What should I expect from a Private Lending Offer?

[Chad Jarrah]

Hello! I've been flipping for ~10 years now (just very slowly - 1-2 per year) and have done well on each one. I've taken the profits and invested them in 4 rentals (and a personal res) over the course of that time. The only problem is it's been a very slow process. I didn't mind taking my time before as I had been learning along the way and had my priorities elsewhere (other work). At this point I've worked out the kinks - know my market, have my crews set, know my costs and potential profits for my area. I'm at a point now where I am seeking outside funds to help speed up the process (I have lines of credit available but have reached a point where my debt to income allows no more lines on my rentals equity)

My questions are:

- When seeking outside funds from private lenders, what should I expect as far as conditions? Percentage of the profit or percentage rate of the borrowed money? Or both?

- Any recommendations on where to approach willing private lenders? How to approach them - with a breakdown of my past flips?

I want to give myself the best situation possible so I can manage more flips and turn the profits into rentals for myself and would love any opinions on the subject. Thanks in advance for any and all help!