Finding private lenders

[Nico Salgado]

Hi everyone. I’m putting together a big deal and I’m curious about how to find private money. I need 35% of a large down payment in order to get a hard money loan. The project is to build an apartment building. 

I’ll be putting in some of my own money but the down payment for the project will require much more than what I have. 

Any ideas on where and to who I can pitch the idea?

Much appreciated!

[William Tidd]

@Antonio Salgado my first question is do you have an accepted offer yet on the property and have you submitted an LOI? If you don't have an accepted offer then you don't have a deal to fund anyway. I would imagine if the deal is strong enough somone will be interested in providing the needed capital. If you don't have a track record of management it may be difficult to pull together but I would not say impossible. I would suggest reaching out to other people in your area who own apartments. Just cold call them and ask if they have a minute to talk about their experience with apartment investing, you should be able to get some quick tips from them. At the end of the conversation ask if they are looking for any deals in particular to be a part of. Some will say not currently other may say yes, what do you have or call me if you have one. Follow up after the call with a thank you card or email. Follow up again and see if you can meet them for half hour to review what they are looking for, or ask them more specific questions about what they do. Remember you are providing value to them by bringing the deal!