As a new real estate investor who's ready to take the plunge in fix and flipping, I've found that private/hard money lending would be the way to go to get started.
To everyone who has had to negotiate terms with a private or hard money lender, what was your experience like and what did you have to show for them to agree to lend to you? How reasonable were they with interest rates, points, and the length of the loan? Did they require you to have a steady income or could you qualify while being self-employed. Also, was it your corporation/LLC that borrowed the money, or did they make you personally guarantee the loan amount?
Once you find a private lender you can negotiate the terms that works for you. I would say 6% or more. One of my private lenders I split the profits of the deal. Neither of my private lenders require me to have a steady income, or charge me any points. Using a private lender it is all about the personal relationship.