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Updated about 3 years ago, 11/17/2021
Is there bridge financing on vacant commercial properties?
I am currently doing the BRRRR method on commercial real estate. I have been raising funds for each deal paying my private investors 10%.
I got great traction on my lending pool for the first 10 or so investors. Now that I am out of my close network, I am getting a lot of interest when I post a deal but not much follow up after that. So I need to sharpen my syndication skills (I am essentially a rookie).
Realizing that more funds are going to be needed on bigger deals I wanted know if there are many non bank lenders out there that do commercial bridge financing on vacant or nearly vacant properties and what points and rates might look like.
I have tried to get traditional commercial bank financing with some of my small lenders that take the deal after its stabilized, but it seems to be an uphill struggle.