Private money lending question for beginners!

[Christine Smith]

Hey all!

Getting ready to buy our first BRRRR. We want to used our saved money for our primary residence purchase (a house hack) but I'd also like to get another multiplex to BRRRR. When looking for private money, is it better to look before you find the property or after so you have the stats prepared?

[Andrea Weule]

Both...I recommend having some money lined up so you have confidence moving forward.  However, just looking at deals (even if you don't get them) gives you something to talk about with potential private money lenders.  I know that's a chicken or egg answer, but it's true.  If you have funds you'll be more confident pursuing properties and if you've looked at some deals, you'll be more confident talking to lenders.  Put in some time and you'll get what you need!

Best of Success!