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Updated almost 8 years ago on . Most recent reply

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Reginald Lawal
  • Investor
  • Ewing, NJ
3
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20
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Do you look for private lending or does private money find you?

Reginald Lawal
  • Investor
  • Ewing, NJ
Posted

This is an interesting topic as most of the top tier real estate investors that I know purchased the bulk of their portfolio using private money while other investors use banks and other creative financing.  Which brings me to this question, how do most of the private money lenders out there find which deal they choose to lend on?...and how many deals are you comfortable funding at a time?

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Alex Deacon
  • Investor
  • Pittsburgh, PA
1,024
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Alex Deacon
  • Investor
  • Pittsburgh, PA
Replied

@Reginald Lawal I buy 4-5 homes a month and I use probably 20 different hard money lenders. They can vary from 10% with zero points and a hand shake up to 15% with 5 points and they want your blood type and your first born. So my answer is there is no answer. Start working your network and get as many hard money lenders interested in you as possible. Shop around etc...  You wont have much leverage until you have a track record then the money will find you eventually with little effort from your end.

Good Luck

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