Need Private Money (anyone have any ideas)

Hello fellow REIA Members,

Does anyone have any good ideas or leads to obtain Private Money for a venture. I am putting together a plan to buy 4 properties (between 20K and 32K each), complete some rehab, place tenants into the apartments/houses, and then resell them. The problem is that the prices for the houses are too low, and the Hard Money lenders that I have inquired don’t want to lend on houses that low.

Additionally, what should I offer in respect to terms; my initial thoughts on terms:

  1. 12% APR on total plus 2 points (flat)
  2. your money secured by your name being placed on the property.
  3. payable in 90 days

John M.

Have you looked at Not the easiest way to go with 4 houses, but may be a start.