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Updated over 1 year ago,
Where's all the OPM?
I keep hearing podcasts referencing people using OPM (other people's money) to buy real estate. In most of these cases they are referring to private money lenders. I keep hearing people say that they are plenty of people out there with cash that don't necessarily know what to do with it or don't want to spend the time to find a property and manage it etc. Well.....where are these people at?!?! I personally don't know anyone in this position (or at least don't believe I do).
If anyone has any connections to potential private money lenders in the Twin Cities (or someone elsewhere willing to invest here) I would very much appreciate an introduction. Or any tips on where to find these people.
Specifically, I'm looking for a primary residence for myself in the area and I'm looking for someone who would want to take a significant equity position in the property.
Thank you all in advance!