Buy and Hold Hard Money or Private Money Lender

[Temie William-Olley]

Hello, 

I am looking for advise on finding a Hard money or Private Money Lender that can fund a buy and house purchase property. I am looking at these two options because I want to go into the deal so that i can buy a foreclosure property or so using a 60-70% rule. I would have looked to the traditional bank financing option but I anticipate that I would only able to bring about 30-40 to the table and would still need to do rehab and have other expenses. 

I have already pinpointed a 2 Unit  property in that would present and option to convert a small room in the back of the house to a studio also. Asking price is about $215,000, which in northern jersey is a pretty good deal. 

Is this a smart idea to seek hard money and which hard money or private money lenders can anyone recommend.