Updated almost 10 years ago on . Most recent reply
ADVICE- Getting money from private lender
I have found a property with my cousin (business partner) and it is our first property. It is a multifamily property and is our first deal. I have someone who is going to help us get the loans we need from the bank, but we are going to need to get the down payment from a private lender.. We have one to reach out to right now but I'm definitely nervous since it is my first time going through this and we don't have experience in every part of this business. I am hoping someone can offer me all the advice I need to know what to expect from the lender, as well as knowing what I need to say and confidence to know I can go get a deal done. I know we are ready to do this. Just hoping someone else will be able to look at the risk based on the whole deal. Please if you have any input or can help us get prepared for the first talk we have with the lender it would be a huge deal to us. We do need to hurry because I do believe someone else made an offer on it if I'm not mistaken. Thank you if you take the time to help someone like me!