Looking for private money lender

[Tyler Newman]

My partner and I have an LLC we formed in May. I have a strong financial background and understanding of real estate while my partner already runs a large general contracting business of his own. We just went under contract on our second project and are in need of capital to fund the rehab, $100k to be exact, it is a higher end flip.

I’ve heard of private money lenders but they seem to be a myth, at least for me.  Is there no website or platform that you can post your deal on and see who is willing to partner with you?  I get the friends and family or rich uncle route but unfortunately for us, we do not have those at our disposal.

The best we have been able to come up with is BHG financial but rates are 14.25%!  And you are locked in for 12 months or more before you can pay it off.  I don’t know that it is in our best interest to start out our business with that much debt at such a high rate and for such a long period of time.

Any help getting us pointed in the right direction for a true private money lender would be greatly appreciated!