Finding Private Money...

[Scott R.]

So I'm completely at a stand still in the investing world and have been for some time.. Keep finding deals and unable to obtain financing. Ive researched hours upon hours for such loan sources, one thing I keep coming to are "pay sites" where you pay for information, such as findthatmoney.com or lenderlab.com. Has anyone actually used these sites? they just seem too good to be true, although I'd love to pay there fees (range around $500 it seems) if I can get an actual deal completed! any tips/advice/experience with these kind of web sites?
Thanks! -Scott :cool:

[Mark Yuschak]

Scott, as an absolute last resort you could consider getting an unsecured loan from a local credit union. I had to do that for my very first flip. I was about $8,000 short and needed the unsecured loan to get the rehab complete. I paid it off in 6 weeks and it only cost me $150 in interest. It's not the best route, but it worked!

I wouldn't even bother trying to get an unsecured loan from a bank - you'll just be wasting your time. Credit unions are the way to go.