Updated over 5 years ago on . Most recent reply
How hard is it to get a loan from a private lender?
For newbies that want to get into flipping business, how hard is it to get a fund from a private lender? Do they tend to give a loan to those who already have an experience or they can give to newbies but for higher percentage?
Most Popular Reply
@J Usmonov
A hard money lender would do his due diligence on the deal and offer whatever rate is worth the risk to him. Private money could be from friends and family, or your personal network. For your first time flip it could be best to seek private money from your current network. If friends and family don’t want to lend you money then seek the hard money route but you will not know until you try.
Best of luck