Finding Private Money Lenders in the Local Area

[Darius Inge]

I purchased a short term rental (STR) December 2021 and it is doing great. I am ready to purchase another but won't have the funds for another 6+ months.

I have reached out to family but even though they see the money I am making they don't want to invest. How are you all finding private money lenders (PMLs) in your area that will allow payment terms of longer than a year? I am not rehabbing properties. 

The terms I want to offer are 5 years 10% interest. 

I am located in the Los Angeles area.

[Will Fraser]

Great tips from Brad above!  

In addition to putting together a pitch deck you might consider how the debt will be collateralized and then focus on what this offers to the lender.  Deploying capital that is backed by a real asset at 10% interest for 5 years is nothing to scoff at, so if you get your prezi buttoned up and are clear about how the debt it structured you should have some opportunities to scale!