Using Private money to fund renovations?

[Mateo Way]

My wife and I closed on a gorgeous rural property in the East Hudson River Valley area of Upstate NY in May.

We are settling in and ready to take on the renovation process.

We took months to find a property that would do well as a live and flip or a buy and hold property that could be used as a luxury STR OR MTR.

The home sits on 26 acres and has gorgeous country views (pond and creek on the property as well). It was purchased at 345k but was appraised at 410K. Our research shows the potential ARV of $750-$850 (potentially higher if we add a pool). Renovation estimates came to roughly $150-$175 leaving an estimated $230k- $355+k worth of sweat equity.

We arent sure which route to take. We were initially hoping to find a private lender for the deal but are considering hard money as well. Does anyone have insights as to what may be the best route to take? Any private money lenders looking to invest into such a project? 

I appreciate your time and energy.

[Ethan Gidcumb]

Hey Mateo! One hurdle you might face with Private money will be if they allow the owner of the property, they are lending on, to occupy the property. Just as Samantha mentioned, I think finding a local company to work with would be a great option since they will be familiar with the local laws and may be able to give you referrals for other parts of the flip.