Private Money Lenders For Buy & Holders (Cleveland Ohio Based)

[Sawyer Dina]

Hey BP Community,

I am just getting started in the RE investing world and my current & prospective strategy is to buy & hold properties for cash flow. I have found several private lenders who specialize in short-term (fix & flip) loans but have struggled to find private lenders who do longer term loans for those who like to buy & hold. Any suggestions here?

Thanks,

Sawyer

[Don Konipol]

Private lenders/hard money lenders charge higher interest with shorter terms than institutional lender. The result is that unless a very large down payment is made, or the property is somehow purchased for significantly below REAL value, there will be a negative cash flow.  Private lenders know that a negative cash flow situation is not sustainable long or even intermediate term.