Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago on . Most recent reply

User Stats

77
Posts
58
Votes
Michael Dallas
  • New to Real Estate
  • Memphis, TN
58
Votes |
77
Posts

1st private money deal

Michael Dallas
  • New to Real Estate
  • Memphis, TN
Posted

I am 21 years old and currently playing baseball at a D1 college. I bought my 1st house hack property last year which has done very well for me. So obviously I have caught the bug and want to buy more! I am looking to buy another property this summer and house hack that one. As a college student traditional financing won’t work for me anymore as I already had to get my father to co-sign my 1st loan. I am in talks with a private money lender right now who is killing it as an agent and doing flips. Said he is very interested in lending if it makes us both some money!

What questions should I be asking him for us both to get the best terms so that we both make money on this deal?? 

Thank yall so much for the insight!! Can’t wait to learn!

  • Michael Dallas
  • Most Popular Reply

    User Stats

    951
    Posts
    441
    Votes
    Ko Kashiwagi
    • Lender
    • Los Angeles, CA
    441
    Votes |
    951
    Posts
    Ko Kashiwagi
    • Lender
    • Los Angeles, CA
    Replied

    Hi Michael,

    Great to see you get into see as a college student! What does "make use both some money" mean? Does this mean partnering on the deal or just her lending money at points and rates? An important consideration is the max LTV she's offering, points, general rates and financing periods.

  • Ko Kashiwagi
  • 310-848-9776
  • Loading replies...