Raising Money / How to Structure

[Collin Luckett]

I have a couple houses I'd like to put under contract as fix and flips and would like to you private money lenders to help fund. I know when you make an offer you typically specify how you plan on funding the deal. I'm currently going through the process of getting a HELOC and feel confident we'd be able to fund a purchase using that but using PML has ultimately been a goal of mine and would like to incorporate it into one of these purchases if possible.

My question is, if I do want to make an offer funded with a HELOC, can I later bring in investors or even a hard money lender before the purchase? Is there that kind of flexibility in a purchase agreement? Also, I'm pretty new to this but I'm assuming you'd have to have an LLC in place to accept hard money or money from private lenders?

Sorry if this has been covered before, we are located in Minnesota if that matters.