Great to Be Here - Private Funds

[Joshua Haeder]

Great to be on this site! We have been in motel and single family rentals for about ten years in South Dakota. I've done one fix and flip on my own that went great. The major challange we've encountered is the amount of time it takes to get traditional financing. We have great credit, great financial statements and a rock solid record in real estate. I am looking to get into the fix and flip market, initially in Sioux Falls, SD. Where my expertise lacks is in fully understanding quality sources to learn about private or partner lending or non-traditional financing. I would guess this topic has been discussed on here in the past, but want to kick up the conversation. 

We always have 25 percent to put in on single family dwellings, but want to see if there are better options than traditional financing? Wanted to get your thoughts on this topic! Any trustworthy sources anyone could point me too would be appreciated. 

[Branden Pfaff]

Fellow Sioux Falls investor here. You could tap into a HELOC if you have existing equity laying around. Seller financing is always a good option as well - although a little tougher to find. Private money then go with a BRRRR method..

The possibilities are endless! 😊