Shy Private Lenders

[Jon Dawson]

I have done over 100+ fix and flips with my previous company in California, unfortunately I was not on title. I am currently in Texas now under a new company name, and all the private lenders I seem to be coming across our hesitant to pull the trigger on any deals.

I understand our on paper track record has something do do with it, having only done 3 flips under this company name. But our team has the skill and the previous work experience to back up. Somehow I find my Private lenders all on board until its time to pull the trigger and send the money. This often leaves me days away from closing, having to pull out my own personal capital, using a different lender, or going with one of our past hard money lenders. 

Does anyone have some advice as to how I can avoid this? Or maybe have a different structure until we complete our next 10-15 flips?

Thank you,

Jon Dawson  

[Caleb Heimsoth]

@Jon Dawson. Does the 100 flips in California mean you were an employee for someone else? That’s very different then doing it yourself if that’s the case. I’d probably start with hard money to build more of a track record, they’ll be less picky. What terms are you offering?