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Updated about 10 years ago,
Private lender...
I hope someone can point me in the right direction to achieve this.
I am involved in the "Cash Buyers" area on this site... I keep seeing commercial lenders listed. Does anyone have experience with a residential Private lender? I keep seeing lots of what seems to be scam artists asking for upfront fees. I understand there are fees needed to be paid in order to get the deal done, but when none of these Private Lenders has any feed back I can verify, it seems like sending them any money would just be foolish. I have a deal under contract and I need acquisition & Re-hab funds of about $80K.
I wanted to just wholesale it with transactional funding, but so far I don't seem to have any cash buyers coming forward. Therefore i feel i need to do the fix & flip play in order to make this a winner. I don't have the funds currently available myself. I need a private lender I can trust or an angel investor, a JV partner or ??? I am open to ideas.
Please be creative.