Updated over 8 years ago on . Most recent reply
Chicken or the Egg? Which is first?
So I understand what private lending is. I'm just having a hard time pulling the trigger. Here's what I have. I have a deal that I like. Acquisition is 100k needs about 50k, ARV is 225k on low end. (I like to be conservative) So I wanna put an offer in and get the ball rolling however now I gotta get my private money in order with showing my guys the deal. Because I have to show proof of funds when making the offer, by that time I will lose this deal. So my question is for people that use private money! Do you have the money that you are borrowing from private lenders in your account prior to finding a deal? What if you find a good deal and need to pounce like a cheetah? Maybe I'm thinking of it wrong.
Thanks for anyone's help on this subject.