How can I locate private investors? I am in NYC and need 400K to purchase and reaab a property but have no idea how to go about it. I work 5 days a week and have one child and one on the way so Internet options are best for generating leads. Any ideas?
Howdy Burn1980:
I would look for a hard money lender. One that does not require a lot of cash from the buyer. I just did a 30,000 foot building for $400K that I borrowed 100% of the capital. I got $35K from a private individual and the rest from a hard money lender. It costs dearly at 14% plus 5 points but better than a partner if I do well.