Newbie Investor Lending Question

[Jordi Valado]

Hello everyone, I am Jordi a new investor to the real estate game. I am looking to do buy and holds in the midwest, this would be outside of my home state NJ. I have heard many investors speak about using Other Peoples Money (OPM). I understand this comes from a Private Money Lender (PML) or a Hard Money Lender (HML). As a newbie investor my approach to this is to connect with PMLs via facebook groups, REI meetups, BP forums, and asking family and friends. How would a newbie investor like me connect with PMLs on using their money to invest in Real Estate, even though I have no prior experience? I was thinking of making some sort of financial report that outlines costs and their potential return on the investment. This would show I am serious and have some structure or timeline for a PML to have the confidence to trust me with their money. A PML would help me get the down payment for a property, then use a HML to cover the rehab portion. This is depending on rates and structure of the deal. Additional question, would it be smarter for a newbie investor to use a PML or HML?