Real Estate Agent · Port Saint Lucie, FL · Member since 2018 · 12 posts · 3 votes
Hey Everyone, I'm new to investing. My partner and I have completed a few projects so far. Our biggest challenge is finding funding for Buy & Holds or Fix & Flips. We've worked with a hard money lender for a few deals but with a minimum loan amount of $75k we've had to pass on few options. Any suggestions or private lenders out there? Thanks.
@Khadijah Oliver the lower property values are always a challenge. I would certainly recommend posting in a specific state try posting in that state forum. Bigger Pockets has some great state forums and usually there are good locals that monitor those. Also, try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. But post locally for this. That’s the best bet.
@Khadijah Oliver the lower property values are always a challenge. I would certainly recommend posting in a specific state try posting in that state forum. Bigger Pockets has some great state forums and usually there are good locals that monitor those. Also, try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. But post locally for this. That’s the best bet.
Hey @Khadijah Oliver, what are you looking for from a lender? Better leverage? Most types of lenders have that minimum loan amount. Some do 50K, but what are you looking to get from a private lender?
Hey Everyone, I'm new to investing. My partner and I have completed a few projects so far. Our biggest challenge is finding funding for Buy & Holds or Fix & Flips. We've worked with a hard money lender for a few deals but with a minimum loan amount of $75k we've had to pass on few options. Any suggestions or private lenders out there? Thanks.
Khadijah, what price point are you looking for? And are they in Florida? I may have someone that can assist you. Shoot me an email(in my signature) and we can set up a time to talk about your needs.
Hi guys, thanks for the feedback. I decided to try a smaller local private lender. I'm working on a deal right now. Hopefully it goes well. @Ryan Herting, it was a struggle to find someone who would lend as low as 50K and that is the primary feature I was looking for.