private investor

4 Replies

I'm looking to start my own first flip and hoping to connect with a private investor . 

I come from property management / project management background. I'm currently in MI and see deals all the time for a quick flip and fast ROI.

Please feel free to contact me for any questions or if anyone can help directing me to find a private  investor in the metro detroit area .

You should consider talking to family or close friends with money. It will be very hard to find private money if you have not done a deal, not impossible, but very hard. People get private money when they build trust and a strong relationship with their private money lender. It will also be hard if you don't show a history of previous deals. Friends and family on the other hand may throw money your way if there is a good foundation of trust and you have a solid business plan. Hard money, regular bank loans, and your own money are also very good options but not without their own difficulties. If you do get money be very careful when choosing your first deal. A lot deals that look promising can easily turn to disaster if you don't get the numbers right and loosing someone else's money in my opinion is way worse than losing my own. Good luck!

Well, Kristen - you are straight forward indeed. Though, while that's a good way to be around 25 year old college grad stallions, in this space you might benefit from a little finesse...just sayin'  :)

I like your style, though!

@Kristen Zahr some people who have little to no experience flipping a property can benefit from using a hard money lender. Rates are obviously higher than a PML, but an experienced HML can help in the sense that they will not lend on a bad deal. Buying right is where it all starts. If you end up buying a bad deal from not knowing what a good deal looks like, it doesn't matter how much money you dump into a project you will still loose money.

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