Help! How to get a private investor or hard money lender?

[Brittney Pathkiller]

Hi! My name is Brittney, my husband and I are in the process of starting our own fix and flip investment but unsure how to proceed and get our first investor, preferable a private money lender because we dont have the capital, or credit to get a loan and you have to wait at least 6 months after opening an LLC and getting a business line of credit in order to apply for a loan.

[Mike Klarman]

Brit, you do not have to wait 6 months, fyi.  I've closed loans with entities way less than 6 months old.

You have a long road ahead of you of you can't bring the capital or credit. Because let's say you meet someone with 500k tomorrow and they have 800 credit. What can you bring that they can't? You'd have to do all the legwork in sourcing the opportunity. Setting up networks of agents, contractors, and wholesalers in various markets. You now have created a net to capture the inventory in a market and get it analyzed and then try to pick out the gems. I set up networks and I can tell you it ain't easy. It's hard to find reliable, honest people who are also good at what they do. They aren't just out there, you gotta find them. Agents are a dime a dozen, and they range from useless to shysters to being great at sourcing projects. It's a spectrum. My best agent across all my networks is a guy in Pitt. Just excellent. He sources properties for me from off market, auctions, MLS if it works, direct from seller, good wholesale deals. He meets appraisers, GCs, investors, anytime at any house. He puts together detailed comp packages anytime he sources a house. Last 6 months what has sold, for how much, how long did it take, an interactive map showing all comps and subject house. I can't find agents to go over and above like that. Most just throw you on some giant mailer list and send you anything from pure sh!t to something decent and you have to figure it all out on your own. How does that help? My guy goes and finds things and brings them right back to my group. Invaluable and he's closed 20+ deals with ppl in my group, and sold at least 7 finished products so it's paid off for him in long run.