How to Find a Private/Hard money lender for a BRRR

[Bian Dahab]

Hi, we came across a very attractive deal. It has two residential units + one commercial unit. Residential units are kept well and rented below market. Commercial unit is not rentable, it needs quite some rehab to bring it back to a rentable condition (electric, plumbing, wall…)

The property is priced significantly below the sum of the parts. With 20% down, the market rent from two residential unit will pay PITI. The current rent will pay P&I.

It is in an up and coming location and we could do 1) BRRRR (esp. the commercial unit) and 2) Flip to new construction eventually (if we have the team, the capital and the time. Might be best for syndication as the capital will be significant)

Where do we find a private money lender / a hard money lender to start with?

[Robin Simon]

This is probably a tougher one considering most Hard Money / Private lenders that are go-to for BRRRRs like this focus on residential only - your best bet might be private money found here or in person networking or a local bank / credit union.  Probably best to go local on this for someone to be on the ground and really understand the property and project from the lending side, rather than a national platform