Little or no money down

[Max Bergstrom]

Does anyone know how to find private money lenders who require little or no money down? It's probably a really stupid question....but I'm having a really hard time funding my first few deals. I am currently whole sailing to build cash flow....but there are a couple deals I just can't pass up and I'm looking for private money!

[Jeff Robert]

Check out your local REI groups (search meetup.com for example), I'm sure you'll be able to network with a few lenders in a city the size of St Paul.

[Ned Carey]

Private lenders are friends family and associates that lend to you because they know and trust you. 

 To find them talk about what you do to everyone. Everyone asks "Whats new" that is your invitation to tell them. Many people have seen the Flipping TV shows and are interested to hear about real estate. 

When talking to them mention the great deal that got away because you just didn't have enough money. At some point someone will ask "Well How much money do you need?"

[George Krajacic]

Hi Max,

To find private money with no down payment requirement one would have to have an extensive experience or willing family member. Since you never flipped a house you would be putting borrowed money at greater risk than necessary, consequently I would suggest different path. From your post I know that you never flipped a house, but you have an eye for a good deal since you have been wholesaling properties to flippers. Assuming that “the deals you can’t pass up” are exceptional it should not be hard to make an arrangement with experienced flipper to share some profits and mentor you while you are helping him to refurbish the property. To make a proposal more attractive to a flipper, offer not to take your wholesale fee up front but to take it upon a sale. This way you have some skin in a game and since you brought exceptional deal you deserve share of the profits. By the time you finish second deal you will gain enough experience and be in position to approach you friends or family members with confidence.

Good luck,

George

[Adrien C.]

If the deal visas good as you think it is, JV with a local investor.

[Tyisha G.]

@Max Bergstrom That was definitely not a stupid question and you have garnered some good responses that will also help others. I hope that they have been helpful to you as well. Best to you.