Victor I have dealt with the section 8 dept in Charlotte on many occasions as a landlord and through our private lending operations.

And do it consistently.For example, I'm closing my fourth wholesale deal of the year this coming week and they have all been MLS deals that I have gotten for well under list and market price.Jon may be correct in saying that if you plan to stay in one particular market and do all your deals in that one particular market or city, private sellers may be the better way to go.However, if you can set your business up to do deals in markets where the conditions are right, farming the MLS and wholesaling those deals can be extremely lucrative.That being said, I always have letters or postcards going out to home owners, all the while farming the MLS in selected cities.

He said he could send the management agreement, but they don't send out the lease as that is their property and private to them.I asked if I agreed to go with them and signed their management agreement, would I be able to review the lease at that time?

From that point you'd have to go into private funds with higher interest, which would drive that number down.

I wanted to know if anyone has had success attracting private money.

That said, I have a couple of quick questions:- If you pay an unincorporated individual (private citizen, non-business entity) more than $600 do you have to issue a 1099-MISC?

I would be careful about doing this with a private seller, who is more likely to use the information to negotiate.

This has been my business for over two decades and I routinely lend to fiduciaries, private and public, personal and commercial, without the need to vest title individually or sign co-guarantor agreements.

Met a Commercial Lender for a small private bank in the Chicago area at the WCRT meeting last night.

So see hard money as a tool that allows you to leverage your limited capital and increase your ROI significantly.And by all means, develop your own sources of private money over time.