Seeking Private Lenders & Multifamily Syndication Advice: Expanding My Rental Portfol

[Amanda Rechsteiner]

Hi BiggerPockets community!

I’m excited to make my first post here. While I’m new to the community, I’m definitely not new to real estate—I live, breathe, and love it! I’m looking forward to connecting, learning, and growing together.

My background is in SFR and long and mid term rentals. I've built a rental portfolio and managed every aspect from acquisition to property management. Recently, I discovered a significant demand for mid-term rentals in a particular Michigan market, particularly from highly qualified traveling professionals (not just nurses!). The demand far exceeds supply, and I've had to turn away weekly requests for the past three months now. This is an opportunity I'm eager to seize, but I need to expand my network of private money lenders or equity partners to make it happen.

Currently, I work with private lenders who fund down payments in exchange for monthly payments until they’re paid back from cash flow (12-24 month terms). The returns are great, and my investors love working with me—but they’re all tied up in existing projects, including a major flip. I need to connect with more private lenders for 12-24 month loans, typically $20K-$40K per property, with purchase prices ranging from $110K-$160K. Facebook groups have been full of scams, and my personal network is currently tapped out - but the opportunities keep coming in and I hate to watch them keep leaving! Any recommendations on where to meet trustworthy private lenders that want a good and safe investment and stay removed from property management themselves? This is truly just a small loan. My current investors roll their money right back into my next projects but as I've stated, I've hit my ceiling with them and need to expand this network and these opportunities to others but I am stuck on where to meet more people!

My second question involves apartment building syndication and financing. I’m negotiating an off-market deal for an 11-unit property with value-add potential and room for additional apartments. The purchase price is $1.6M, and I’m looking to raise the down payment through partners. I’d run the entire project and handle property management, offering investors a preferred return and possibly additional incentives. I’d love advice, recommended podcasts, or insights on syndicating and financing my first multifamily deal. I’m working on a Letter of Intent with a commercial broker and leaning heavily into the wisdom of others with experience in this space. 

Thanks in advance for your insights and support! I’m looking forward to connecting with like-minded investors and building long-lasting relationships. I am all for mutually beneficial deals and partnerships.

Amanda Rechsteiner Realtor & Real Estate Investor

[Amanda Rechsteiner]

Quote from @Jennie Berger:

Quote from @Amanda Rechsteiner:

Quote from @Lily Levi:

Hi Amanda, I DM'd you. My family and I are private lenders with experience lending in Michigan. I'd love to learn more about both opportunities you listed. I hope to speak soon!

 Responded! Thanks for reaching out.

Are you only lending in MI currently? 

I'm really curious how you structure your partnerships with new capital partners / new PMLs you bring on board. Like you, I'm also looking to scale my private lending business and bring on new capital partners who are looking for passive income. I'm also looking to lend in a few other states - TX and FL to start. Presently, I live and lend in Chicago IL.

I'm trying to figure out the best way to structure these partnerships so everyone involved is protected. Creating a new Joint LLC with each new partner is cumbersome and not scalable.

*Note that I'm not looking to syndicate or pool funds together at this time, rather to work with one new partner on a single deal, and another new partner on a separate deal, and so on and so forth.

Thanks for your input!

Hi Jennie, I'll DM you! I'd love to help in any way I can and bounce ideas off of each other. But to put this quickly here, I do not form a new LLC with every new partner for every deal.