How do you find private money lenders?

Question

I am working on a great multifamily deal from a desperate seller and looking for one or multiple private money lenders. If one, It could be an equity share . I just invested all my money in other properties and can't get cash out fast enough to get this deal.

Tanner Connelly · Answer

Ask a title rep for a recommendation!

Joselyne Muszynski · Answer

Thank you all for your help! I have found a couple private money lenders

Dave Spector · Answer

@Joselyne Muszynski: Check out https://aaplonline.com/member-... This is a good place to start ;-)

Zach Edelman · Answer

Hey Joselyne, I've been in/around the lending space for over a year now and can def help you out. Reach out to me via message.

Chris Clasby · Answer

Hi Joselyne, it's about 90% networking, and usually the best ones will have plenty of referral business from Brokers or past clients that they don't need to do much advertising. Typically though any PML is going to want any partner in the deal to have skin in the game, otherwise they're essentially a buyer/flipper and that's a different value proposition. Does that make sense? I'd say start with some of your local network to the extent that you can as you never know who might know someone looking for a partner on a deal. However, if you can't put up a significant portion of money, then it might end up where you're brokering a deal for a buyer but hey, that can work too!

Camile Case · Answer

How much equity is in the deal?

David Simard · Answer

Hey Joselyne ... can you share the contact info for the private lenders that you found?  It'd be helpful to the other biggerpocket members who are struggling to find private sources also..    dave

Sophie Sternbergh · Answer

Hello @Jaleesa Jackson! Yes, I work with Conventus.

Eliott Elias · Answer

Word of mouth. Talk to local investors and ask who they use. Some are reluctant to share, those are the ones you need to get in contact with

Jaleesa Jackson · Answer

@Sophie Sternbergh hi Sophie, do you lend?

How do you find private money lenders?

Most Popular Reply