What are some of of the best ways to find private or Hard money?

[Nick Troutman]

I have an epic deal at hand, and as they say "when you find the money will come." Well, I'm under contract though I'm still working on figuring out the best options on financing this opportunity, as it has to be a Cash deal with the whole-seller.

 I know there is a link on BP for hard money, though I was wondering if anyone had any recommendations or advice for using hard money.

Thanks,

Nick

[Jay Hinrichs]

OK well thats to much info.. keep in mind you may just create competition for yourself.

when buying auction property and if its auction . bomb or someone like that when they say cash that means CASH
Not a HML.. that is a loan.

so first thing to check on is it truly cash or will they accept a HML..

Once you figure that out.. then you know what direction to go in.

If it is cash then the LLC or entity buying will need to show POF in their name  so unless you have an account with 90k in it your not going to be able to bid.

So at that point if its CASH only and you dont have any way to get it in your account.. then you need a capital partner that will put up the CASH not a loan.. Then you will want to do a JV deal with the capital partner on the back end.. ( my day job LOL)  

If HML is acceptable  then you need to get on it right away and get qualified.

experience will be a factor with HML er  ..  And keep in mind the industry of HML has been infiltrated with fake lenders that are going to tell you what you want to hear try to get 500 to 1000 bucks out of you up front then never fund and you lose the entire deal.

So that all said go to friends and family first and try to raise the cash.  Next go to meet ups these deals are best done belly to belly and meet a local that can do this for you..  

I dont agree with the find the deal and the money will find you.. Lots of heartache in that statement.

Get your money ready set fire .. then go shopping..