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Updated over 13 years ago,
Private Lenders vs Funding partners in PA
I have read tons of forums and WOW. SEC guidelines all over the place.
So my question is this as a new investor am I able to try and find "funding partners" people to put up the money while I find the deal, get the repairs done, and get the property sold for a split of the profit equal share???
I have spent the last week just trying to find PMLS and HMLS.
Or am I better hiring a loan broker to go out and get me funds.
I am tired of walking past deals for such a trivial problem as not having money. LOL.
I am willing to do whatever it takes to start making the deals. I am not afraid of work but spending hundreds of hours reading and taking courses just doesn't seem to be the answer. I am more hands on.
So the summary is can or should I look for Private Money lenders at a % per 1 year or should I look for Partners to fund and split the profit or should I just hire a Broker and pay their percentage? In the long run even if a broker wants 5% to find me a loan at 10-12 per annum it is cheaper than a HML with 4-5 points and 16% RIGHT????
Any help is greatly appreciated
Brian D
Shurlock Homes LLC