Hard Money Lenders for BRRRR Stradegy
As a new investor, I like others am looking for hard money lenders. I am finding deals but after one of 2, the 20% down will be tough. I have a great w-2 job and credit. Just looking for ways to get going and scale. Any advice is appreciated.
Most Popular Reply
Hey @Chad Blankenship ,
Saving up for that 20% can definitely be a daunting task. I was in a similar position as you (great job, credit, hustle, knowledge, but limited capital), and realized the best thing I can do was network and try and find the right partner(s). It worked for me and I ended up finding 2 equity partners who funded 80% of the DP and rehab costs for my deal.
I would recommend that same strategy or something similar. Definitely recommend reading Raising Private Capital if you have not done so yet. It will give you all the info you need. There are also a bunch of blog posts here on BP around finding partners.
Try attending meetups, reaching out to specific investors in your market or asking people in your sphere of influence if they'd be interested in real estate partnership opportunities!
If you have more questions feel free to reach out and connect with me!