Hard and private money on BP?

[Chris Gormley]

Hey all,

I’m currently trying to close on my 5th flip. On my first 2 flips, I’ve used my own down payment money combined with leveraging hard money for the rest. The next three has been private money bringing the down payments on the HM as most of them are buddies of mine.

I’m currently doing a challenge to raise money for bigger amounts of private capital but was also wondering if there’s an opportunity for Hardmoney or private lending on bigger pockets through individuals or a simpler process than traditional Hard Money companies.

Thanks a lot!

Chris

[Scott W.]

You could look for a private money broker who could help with finding different hard money lenders depending on the property and need.   Depending on the loan the hard money process should be much simpler than your traditional financing option and you could also look at a getting a line of credit that might help before you have the property under contract.

If you want to raise a lot money and capital then you start getting into syndication and making sure you have the right legal team advice and then you will also need to be careful to only "solicit" money from sophisticated or accredited investors.