Need feedback on finding a true private lender!

[Shaun Anderson]

I am becoming very frustrated. I am a Canadian, looking to buy my first property. I do not consider myself a newbie however as I have been learning and researching for some time. I had decided long ago to go the private money route, for many obvious reasons. I have found quite a few, messaged back and forth with a ton of them and have become very frustrated. I have been already scammed once (when I was starting out and very green) and swore I would never again pay upfront fees. Here is my question, in anyones experience is there legit private lenders that charge legit fees or should I run the other way anytime I see this? I have come across a few sites that were supposedly credible as far as having legit lenders yet, most all I talk with want some sort of upfront fee in the end!

Would love some constructive feedback on this!! I have properties I can offer on now and am only stopped by this obstacle!!

Thank you in advance!

[David Krulac]

@Shaun Anderson 

@Tom S. 

is right, just settled an investor mortgage with a bank at 4% interest, 80% LTV fixed for 30 years. That's hard to beat with private lending. Just sold another property to a rehabber with private lending, he was paying 8% with a one year balloon. See the difference?

The first place to look for private money is people who know and love you.  AS I talked about in Bigger Pockets Podcast #82, I started with no money and the first 11 deals were all essentially 100% financed.  My parents lent me $2,500 for the first one to get me going.

Take a look at @Brandon Turner 

's new book which is all about financing on the down low.