Private Money lender

[Cory Wright]

Hey,

I have put offers and keep getting beat out by cash offers. Does anyone know where i can find private money lenders in the Chicago area? 

[Dhru Das]

@Cory Wright I agree with @Kevin Griffin...do your due diligence before partnering with any private money lenders. Get referrals, talk to people, go to REI meetings...i have done deal with so-called "no money down" investors and ended up losing money. I know few guys, their first deal with no money down went so bad, they still couldn't sell or get their money back. And these no money down investors ask new investors to use credit cards to fund their deals and now they are down with over 50k in credit card debts....so yes, make sure you get referrals before saying yes to any private lenders, or investors who say they know everything.