Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
BlogsLooking for Investor or Private LenderLooking for an investor or Private lender, any suggestions

Posted about 16 years ago

Looking for an investor or Private lender, any suggestions

I feel like we have exhausted every avenue to find an investor, partner or private lender for our project. Our company owns the land, has begun building and even has some townhomes completed and rented. It seemed as though things were going well until the recession hit. The banks that originally had agreed to the funding backed out leaving us very few options. We are just looking for an honest business partner. Does anyone have any suggestions to help us out?  

Comments (7)

  1. What kind of deal we provide loans fon commercial deals 250K to 500M

    Al Ferguson, over 14 years ago


  2. Land prices have fallen between 50-75% in Texas. Add holding costs and you can begin to see that there may not be enough of a "deal" there to interest a lender.

    Don Konipol, about 16 years ago


  3. Michael, You might be able to find assistance, if you post this in the Forum section. Also, the more details you provide, the more attention you will get.

    James Ward, about 16 years ago


  4. We actually have sold a few lots to some local builders, but would prefer to build ourselves if possible. The subdivision is all owned single family homes valued at 150,000-250,000. The townhomes are appraised at $86,000 x2 (They are duplex townhomes) We are now negotiating with the current investor at $72,000. We will see how that goes. We are getting 800-850 rent from the townhomes we have already built. As you can see it's not a bad deal. The rental market is booming in Las Cruces.

    Michael Test, about 16 years ago


  5. I have a land deal in Houston right now with a similar story. Wells won't allow the borrower to lower their price below the release price to move the lots even with willing buyers. Unfortunately land is very hard to sell right now because construction financing is very hard to get and nobody wants to loan on the land. What is the price of the homes that will be built on the lots? Did you try approaching other small builders to move lots in pieces? I am sure you can fetch a higher lot price if you sell them in small chunks.

    Bryan Hancock, about 16 years ago


  6. We are still negotiating, the original offer was to buy us out at $2500.00 a lot (These are $25,000-$45,000 lots) I would continue to be the contractor/builder for the homes and Property Manager.

    Michael Test, about 16 years ago


  7. Unfortunately cash is king right now and people with money are being pre madonnas if they are willing to do equity-based JV financing. Why do you think the whole RE market is stuck in a rut? The banks have stopped lending money so equity capital has to capitalize the whole transaction. Consequently, money is very scare and thus is pricey. What "fair deal" were you offered that you refused?

    Bryan Hancock, about 16 years ago