All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Coronavirus Content & Resources Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Companies Hard Money Lenders Contractors Investment Companies

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books New York
ForumsArrowPrivate Lending & Conventional Mortgage AdviceArrowWhat is the best way to look for private money
  • Newest Posts
    • Newest Posts
    • Unanswered Discussions
  • Trending
    • Top Discussions
    • Trending Discussions
  • Browse Forums
Search Nova
Create post

What is the best way to look for private money

3 Replies

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Eric Steinman
Rental Property Investor

posted about 1 year ago

What is the best way to look for private money no longer than six months to a year for the terms

Rotate Log in or sign up to reply
user profile avatar
  • Posts 6.2K
  • Votes 3.7K

Aaron K.
Specialist from Riverside, CA

replied about 1 year ago

Owner financing or hard money

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Traditional Financing, and Real Estate Finance
  • Posts 281
  • Votes 225

Jeff Cichocki
Lender from Green Bay, WI

replied about 1 year ago

When you are looking for money, understand that nothing is more important that the return OF the money. It is not the return on the money.

I can only speak for myself as a lender... But to me there are really 2 massively important things in a deal to look at.

1. Is it really a good deal? How did you get your numbers? How accurate are your estimates? Etc. if it's not a good deal, nothing else matters.

2. Are you capable of doing the deal? Do you have the skills and leadership required to run & manage the project to completion in a timely fashion. If you're not... Do you have a mentor/coach/partner (one that will be on sight with you - not some national guru who can't see what you see). Do they have the capability to get you through the project?

If the answer to either or both of the above questions is no, then nothing else matters. You can have a perfect credit score, gobs of cash in the bank, a great job, etc. None of it matters if it's not a good deal and you can't get it across the finish line. I know this is text, so please don't interpret this as harsh. It's not meant to be. It's just to point out what the most important aspect of the deal and you are. If you can solve those two things, the money is easy.

The reason that these two questions are the most important to me is that I've never had an investor (new or seasoned) think to themselves that they were going to lose money in the deal. Good lenders think about losing money. You have to relieve that concern. Show us how we'll be paid back if things go wrong.

There are lots of hard money & private lenders out there. Show them how and why this is a good deal, why they will make money with you and how you'll take care of them and it's not usually a problem.

I only lend in Wisconsin or I'd offer to help. But, I hope at least my insight helps you get what you need easier.

Good luck!

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Team, and Single Family
  • Posts 1.6K
  • Votes 1.5K

Nicole Heasley
Real Estate Consultant from Youngstown, OH

replied about 1 year ago

Go to your local REI meetup.

Rotate Log in or sign up to reply
  • 1
Related Resources Private Lending & Conventional Mortgage Advice
Best Deal Ever: Making a Good Deal Great by Negotiating Seller-Held Terms
4 Golden Rules of Real Estate Investing
Syndication 101: How to Present a Deal To Investors
How Much Debt Is Too Much When It Comes To Real Estate?
A Well-Kept Secret for Buying Property With No Money Down (& Growing Your Portfolio Quickly!)
Resources Read, see, and learn more!
Link Real Estate Investment Calculators
Link BiggerPockets Blog
Link Path to Purchase
Link Mortgage Loans
Link Find a Contractor
Link Real Estate Agents
Link Hard Money Lenders
Link Real Estate Listings

Top Contributors

Stephanie P.
Stephanie P.
Washington, DC Mortgage Lender/Broker
5.6
Score
Timothy Hero
Timothy Hero
United States
4.68
Score
Chris Mason
Chris Mason
Oakland, CA
4.54
Score
Remington Lyman
Remington Lyman
Columbus, OH
2.77
Score
Hossam Elaskalani
Hossam Elaskalani
2.47
Score

Private Lending & Conventional Mortgage Advice Trending Discussions

  • Can someone help me answer a question about Lending Home?
    7 Replies
  • How do I spot scam lenders?
    11 Replies
  • Rental Mortgage on LLC
    1 Replies
  • Paying off house within 5 years...
    27 Replies
  • Has anyone dealt with Prem Singh & Sons, Inc.
    7 Replies
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.