Updated over 5 years ago on . Most recent reply
Searching for Hard Money/Private Lenders
I'm a fairly new (2 years) investor with a few flips under my belt. Up until this point I've only been able to focus on one deal at a time but have done very well with ROI on each deal and have built up a decent bankroll. However, my focus now is on scaling faster and getting to the point where I can work on multiple properties at a time. I've gotten much better at finding great deals as well and feel like I'm leaving a lot of money on the table because of cash constraints. I'm currently looking for options to expand my buying power and in turn scale my business. I live in Richmond, VA and am currently looking for deals all over the state, but I have and will in the future be seeking properties out of state as well.
My business model is primarily raw land, although I've sold a couple houses. Most of the hard money lenders I've looked into mainly finance rehabs and such for much larger loan amounts than what I'm looking for. My question is, "Are there hard money or private lenders who will finance raw land acquisitions and, if so, is it typical to borrow $25-$50K, or does it need to be much higher?" Any lenders feel free to reach out to me, I'd love to speak with you. Thanks!
Most Popular Reply
@Teren Cooley hi I try to go to most of the local REI meet ups. There are several different ones. I have gained valuable knowledge & contacts/friends from local meet ups. The saying is true ‘your net worth is your network'. Go on meet-ups app and search REI. Most cost $ but some are free!