · 4 posts · 1 vote
    8y

    Hi Joe, not really. Money lenders here are small loans.

    There is bridging finance but it' similar to conventional methods.

    0Reply
  • Phillippa Atkins
    OP
    George, Western Cape · Member since 2017 · 4 posts · 1 vote
    8y

    Thank you Willem

    0Reply
  • Taka Sande
    Investor · Pretoria, Gauteng · Member since 2014 · 12 posts · 9 votes
    8y

    I agree with you @Phillippa Atkins. Its easy to get small loans but not enough for building. 

    On the other hand banks have structured traditional products and are not willing to finance small developments like two or three properties. 

    Perhaps try TUHF. They funds housing projects in certain focus areas. 

    0Reply
  • Phillippa Atkins
    OP
    George, Western Cape · Member since 2017 · 4 posts · 1 vote
    8y

    Thank you Taka.

    0Reply
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