what are the different ways to find private lenders and use OPM?

[Dawson Brewer]

I'm a realtor based out of Austin, TX and I'm looking to buy my second home this year. I came across this house that's at a very attractive price point due to it needing a light rehab. The only catch is that they're asking for cash. I'm scrambling to find private lenders right now which got me thinking, what are different ways to find private lenders and use opm? 

Aside from asking friend's and family and going to networking events.

[Lydia R.]

Hi Dawson,

Is this an off market deal or a listed deal? If it's listed, I'm sure the seller would prefer cash but with the current market conditions we have right now (I also live in Austin) they should be happy to get an offer in the first place. 

True private money is difficult to secure outside of friends and family when you have little to no experience. Would you let a first year medical student perform heart surgery on a loved one? Probably not right? My advice would be to explore hard money instead. Hard money lenders can move quickly and close within 14 days. That might be the right solution for this particular property and once you've got a few successful deals under your belt, then you start scheduling private money meetings.