New to BiggerPockets: Seeking Tips on Private Lending - Finding Multifamily Property

[Frank Alfano]

Hi BiggerPockets community!

I’m Frank, based in Northern NJ, where I invest in multifamily properties and short-term rentals. My real estate journey began in 2010 with a three-family property that I lived in, renovated, and eventually turned into a profitable rental before selling it via a 1031 exchange to purchase a short-term rental.

My current goal is to acquire my first multifamily property using private lending by Q1 2025 and grow my portfolio using the BRRR strategy.

A question for the community: What’s been your most effective way to connect with private lenders for small multifamily properties?

Looking forward to learning and contributing!

[Amir Khan]

@Frank Alfano I am assuming when you say small multifamily then you are referring to up to 4 unit building. Why are you looking at PML vs traditional financing for this type of deal? 

In my experience, PMLs finance all types of deals SFH, residential multifamily up to commercial multifamily. I think it will help if you are laser focused on your PML avatar. For example; you could target high earner W2 IT engineers. Then it becomes a bit easier to figure out how you are going to target them.

For example; I use a specific real estate investment strategy with a 5-year exit. My PMLs are people with self-directed IRA who are perfectly fine with 5-year term while earning double-digit returns passively tax-free in their SDIRA.

[Frank Alfano]

Thanks, Amir—this is incredibly helpful feedback! You’ve given me a lot to think about, especially regarding refining my ideal PML strategy. I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.

To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones. My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.

Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders? Do you focus on networking events, direct outreach, or something else? Thanks again for sharing your insights!

[Wale Lawal]

@Frank Alfano

Welcome to BP!

If you’re looking to connect with private lenders, start by tapping into your existing network—friends, family, and colleagues can often be a great starting point. From my experience, attending local meetups, lending-specific events, and networking with experienced investors can open doors. Be active on social media, share your investment goals, and focus on building trust. The key is to consistently put yourself out there and learn from others in the process.

Good luck!

[Frank Alfano]

Thanks so much for the advice! I really like the idea of starting with my existing network and attending local meetups. Do you have any recommendations for the best types of events or meetups for connecting specifically with private lenders?

Also, when it comes to sharing my investment goals (on social media or in conversations), do you think it’s more effective to highlight specific deals I’m working on or just my overall strategy? I want to strike the right balance between transparency and professionalism.

Appreciate the guidance—thanks again!

[Amir Khan]

Quote from @Frank Alfano:

Thanks, Amir—this is incredibly helpful feedback! You’ve given me a lot to think about, especially regarding refining my ideal PML strategy. I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.

To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones. My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.

Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders? Do you focus on networking events, direct outreach, or something else? Thanks again for sharing your insights!

I collaborate with large custodian companies. In additional to conducting educational workshops, I also write blogposts for their websites. You could organize your own in-person event and market to your avatar.

[Derrick Lewis]

Quote from @Frank Alfano:

Thanks, Amir—this is incredibly helpful feedback! You’ve given me a lot to think about, especially regarding refining my ideal PML strategy. I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.

To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones. My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.

Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders? Do you focus on networking events, direct outreach, or something else? Thanks again for sharing your insights!

 Is there a reason you aren't looking at hard money lenders?

[Frank Alfano]

Quote from @Derrick Lewis:

Quote from @Frank Alfano:

Thanks, Amir—this is incredibly helpful feedback! You’ve given me a lot to think about, especially regarding refining my ideal PML strategy. I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.

To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones. My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.

Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders? Do you focus on networking events, direct outreach, or something else? Thanks again for sharing your insights!

 Is there a reason you aren't looking at hard money lenders?

Thanks for the suggestion! I haven’t ruled out hard money lenders, I just don't know where to find them yet. Do you have experience using them for your projects?

[Frank Alfano]

Quote from @Amir Khan:

Quote from @Frank Alfano:

Thanks, Amir—this is incredibly helpful feedback! You’ve given me a lot to think about, especially regarding refining my ideal PML strategy. I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.

To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones. My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.

Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders? Do you focus on networking events, direct outreach, or something else? Thanks again for sharing your insights!

I collaborate with large custodian companies. In additional to conducting educational workshops, I also write blogposts for their websites. You could organize your own in-person event and market to your avatar.

Thanks, Amir! When you say ‘market to my avatar,’ are you referring to a specific type of audience I should focus on?

[Amir Khan]

Quote from @Frank Alfano:

Quote from @Amir Khan:

Quote from @Frank Alfano:

Thanks, Amir—this is incredibly helpful feedback! You’ve given me a lot to think about, especially regarding refining my ideal PML strategy. I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.

To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones. My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.

Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders? Do you focus on networking events, direct outreach, or something else? Thanks again for sharing your insights!

I collaborate with large custodian companies. In additional to conducting educational workshops, I also write blogposts for their websites. You could organize your own in-person event and market to your avatar.

Thanks, Amir! When you say ‘market to my avatar,’ are you referring to a specific type of audience I should focus on?

@Frank Alfano Avatar is your ideal prospective client. This is based on demographics/interests including age, profession, income etc..

[River Sava]

Hi Frank, sounds like you’ve built a solid foundation and have exciting plans ahead - 

If you're planning to scale, you might also want to explore hard money loans or DSCR loans alongside private lending. They can be great tools for funding acquisitions and supporting the BRRR strategy, especially for multifamily properties.

The article below sheds light on how DSCRs come into play with the BRRRR method. Happy to connect!

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

[Frank Alfano]

Quote from @Amir Khan:

Quote from @Frank Alfano:

Quote from @Amir Khan:

Quote from @Frank Alfano:

Thanks, Amir—this is incredibly helpful feedback! You’ve given me a lot to think about, especially regarding refining my ideal PML strategy. I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.

To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones. My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.

Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders? Do you focus on networking events, direct outreach, or something else? Thanks again for sharing your insights!

I collaborate with large custodian companies. In additional to conducting educational workshops, I also write blogposts for their websites. You could organize your own in-person event and market to your avatar.

Thanks, Amir! When you say ‘market to my avatar,’ are you referring to a specific type of audience I should focus on?

@Frank Alfano Avatar is your ideal prospective client. This is based on demographics/interests including age, profession, income etc..

 Thank you!

[Frank Alfano]

Quote from @River Sava:

Hi Frank, sounds like you’ve built a solid foundation and have exciting plans ahead - 

If you're planning to scale, you might also want to explore hard money loans or DSCR loans alongside private lending. They can be great tools for funding acquisitions and supporting the BRRR strategy, especially for multifamily properties.

The article below sheds light on how DSCRs come into play with the BRRRR method. Happy to connect!

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Thanks for the response and for sharing the article, River! It was really insightful, especially the part about how DSCR loans offer shorter seasoning periods and more flexible qualification requirements compared to conventional financing.

I'm currently focused on scaling into 6+ unit multifamily properties in New Jersey using the BRRR strategy. Pairing hard money loans for acquisition/rehab with DSCR loans for refinance seems like a strong approach to keep the momentum going.

Do you typically fund multifamily properties in New Jersey? Also, I'd be curious to hear what terms you typically offer (interest rates, LTV, and seasoning requirements) for these types of deals. Thanks for the insights—it's helpful to see how others are making this strategy work!