Private mortgage lending questions

[William Tews]

Hello all my name is Ryan and I have a few questions that I've been unable to research answers on. I have found a foreclosure that I have fallen in love with. As with many foreclosure this property requires repairs that prevent it from going usda or FHA. Im looking to find a list of private mortgage investors. The house is currently listed for 66k and would probably go for a bit less. The potential for this property is great. I'm needing a private mortgage investor to help me get the property and for me to turn around make any and all repairs needed for it to qualify for a conventional loan. The trouble is I dont know where to begin. Any help or suggestions would be greatly appreciated.

[Jon Holdman]

Private lenders are people you know. So talk to everyone you know and everyone you meet about what you're doing.

Lenders who advertise are almost always hard money lenders. If you want to do fix and flips, that might work. But if you want to live in it, it won't. Most don't allow owner occupants. If that's your plan look into FHA 203k rehab loans.