I prefer to do this type of referral in private because there are so many folks who would say I referred, and when I next speak with that attorney I have no idea who the heck they are saying I sent their way ;)

What are common uses for using private money funds?

I'd like your advice on my thinking, and would also be interested in knowing more about other hard-money/private options available in my situation.Here's the scenario: Project: Upstate NY, 3-unit/12-br multi-family mansion - complete gut, rehab, and change of use from 2 to 3 family Purchased: 115,000 ARV: 375,000-400,000 Held by my LLC, not personally Project Status: Rehab is currently half complete.

Lets see you highly leveraged your money, you raised private capital, you used owner financing, you have great cash flow, there is not much you didn't do great on.

Karyn you are sitting on an endless supply of private money through your connections.

You are almost to the point where you will have to change your financing strategy and either go with commercial or private financing.

Assuming you get a private loan to finance the purchase then do a term refi to get the capital outlay back out it usually isn't a great cash flow place.

Hi Ray,Are you in need of private funding for your projects?

The IRS doesn't get the note terms.If he refuses to close you have him on a valid contract, he won't want to go to court for performance, nothing personal, it's just business.If he closes he can come by personally and pick up his payments, I'd bet he gets tired of that.

Howwever, there are many other funding sources out there that can be used to fund deals that do not require 90 days title seasoning, such as hard money loans, private investor funds, self directed IRA's or retirement funds, and other less conventional funding sources.