Recommendations on Private / Hard Money Lenders?

Question

Anyone have recommendations for private or hard money lenders for (relatively) new investors.  We have 2 rental properties, looking to expand.  Primarily focused on finding places with good, near-immediate cash flow or with minor rehab, then cash flow.  Looking to approach hard money lenders for the first time and just looking for guidelines on best sources to approach first. Any input appreciated. Thanks!

Sean Blomquist · Answer

@Selena Walsh I would be happy to talk with you about your investing strategy, how we can help and any questions you have.

Feel free to contact me directly and can talk further.

John Woodrich · Answer

@Selena Walsh I forgot to send you his information.  Contact @Sean Blomquist at Pine Financial.  I will send you his email address.

Scott S. · Answer

@Selena Walsh have you been to local REIAs to network? There are a few so check out the area on www.meetup.com or the Facebook-only group: www.twinreia.com. There is a local BP Meetup as well.

Have you tried the Bigger Pockets list of hard money lenders? The MN list is here.

I've not used any HML myself, so am not able to suggest any.

David Barnett · Answer

@Selena Walsh Thank you for this additional information.  Although I'm from Massachusetts, I invest in the Twin Cities.  I prefer to stay within the city limits of the Twin Cities.  I prefer to invest in B+/A areas, and wouldn't feel comfortable being a private money lender for C areas (just my investing criteria).  Best of luck in your search.

Selena Walsh · Answer

@David Barnett  Looking mostly at duplexes, potentially a SFH that need minor rehab in B or C markets. Plan to use for a mix of LTR and STR, will depend on the area/demand.  Solely focused on Minnesota but have our eye on a few different areas, some in the Twin Cities, some in smaller towns which have enough of a draw to try STR (i.e., local vacation areas).  Price point varies based on area. We are planning that our next property will be in a smaller town / local vacation area with price range $100-150k.

David Barnett · Answer

@Selena Walsh Could you please fill in a bit more of what you're looking for?  What areas?  Types of properties?  Price point?

Recommendations on Private / Hard Money Lenders?

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