Hey BP community

I am in the process of raising private money, I have been somewhat successful raising 20k between two lenders. The issue I run across is I have people able to lend 10-15K and not the amount that would cover the whole cost of the property. In my area to purchase a property it would require around 30 to 40K. I have used some lenders money to pay for the down payment for two of my properties. I currently have someone looking to invest 15k with me. Does anybody have any advice to best utilize private money when it may not cover the entire cost of the property?

thanks

Jonathan

Hey @Jonathan Brown !

Two thoughts:

1. Find bigger fish - Assuming you've got an established track record of successfully borrowing and paying off private lenders (PLs), it's probably time for you to move on to folks who just have more money to lend. I promise you, there are already folks within your current circle who have significant funds that are languishing at 2% returns who would love to talk to you.
2. Create your own farm system - For those PLs with just $10-15K to invest, consider putting them in touch with investors who can do something constructive with those amounts. Then, as their investment funds grow, they can eventually move up to the Big Leagues and fund your deals!

I agree, you gotta go to networking groups or find bigger fish that can lend you the full amount and make them a 50% JV partner etc