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Updated almost 9 years ago,
Private Money Lender - Advice Needed
Hey BP,
I am trying to find a private money lender to assist with the finances of house flipping. Originally, I was going to obtain a hard money loan. However, after a great deal of research and analyzing the outcome as far as profits, I have decided to not go the HML route. I have been networking and feel that I have a pretty strong team as far as contractors, real estate agents, property managers, etc. So I already have a plan on how the work is going to be accomplished. I have been trying to break into the investment game for quite a while now and I truly feel that it's now or never. I would like to partner with a private money lender and instead of doing a 50/50 split, we would do something more along the lines of 60/40 or 70/30 (depending on profits). I am extremely confident I can pull this off. Especially since Atlanta is such a HOT Market right now. How do you guys think I should go about finding a lender that will agree to these terms? Any and every input is greatly desired.
Shanaya S.