Hi! I'm new to this site. I'm looking to locate funding for a rehab project that I have near a hospital in Baltimore. The location is great, but the place is in dire need of some TLC. What are your favorite ways to get funding? How do I utilize this site to network for funding?
Hi Melinda, welcome to BP. Set up some keyword alerts so you can be notified of posts of topics you are interested in. I would really recommend going to local REIAs and/or Meetups to start networking - you may find private money that way that will work for your project. I would recommend the Baltimore/Washington Investors Meetup (go to meetup.com and search for it) since you are in Oakton, that's the closest one to you that I know of that has lots of Baltimore investors attending it. It's great, there are a lot of BP Rockstars that attend and present there and it's FREE.
You can also look for hard money on this site and others. Be aware that Baltimore is very much a cash-player town. [REMOVED] And if an HML won't lend, most likely a private lender won't either (at least an investor that knows what s/he is doing).
Welcome to the site @Melinda Curle . If you're looking for the name of a hard money lender you will need to post in the Marketplace forum.
One of the best ways to find good bank lending or hard money lenders is locally. Attend REIA's or other local events in your area and ask around. Bank financing is cheapest, if it will qualify. Hard money is expensive, but might work for the right deal. In either case, you will need a significant portion of the funds of your own money.
Private lenders are people you know personally. If they advertise, or respond to ads, they're a hard money lender. You meet them by talking to everyone you know and everyone you meet about what you do.
Oops! I forgot you can't post ads anywhere other than the marketplace - sorry @Jon Holdman
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