Looking to build long term relationships with private lenders

Developer · Chicago, IL · Member since 2026 · 4 posts · 3 votes

Hello BP community,

I'm an active real estate investor based in Chicago currently working on value add projects. I'm looking to connect with private lenders open to gap or second-position lending in a capital stack on fix-and-flip and BRRRR projects. Can someone point me in the right direction.

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Aaron ZimmermanBusiness Member
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
7mo
Id recommend going to some local meetups to network with other investors. Invariably, there's going to be private money lenders at some meetups. That said, you'd probably be looking for mostly individuals at this point. Personally, I've done some private lending but only in first lien and will only do first lien. You'll need to pay the lender and a higher interest rate to compensate for the risk. You could also work with a hard money lender that gives 100% of the purchase and rehab.
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- Raymone Crockwell
  OP
  Developer · Chicago, IL · Member since 2026 · 4 posts · 3 votes
  7mo
  Quote from @Aaron Zimmerman:
  
  Id recommend going to some local meetups to network with other investors. Invariably, there's going to be private money lenders at some meetups. That said, you'd probably be looking for mostly individuals at this point. Personally, I've done some private lending but only in first lien and will only do first lien. You'll need to pay the lender and a higher interest rate to compensate for the risk. You could also work with a hard money lender that gives 100% of the purchase and rehab.
  
  0 Reply
- Raymone Crockwell
  OP
  Developer · Chicago, IL · Member since 2026 · 4 posts · 3 votes
  7mo
  Quote from @Aaron Zimmerman:
  
  Id recommend going to some local meetups to network with other investors. Invariably, there's going to be private money lenders at some meetups. That said, you'd probably be looking for mostly individuals at this point. Personally, I've done some private lending but only in first lien and will only do first lien. You'll need to pay the lender and a higher interest rate to compensate for the risk. You could also work with a hard money lender that gives 100% of the purchase and rehab.
  Thanks for the advice.
  1 Reply
Jonathan KlemmBusiness Member
Moderator
Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
7mo
What's up @Raymone Crockwell! I've got a couple a of friends in the chicago area who may be interested, but a lot of private money want to be in 1st position like @Aaron Zimmerman mentioned.
Also, if you have a specific project or potential terms for your private money investors that may good to share.

For sure, some check out some of the local Chicago meetups because it's a great place to find private money lenders. https://www.biggerpockets.com/forums/521-real-estate-events-...
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- Raymone Crockwell
  OP
  Developer · Chicago, IL · Member since 2026 · 4 posts · 3 votes
  7mo
  Quote from @Jonathan Klemm:
  
  What's up @Raymone Crockwell! I've got a couple a of friends in the chicago area who may be interested, but a lot of private money want to be in 1st position like @Aaron Zimmerman mentioned.
  Also, if you have a specific project or potential terms for your private money investors that may good to share.
  
  For sure, some check out some of the local Chicago meetups because it's a great place to find private money lenders. https://www.biggerpockets.com/forums/521-real-estate-events-...
  Appreciate the input, and I will be on the lookout for the next meet up 👍🏽
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