All Forum Posts by: Ben Schofield

I have a small rental portfolio built with traditional mortgages.  I'm looking for smarter ways to fund future property acquisitions.  I have a buddy that has some money burning a hole in his pocket.  He has never done private money lending before.  What resources are out there for us to learn how to structure contracts so my buddy can act as the bank (hard money lender?) to loan money for my real estate deals and keep our friendship intact?

I'm hoping to find something better then conventional  Fannie/Freddie loans.  Are banks/credit unions doing blanket portfolio loans such that a second property is fully financed with first lien positions on both properties?  Has to be something more creative out there than conventional financing and all the fees associated with two separate transactions to acquire the second property.

I have a single family home rental property with no mortgage.  What is the best strategy to use the equity in this property to buy additional properties?