How to find $200k in private money within 3 weeks

Financing, Hard Money Lenders, Private Money
1

Hi,

I am not sure who can answer this question. But i would like to know, how can i find private lenders (such as private individuals) that will finance my deals. I would like to have $200k in reserves within the next 3 weeks. Any suggestions? ???

2

Hello,
Most private money investors with millions to lend use a broker. These brokers have the access to the investors.

As for getting a cash reserve, most investors loan on a project to project basis. Which means that you would be approved on the value. No cash reserves are set up.

There are good benefits to using private money.

3

Thanks Cmacone

but i am not looking to go through a broker. I would like to find private people that have 10-100k to invest in different strategies that i have come up with. Ready money money. Money that needs no qualifying or credit check. I want access to the type of money, that i can close a deal with today if necessary. So i dont have to worry about creative financing.

Thanks anyway.

If anyone has suggestion, explaining how i can access private money, please email me or post here. :bouncemulti:

4

See if any are in your area & will work with you that are listed under “Hard Money Lenders” on the left column under “Investor Resources”

It’s worth a shot…

5

Hello, Since your not interested in using a broker to find your funding, then I suggest that you create a business plan. Then contact your relatives, friends, and professionals that you know (like your lawyer and doctor) and your REI club investors and present your plan to them and ask them for some funding.

At my REI club, there was a speaker by the name of Alan Cowgill of Integrity Home Buyers Inc. that has a course on how to do this. I did not order the information since I have my own funding but, maybe his course can help you.

6

Hi! Are you a broker? How can I contact you? I need your phone number.

7

Hey Charlotte Player,
Chris is right, i listened to some of alan’s audios on other websites and found it to be informative. You can try your:

  1. Friends
  2. Family
  3. doctors, dentists
  4. cor workers
  5. people with self directed iras who want better return.

Stirke up a conversation, mention that you are looking for people to fund a project. See if that interests them. Explain what you are doing. THen if they are agreeable, you will need to have an agreement at that point. I’m not sure what kind it would be but others on this site more knowledgele than me should be able to answer what kind of doc you will need to get them on board. Good luck.

steve

8

Trying securing a line of credit from the bank. Remember you only pay interest on the money you take from the line of credit. Once its established it pretty much always stays there for you. So when you have a deal you can get the funds probably within 48hrs…

9

Thanks Kikaider, those were some really good ideas. but one really stood out, how would i advertise to self directed iras?

10

talk to your friends, talk to shopkeepers where you buy locally groceries, where you pump gas, let people know you buy real estate. Find out if they have a self directed ira. Go to your local reia meetings, there may be investors there that want to kickstart their self directed ira. Google the web to find out more.
steve

11

Thanks guys, for you input. All of this talking, i am kind of lazy. Maybe i can hire someone to talk to all of those people. I think there has possibly has to be a better way to attract private that have money to invest in.
:cry:

12

Unfortunately, there ain’t no shortcuts…it’s all about the relationships you build. After you take care of people on a few deals, you’ll find that you have ready access to as much as you need. Reputation is paramount in this business.
Regards,
Dave