Hard Money vs Private Lending

[Sam Mathew]

Hello Bigger Pockets Members,

This has proven quite tricky for me.  Please let me know if you have any advice:

I live in Florida but buy homes out of state, mainly Michigan.  I cannot use conventional anymore as I have nearly maxed out at 10 conventional loans.  I did my first Hard Money deal this past week but the points, rates, and other fees, were a quite large.  Yikes.  I know there is private and/or portfolio lending but usually to become a credit union member I have to live in the state or county there.  I don't fit the criteria.

Does anyone know of a private lending in Michigan or other options better than a Hard Money lending for Michigan properties when living out of state.  My credit score is excellent and I have good case reserves but trying to optimize on purchasing properties.  Please let me know.  Thanks.