Looking for REI / Hard Money Mentor in Cincinnati

[Account Closed]

I am looking for a mentor to help my partner and I guide us through real estate investment  acquisitions and hard money lending borrowers. I am encountering roadblocks when it comes to our credit score (mine is good / his is crap), experience with flipping (I have no experience / he has 22 years of flipping experience) and the amount of cash liquidity that some of the hard money lenders want is still on the high end especially starting out. I know that a lot of hard money lenders will fund 85%-90% of purchase price with 100% rehab cost on draws. With all that said after closing costs, origination / underwriting fees, etc. if seem very difficult to get things moving along. I am open to detailed approaches to navigate funding. 

A little back story on our company is that we are a real estate investment company and we are currently working with several VC's to secure funding. Due to our company being newer formed back in August of 2023 we have no history with any projects. My business partner has completed many projects under previous companies he formed until he sold them a while back. I know many are going to ask but the sale of his previous companies are still tied up in the sale agreement for him to invest in the company he sold to. We have a handler that is speaking to the 5 prospective VC's, but they most definitely are going to want to see projects under the new company which at this point we have more or less started. 

Our first goal is to acquire funding so we can start our first project. 

[Chris Seveney]

Quote from @Account Closed:

I am looking for a mentor to help my partner and I guide us through real estate investment  acquisitions and hard money lending borrowers. I am encountering roadblocks when it comes to our credit score (mine is good / his is crap), experience with flipping (I have no experience / he has 22 years of flipping experience) and the amount of cash liquidity that some of the hard money lenders want is still on the high end especially starting out. I know that a lot of hard money lenders will fund 85%-90% of purchase price with 100% rehab cost on draws. With all that said after closing costs, origination / underwriting fees, etc. if seem very difficult to get things moving along. I am open to detailed approaches to navigate funding. 

A little back story on our company is that we are a real estate investment company and we are currently working with several VC's to secure funding. Due to our company being newer formed back in August of 2023 we have no history with any projects. My business partner has completed many projects under previous companies he formed until he sold them a while back. I know many are going to ask but the sale of his previous companies are still tied up in the sale agreement for him to invest in the company he sold to. We have a handler that is speaking to the 5 prospective VC's, but they most definitely are going to want to see projects under the new company which at this point we have more or less started. 

Our first goal is to acquire funding so we can start our first project. 

 Now is challenging times to find funding in real estate. Your best bet may be to find an individual to partner with who has the cash. VC firms typically do not do real estate, maybe a family office but that relationship takes a good amount of time to build and as you mentioned they will want to see experience.

This is a hard question, but I ask them - what are you bringing to the table? Your partner has 22 years experience and you have none. In 22 years he has no money? You mention he sold them and tied up? Have you verified that? seems sketchy.  Are you bringing money to the table? Just trying to figure out what is your strategy and part of forming a company is having right people doing the right things. Trying to figure it out with this new company.