How do I find private money lenders? Are there any here?
I live in Maryland, and I'm looking to purchase a multi-unit (preferably between 2-4 units). I have a couple buildings in mind, but I'll need to raise the capital first. Not sure how to go about doing that. I've heard of private money lenders who lend out money in their IRAs or those who have a chunk of money in savings and want to earn some interest on it by lending it out to others.
We own a construction company, and we'd like to buy a property is distress. So, construction costs will be manageable, and we can oversee the project. We have a couple properties in mind, just don't know how to find private money lenders.
How do you find those people? If you are one of those people, can you let me know? Guidance appreciated. Thank you!
@Nicole Obregon , I would start with family and friends. Let them know what you're doing and/or trying to accomplish and go from there. Continue on down the line with people you know from other organizations/groups that you meet up with (e.g. church, etc.). Just try and spread the word as much as possible, and have your friends tell their friends, all the way down to acquaintances.
You also may want to pick up the book by Matt Faircloth (Raising Private Capital). Good luck!