Looking for outside lenders, have you been able to do this?

3 Replies

I have been wanting to put together investors who want to earn 10% on their money an have ... yes, BIGGER POCKETS! They fund the deals to say 80/90% ... I put in the remaining, and then get a portion of equity for putting together the deals.  Have you done this?  How have you structured it?  Where did you find them (thinking doctors, lawyers, sales people, etc) ... how many people would you put on one note?

Such as ... buying house for $50k ... 4 people at $10k each, on first mortgage, I put in other $10k ... receive additional 10-20% equity stake for putting deal together.... 

You need to be careful on how you solicit for investors.  I am not 100% wht the correct way to do it is but I dont know of any lenders who will offer money knowing there are several other money lenders for the same project.  If something were to go wrong, others would know they are not secure.  

Pooling other investors money into one " account " so to speak sounds like your setting up a syndicate.  This is not my area of expertise so if others chime in great or search BP for this. Good luck

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Thanks @Nick Keesee and @Curt Davis  ... definitely want it to be scaleable. 

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