Personal Loan Options with Individuals

[Tom H.]

Does anyone have any sources for personal loans from private individuals, like an angel investor, but not for business.

[Scott Hollister]

@Tom H.

Are you asking for money or looking for creative ways to get money? 

If its the second,

• If its a private loan, then the lender must have trust with the borrower, there is really no good recourse unless that person files a lien on the property, assuming youre borrowing for a property. 
• I utilized a HELOC at first, partnering it with Hard Money, to create more capital with flipping and BRRRR.
• Then once I built a track record, we moved to private money, secured in first position. There are benefits to both private and hard money lenders.  
• Another good source of capital is a Business Line of Credit. These seem to be getting easier these days, around here the LLC has to be opened/seasoned for a year, and it's stated income. They don't ask for tax returns or income statements.
• With those above, partnered with some other leverage, BRRRR strategy, you can do deals to infinity.

Best of luck!