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Updated about 3 years ago on . Most recent reply

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Bryce Bedford
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Where to find a reputable private lender?

Bryce Bedford
Posted

Recent got a deal under contract, set to net 35-50K in profit (after reno), but doesn't fall within the 70% ARV most hard money lenders are looking for. Where can I find some reputable private lenders to reach out to, to see if I can get this deal funded?

Thanks

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Ned Carey
  • Investor
  • Baltimore, MD
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

@Bryce Bedford true private lenders are your friends family and associates who loan to you because they know and trust you.  Anyone in the lending business is not a 'Private Lender" in my view regardless of what they might call themselves. 

The best way to find private lenders is to talk about what you do. 

Friend "what's new Bryce?"

You  "We I am flipping houses and I just found this great deal. Sadly I don't have enough money to pull it off. "  

Then shut up and wait for them to ask "Well how much would you need?" Plant the  seed and wait for them to ask you.

  • Ned Carey
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