Beginner Investor - Fix and Flip need lending

[Megan Collins]

Hi!  I am new to the real estate investing and I am having a hard time with hard money lenders to lend money.  Some want experience and some want a crazy payment upfront for their system.  Can you help me out and point me in a direction for lending for beginners in this market?  I would greatly appreciate your help!

Thanks,

Megan

[John Bowens]

Megan, 

Not sure if I can help you exactly, but a few items that might help: 

1) As you are out having conversations with potential private money lenders, you can start the conversation about "Did you know you can use IRA, or old employer 401k funds to make private money loans, secured by real estate?" In fact, appears you are from Dayton, OH, I'm in Cleveland and I speak in Dayton area multiple times a year at various real estate investment clubs and groups. There is one coming up in Mason, OH - October 31-2nd, that I will be one of many speakers at. Just google Ohio Real Estate Convention and you should find it somewhere.

2) Some individuals are interested in passive real estate investing, but have little liquid cash, but significant savings in IRA and 401k accounts and are looking to diversify beyond just stocks, mutual funds, and other public market assets.

3) Always important to work with an attorney, title company, and or closing attorney as you work with a private lender. Lenders title insurance policy should be obtained and all documents properly prepared and filed accordingly. Although the investor is in the drivers seat, as the borrower you should be helping to provide a good experience as reputation is everything. 

Hope this helps and best of luck going forward for you!