Best resources for finding hard money partners

[Austin V.]

I am an experienced investor who has 75ish transactions going at a time. Up to this point, I have lived on hard money loans from friends and family and my own capital. I average 5M+- borrowed at any one time for these projects. Recently, I have had a significant upswing in demand in my market(I build and flip homes outside the metros in AZ) and I no longer can get by on just the same sources of cash I’ve used over the last few years. The trouble is that many of the same lenders I have used over the years are all maxed, I have even made calls to more "emotionally expensive" sources (EX. the types that call you to let you know that they have concerns about shingle color on the house they lent on and think it should be changed, two to three times a month) and even most of those are tapped. 

I know that this is more a local problem with the big growth my building area is going through, mainly because of the smaller sizes of the cities and towns, in which I operate. I have found that fewer big-city funds are aware of, or want to lend and be competitive in my markets due to the complexity of lending and doing inspections at a distance. For the last six months, I’ve been dabbling in trying to find a long-term debt partner. I seem to work on it for a few hours and then find a band-aid to fix the short term and get pulled back into the business. 

I recently had a funder who contracted cancer and who has decided to shut off the tap. I obviously understand that he wants to be careful with his money given his health concerns but it has put me in a bit of a bind as he was due to fund draws on seven projects for which he holds the first lien(several of which are presold). Does anyone know of any groups or an online site that would be a good place to present these deals and find a longer-term partner? I have traditionally offered good security at a 75% LTV and 15% interest with no points but at this point, I am starting to get more flexible. I have about 1M in equity in underfunded deals and probably sitting on close to 2M in unfunded deals overall. It's starting to hold up progress on the project side. Thanks in Advance!

[Tim Johnson]

Sounds like you have plenty of experience, you should be able to find a private money lender no problem. I use a great company that always closes.  If you want a referral let me know