How to obtain private money?

4 Replies

Hey guys so I'm a newbie and trying to learn as much as possible and trying to get my ducks in a row. 

So i want to start investing ASAP, Financially I'm not there, but i think i can pull it by doing creative financing, I believe i have someone that can lend me the money. How can this transactions happen? i don't want the IRS to flag me and try to charge me taxes on borrowed money. My credit union will give me a pre-approval but want to see the money sitting in my bank account. 

Any ideas? 

Thank you like always and really grateful for your feedback 

David 

@Sean Carroll Well I think the best option for me is to either flip or BRRRR, But more on the flip side since i want to get cash more rapidly and increase my piggy bank and kinda go more on my own after that. The person that would lend me money, i don't believe will be much interested in taking ownership or getting to involve in the projects.