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Putting forward a professional image is key here. There are no fees to apply and no upfront costs. Would Love to connect with Private funding for real estate investors on a flip or two in Atlanta Georgia sometime. There are for sure. Hard Money, Made Easy. Real Estate Debt Funds occupy an important place in the commercial real estate finance markets. Mine, we do a standard deed of trust and promissory note, the payment is negotiable, the rate is negotiable, the profit split is negotiable, the points are negotiable. I have a couple of small private money lenders that I can use from time to time but nothing like other investors in my area.
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Thanks for this great article Anson! I really appreciate this. Broker Referral Corporate Partner Programs. He left the meeting with six figures in pledged funding. Private funding for real estate investors Anson Young. Long story short, two hard lenders were prepared to fund my project for 2million commercial retail strip center including land. Hi Brandon- You are so right, the devil is in the details, and it is rare that anyone give you a peek at their lending tor. Toggle navigation. Good article, Anson. Find local real estate meetups and events in your area. Our real estate investment strategy allows us to invest across the capital structure in either equity or debt instruments based on our relative value investment approach. Know immediately if we can help you fund your next flip. Investorss should they invest with you? From there, the conversation could go different ways. How do I find other competent lenders such as Bizarre love triange the speaks to sift thru rehabbers dreams of vast flipping profits on properties before bringing the deal to me and my large inventory of lenders of cash?
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Hi Anson, thank you for the post! I currently gaining knowledge in the house flipping business, and doing the research and this article really helps. Before he left, he gathered some colleagues in a room and let them know what he was doing and sold them on investing with him. Paul Winka Replied about 3 years ago. Get Funded. Do you go to the casino and bet it all on red at the roulette wheel if you do this, call me first—I want to watch?
Private funding for real estate investors. One every lender
Thank you! Reginald Washington Replied 11 months ago. Jason T Rabon Replied over 1 year ago. Bruce- Do you fund nationally, or only in your own state? As a private lender, I only feel secure lending on collateral I can see and touch within an hour of my own home. Each state even county! Also, how can you feel secure with property that is located a very long way from you? Who inspects for draws? How do you double check comps?
How do you get to know your borrowers? The neighborhoods? How do you communicate effectively? What about the biggest issue for lenders— Ie, that of trust? Just wondering if you have any tidbits for us all, as several people are reaching out to me from other states….
I market or network until I can find the terms that I want. Sure, I have to weed out 10 to find one on my terms, but thats what it takes! What are your terms? Nice work, sir. Ben Ruskin Replied about 3 years ago. The interview you heard about the retiring police officer gathering his colleagues and convincing them to invest in him was BP podcast episode 3.
You are correct, I then sat on a speaking panel with Brian Burke a week later. Need a memory check!!! Peter S. Hey Anson, You mentioned that you often work with multiple smaller lenders to fund your deals. How does that profit sharing typically work out in that situation? Anson, I think what Peter S. What are the lending docs? What portions do your record? How to you steer clear of the SEC if your investors are not accredited?
What about investors from different states? Do you use an attorney? What does it cost, per deal, to set up the lending package and close? How are profits divvied up? I would love to know that too! Thanks, in advance…. Margaret, the smaller investors are usually utilized for 2nd position rehab monies.
So it looks very much like the 1st position, only in 2nd. So deed of trust, promissory note are both recorded at county. Jim Galart Replied about 3 years ago. Anson, This was the best information on private money I have read. After reading some of the posts a lot of my questions were answered. Thanks Jim Galart Lubbock, Texas area. Thank you Jim! I appreciate you taking the time to read and comment! Good luck out there!
Thank you for the information! Also is there an example on here of power points and track record sheets that you give potential investors? Or should I write up a full business plan? Hard to say, since each and every private money lender is different. I would say 9 houses is plenty of track record to ask for straight interest rate vs. Good luck out there!!
Good article, Anson. Thanks for sharing. The one thing I am finding lacking with articles about raising private money are the actual mechanics of the deal…for example, do you start an LLC and form a JV for each deal, and who pays for the associated costs including drafting the legal documents like the note …and how do you handle closing? There are a million ways to structure it, and it will depend on what you and your lender want to do.
Mine, we do a standard deed of trust and promissory note, the payment is negotiable, the rate is negotiable, the profit split is negotiable, the points are negotiable. So therefore, the reason there isnt a play by play of how these are structures, is because everyone does it differently! Hi Brandon- You are so right, the devil is in the details, and it is rare that anyone give you a peek at their lending package. I would suggest you spend some time with both lenders and borrowers in your local real estate clubs you may have several in your general vicinity, and it is good to join ALL of them, esp while you are networking to find out who is who and what they are doing!
Ask each of them at some point very nicely, of course! As a lender, I use a mortgage and note to secure my first position in the public record, and if there is a profit sharing component, I also have a Participation Loan Agreement, or something of that nature, that takes precedence. I will say that a lender should have their own docs, make the changes that pertain to your individual deal, and have you review it for negotiation.
However, if you are dealing with a newbie lender, you two might want to sculpt the deal together and share in the doc creation and closing costs. If you are both working toward a deal that is fair and equitable to both sides, with good faith among all, you should have the foundation of a long term investment partnership.
Good luck! Ray Morris Jr. I am a buy and hold investor. I will deifinitely try a few of the strategies and also develop a short presntation in the hopes of getting long-term private funding. Awesome Ray! Thats a great way to do it, educate then present opportunities! There are for sure. There are even lenders who do a hard money loan up front, then the refi 6 months later for this type of deal.
Its all about finding the right person, who knows their money will be tied up for 6 months until you can get the conventional refi in place and buy out the private money loan! My biggest challenge in finding properties is going through realtors who want you to sign with them exclusively and who want to verify your finances before the finances have been obtained — have you had this as an issue?
Gloria, For the last 3 or so years, all of my deals have come from off market sources. Its a hard piece to learn and implement, off market deal sourcing. Not impossible, though. When approaching lenders, they are either sold on you, the opportunity or your track record.
Or a combination of those things. Going in with zero track record, you better have a winning personality and some good opportunities that a lender would jump at. Its the nature of the private money game, track record usually wins, but isnt the end all-be all. Atchuta neelam Replied over 2 years ago. Hi Anson, Great post, Useful for all real estate investors. Great post.
As a lender, I give out about 10 cards each time I attend and may receive one followup. Ask at the REIA meeting who the lenders are, talk to them and follow up. Show drive, passion and dedication. Take the time and craft the letter. Absolutely on all points. Cold call and mailing them works, if we can work it out, its perfect for us since they usually arent lending to 10 other investors….
Diane Williams Replied 11 months ago. Very interesting. These are the lenders I am interested in conducting lending with. However, if there off the grid how would I find them to make a direct connection? Please explain the process of finding these higher end lenders?
Thanks, Diane. Great post Anson…thanks for sharing. For any of the lenders reading…how do you lend for buy and hold investors? I get that an agreed split can be worked out for a property that is being flipped, but what about buy and hold…do you just work out payment terms?
The other larger, private lenders in my area are also short term lenders. So far I have not been approached with a long term or equity deal that entices. Alex Sanfilippo from Jacksonville, Florida Replied over 2 years ago. Thank you Anson. I am a new investor looking for my first multi-family deal. As such, it seems my only real option is to get started with hard money.
Any thoughts? Hard money, or family private money seems like a good option. Hey Anson, thanks for this! Follow-up question coming from a total newbie. Do you have templates, models or spreadsheets you work off of? Checklists of information you typically include? You throw some hints at info you present with the questions at the end of the quote, but what specifically do you focus on beyond presumably IRR, COC when it comes time for the hard sell? Resources include any kind of investment calculator, and prettying up the output with nice infographics and a good presentation.
Nothing too fancy, there are usually numbers and a handful of terms. Great post Anson. There were a lot of good golden nuggets of information. Great article! This is definitely a skill people need to learn if they want to do well at real estate. Hi Anson, great post. Thank you. Hi Anson, thank you for the post! Might I suggest a follow up topic?
How to structure these deals once you have the money! Warren Replied over 2 years ago. Hello Hanson. Great Article. I am an OPM advocate and would like to know if you have any lenders who will consider deals in Atlanta, Georgia Baton-rouge, Louisiana. I also have in qualified in-buyers with POF funds. It is full of real stuff. I also have a few good deals here in South Africa, and I am looking for funding.
This post really gave me some insights. Hi all. Starting with the original post by Anson, all the comments have complemented an excellent discussion for this topic. Different angles of the same bussiness have enriched our knowledge and have opened our eyes and broaden our view. Thank you all for your insights, particularly to Bigger Pockets for gathering us in this forum.
Mike Replied about 2 years ago. Finding a hard money lender or larger investor can be very difficult. I spent over 6 months running from one bank to another, none could help me. I was exhausted and before a local loan officer referred me to a hard lender; he only does this when the deal is solid.
In my case, at 28, two yrs work experience, I decided I could make it in real estate development than doing my professional job; felt I was doing alot and not rewarding enough, though pay was 6-figure. I had solid development plan, superb resume, excellent credit and recent closed development deal. My first and recent development also played a key role, where I designed and built a half a million dollar mountain home that sold few days in construction; the design was custom and attracted lots of interest from millionaires looking for buy a mountain vacation home.
All of these, coupled with my local bank officer and a broker working with my development group, made me seem very legit despite uncapitalized. Long story short, two hard lenders were prepared to fund my project for 2million commercial retail strip center including land. The project will worth 5 million plus upon completion. It sold for 5. My partner has degrees in Business Management and I. Thank you Anson for the article. I currently gaining knowledge in the house flipping business, and doing the research and this article really helps.
Any other advice you have would be appreciated. Thanks again for the article. Tom Roisum Replied over 1 year ago. Thanks for this great article Anson! Very informative. I am an investor in MO and currently looking for partners to fund our Real Estate deals. Thank You. Indeed article is on point….
I am 3 months in my REI journey… here is what I think….. Network with other investors… who are not just lenders……. Thanks for this very informative and motivating article, Anson. I appreciate you sharing your hard earned knowledge and experience. Anthony Applewhite from Nesbit, Mississippi Replied over 1 year ago.
Thanks for the information. It was very informative. I am a new investor in the Memphis, TN area and I would like to get connected with some lenders who are willing to loan 0n deals with new investors in my area.
Thanks and hope to be doing business with you. Patrick Replied over 1 year ago. Anson, Nice article. Very helpful for rehabbers and newbies. Although we are in primarily in the commercial arena I found especially helpful were the comments you were able to elicit from your readers. ROI, preferred returns, time to payment, lien position, amount of up front financing, legal entities, investors vs. VC firms, etc. It took a while and multiple discussions with individuals from different disciplines.
Shawn C. Thank you so much for posting this article. I have a couple of small private money lenders that I can use from time to time but nothing like other investors in my area. Your article gave me some great ideas and the confidence to try those ideas out that you wrote about in your article. Any investment information contained herein has been secured from sources Fund That Flip, Inc. We recommend that you consult with a financial advisor, attorney, accountant, and any other professional that can help you to understand and assess the risks associated with any investment opportunity.
Fund That Flip. Real Estate Loans, Simplified. Get Funded. You may have heard about us here. Apply in 5 Minutes Get an indication of approval after a short, 4 step application process. See How. Get educated on online lending Sign Up. The developer has a track record of residential rehabs in this market. The developers have a track record of new construction in this market.
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Reach out to us today if you have any questions. He had a lot of good information. I learned about the self-directed IRA and the Solo k. He then shared with us different investments we could participate in using our self-directed IRA like buying notes, debt portfolios, tax liens, commercial real estate, and rehabbing houses.
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