Unlimited "Private Money"?...

Anybody familiar with Lou Vukas? He is promoting a program (only 150 available so you must order in 2 minutes or regret it for the rest of your life!) to his “hot” list of “164,000”, promoting a “private money” resource. which will unlock the vault to millions!!! I’m so excited, I’m sweating as I type this and can’t wait to make my first million next week!.. :banana

Seriously, I am interested in anyones feedback regarding this individual. The concept of private money makes total sense, but most people I know don’t want to hit up friends and family for money - mixing business and personal - even though it can be lucrative for them… so, if there really was a list of private money resources, I know that I would personally buy it, how about you?!..

So, it brings me to the next question after feedback on Lou… are there really “unlimited private money” resources? I would think if there were, the banks, HML’s, etc. would be sweating it right now… :biggrin

This site has been a great resource, and the regular contributors advice priceless!!! Appreciate any feedback regarding Lou Vukas and Private Money Resources…

I don’t know who Lou is, but I don’t care what the product is: anything where you must buy in the next 2 minutes is not a good deal for the buyer. If the seller has to rush you, he knows you won’t buy if you think about it.

Banks don’t worry about private money. Private money is very expensive money, and no one in their right mind would take private money if they could get the same from a bank. With the exception of your Aunt Matilda loaning you her pension money. But most investors don’t have an Aunt Matilda who will loan them the price of a house, so Aunt Matilda isn’t much threat to the banks.

Private money has its place, but it is EXPENSIVE money. As tatertot said, that’s why the banks aren’t sweating it out. So, the question is, what is its place?

Private money (or hard money) lenders lend in situations that aren’t acceptable to banks and mortgage companies. For example, let’s say you’re a contractor, and you write off all your income on your taxes. (That’s 2 strikes against you - no W-2 and no income). Let’s also say that you like to buy little house needing rehab, fix 'em up, and turn them for a profit. If you have fantastic credit and money in the bank, there is a mortgage program for you. If not, you may want to consider private money. (I can think of some other negative factors, like quick closings and limited assets, that may cause the banker to close the door.)

The trick (IMHO) is to factor the cost of the private money into your cost of doing business. If you have to pay 5 points and 14% interest, plug in the numbers. Does it make sense? If you’re still making money, then I consider private money an acceptable solution.

Private or hard money is a great way to go in some cases. I have used it a couple times and will again. It was the easiest type of loan I ever recieved. 10% interest and an origination fee. still made 20k on the deal. Guy wanted to sell his home for 70k cash RIGHT now, I didn’t have it. called hard money guy, he said Sure! I sold it for 97k, no work done to it. All done over the phone. So what is expensive…not making the call !

Oh, by the way, hard money lenders are every where. run a search and one will lead to another. Or buy his list

Those sounds like hard money loans. My private money deals involve no points, 8-10% rates, and no payments for 6 months.

Private money has it’s place, but I don’t respond to hard sell, guru tactics and would pass on Lou.

Thanks for the replies thus far…

BLL, that’s more along the lines I was talking about… Private Money vs. Hard Money… My understanding is that Hard Money used to be like money, but most, if not all, HML’s now require credit checks with minimums of 620 FICO, points, CC’s, etc. just like a bank. However, their appeal is still faster funding than a bank. Even though HML’s are still considered “private money”. if I have to go through all the above, I will just go to a bank, get an interest only loan at more than half the interest rate and wait an extra week for funding rather than pay 12-15% PLUS points, PLUS CC’s, PLUS, PLUS, PLUS.

Now, from my understanding, confirmed by BLL, is that Private Money is available with no points, interest only, quicker funding, based on equity only, don’t report against your personal credit, etc. and at a rate of 8-10%, with no payments for 6-12months (and some no payments at all). I would be willing to pay 12% if there were no payments until the house is sold, as this is what I believe could fast-track alot of purchases (although that doesn’t help the sell market), and put you into a better competitive situation when purchasing a flip.

This is what I am after… are there lists of private lenders out there that are not Aunt Mable or HML’s? If so, like I said, I would even pay for such a list. I am purchasing my first flip with cash, but I’ve been convinced by many posts at this sight, that the leverage is better with financing… I believe the better way to go if I have to finance, is Private Money vs. HML’s / Banks.

Any leads for Private Money anyone? I’ve got deals lined up that are $15-$30K under tax value, in decent areas, and have been putting off pulling the trigger until I sort out how to finance it.

Any help or leads are appreciated… :biggrin


The terms I mentioned come from Aunt Mable-types who are not sophisticated like the HMLs who know how things work. You are marketing an investment to them and they accept your terms. Alan Cowgill has a program that goes into great detail on the subject. I haven’t read it yet and can’t say if it’s BS or not. I do know he got into some trouble with the SEC and had to modify his program for compliance. The big private funds probably won’t touch your deals unless you need a few million dollars or more.

I think you can fund your own private money by putting together a business plan and pitching it to friends and family. Whatever you do, run past your attorney for compliance with SEC and consumer protection/disclosure laws.

Thanks again… anybody got a list of “Aunt Mabel’s” they want to share?


It is a sales marketing gimick. But he does have good courses. He is an investor who is marketing his knowledge for a price to make money on the Internet.

I received the same email. I don’t just jump right in I do some research regarding better business bureau and commerce before I ever buy anyone courses.

Just a thought!