You’ve found the property you want to rehab. Now, where do you find the investors to give you the money?
You’ve got your ducks in a row, but the final and most important part of the deal is finding an investor to loan you the money to fix and flip this property. There are three key areas where you can find private money lenders.
THE THREE PLACES TO FIND PRIVATE MONEY
The first place you can look for money is your own personal network. To most this is a pretty obvious place to begin your search for financial backing—at the same time people are uncomfortable with this scenario. Usually, this feeling comes from embarrassment. You have just decided to enter the real estate game and you may not feel too confident—that’s where the embarrassment comes in. It’s no different than if you were an attorney and out of nowhere you decide to quit the world of law and become a poet. Yes, people would probably feel a little shocked in the decision you made—they will wonder why you chose to quit a career you excelled at to become a poet. Usually when you are honest and vulnerable people will react in a positive manner. Use your contacts and speak with your friends and family to see if they are interested in being a part of your new career. They might—and they might not.
Another place you can find private money lenders is at local real estate functions. How do you find one of these meetings? The easiest way is to go to meetup.com and search real estate investing meetings. Every city has these meetings—all across the county. This is where you will find others who are doing the same thing as you. You will meet real estate agents, fix and flippers and private money lenders.
The last place—and probably the most effective way to find private money lenders— is finding a local hard money lender. Arizona Hard Money Lenders are private money lenders— the difference is, that is all they do. These investors work like banks without all the red tape and waiting. Arizona Hard Money Lenders can be found through a simple Google search. Another great way to find Arizona Hard Money Lenders is through LinkedIn. Find some lenders, meet with them and get to know them. These lenders all have a specific niche. If you are a fix and flipper—make sure the lender you find works with fix and flips. Check out their website. Do they look professional? Find out about their history. Do your research.
There are three main ways to find private money and all of them can work.
Reach out to your family. Maybe some of them want to be a part of your real estate journey. Mix and mingle at local real estate functions—find others that work in the real estate profession. You never know who you will meet. And, finally there is always the rock solid choice—research local Arizona Hard Money Lenders.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.