How do I find private investors?

Question

Hello. newbie here, need 30k to finish a project, Is 15% to much to pay?

I have a 90k loan, need 30k to finish and after value is 320k. How to find the funding in my area or national that are legit and reputable.

Derek Brickley · Answer

Hey Berto!

15% isn't crazy for short money like this if that's an annual rate, on $30k it's roughly $375 a month in interest, so the real question is how fast you can finish and get out. Before you take anyone's money, read your current note for a due on encumbrance clause. Most hard money first liens don't allow a second lien without written consent, so ask your current lender first if they'll fund the extra $30k as an additional draw. At $120k total against a $320k ARV you've got plenty of room, and a cash out refi once it's done would pay off both cleanly.

Star Moses · Answer

Hello I can help you with that let’s see what we can do here’s the application you can fill out an by the way my name is Shavon Im a private lender

https://reilcap.com/apply-now/?ref=MosesRP

Agrie Ahmad · Answer

Hello it would be nice to connect with you,send me a connect request so we can have a good conversation primarily to your question and welcome to biggerpocket

How do I find private investors?

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