I’ve been in RE for 25 years. Started rehab to landlord 16 months ago. Working on sixth rental.
Done all of them with HM. Looking to get into using private or self directed IRA. I have a great track record and credit.
What is best way to find private money lenders or IRA self directed lenders? I have seen websites, but the ones I have found want you to join their website for fees before seeing anything. I don't mind paying a fee once I secure the lending.
I do not have personal experience with using hard money, but I know three HM lenders thanks to my local real estate investing group. Maybe start there, where you can have an actual conversation with a person, potentially talk to some of their current clients, and generally vet each other before large sums of money change hands. Good luck!
IS your IRA a self directed? If so I can help. TAG me and I will get more information togehter on how to do it.
I cant speak to purchasing this information, but I have found other private lenders through networking, by attending REIA's and masterminds and other networking groups. Bigger pockets likely has a large audience of private real estate lenders. Perhaps you could use the marketplace to post an add.
Attending self-directed retirement account conferences may be a good start.
Talk to your family and friends. I'd be surprised if some of them don't have money that's not getting as good of a return as you can get them. Ask this question: What type of return are you currently getting? Then follow up with: Would you be ok if I doubled that?
If they are invested in stocks bonds or mutual funds are are accustomed to 4-12%...and you double their return...you're likely still leaving PLENTY of return for yourself.