Interested in a Private Money

[Andrew Carson]

Hey everyone, interested in some advice and connections.

Started out my real estate investing journey being a wholesaler for just about two years and built a strong funnel of continuous leads. I then recently moved into doing flips, JVing with other investors, and I’m ready to start flipping independently since I have gotten experience.

I’m a big fan of the more local the better, given, they will know the smaller markets as well as the big in my city; however, I am open to lending opportunities farther out. 

Thanks everyone, let’s start investing! 

[Jeff S.]

Your title and post are a bit unclear, @Andrew Carson. I assume you want to borrow private money to flip houses and not lend on them (?). It looks like you’ve learned the perils of partnering and wisely understand the benefits of investing as locally as possible. Good for you. It’s fortunate that you’re in a border city. Stick to Iowa and possibly eastern Nebraska. Not only are IA and NE local, but you’ll find it easier to borrow money.

Iowa only requires a license to lend money on owner-occupied properties, so this doesn’t apply if you’re flipping. Nebraska has no licensing restrictions on business-purpose real estate loans, like flips. Both ND and SD are in the handful of states, like CA, that require a license for all RE loans. Since the population in these states is relatively small, many lenders avoid them.

Face-to-face at local real estate clubs, found through Meetup, are your best bet.