Posted by Carmen_FL on November 06, 2000 at 10:25:54:
First, please turn off your caps lock when you type! It’s very difficult to read, and it’s the equivalent of “yelling” in net-speak.
As for private investors, or “hard money” lenders, you may be able to find them by:
Looking in your newspaper under the “money to lend” section. There’s usually a few there, who say they will loan on property.
Look in the newspaper under “real estate wanted” and call the people who advertise “we buy homes”. Find out what they’re looking for, you may be able to flip some properties to them. If they are willing to speak to you further, ask them about investor groups in the area and who they use for hard money.
Go to an investor meeting in your city/town (look on this site, there’s a listing of meetings). There will most likely be a few hard-money folks hanging around there trying to drum up business.
http://www.creonline.com/clubs/clubs-ok.htm will give you clubs in Tulsa and Oklahoma City. Even if you are not in these cities, call them and ask about clubs where you are - someone will most likely know.
Run your own ad saying “15% return guaranteed, secured by 1st mortgage on real estate” or some such thing. Then the people with money will call you. Be careful here, because you can’t mingle different people’s funds. LeGrand has a course specifically dealing with this.
Try doing a search here for hard money. I recall seeing some URLs for hard money sites on the web. You may find a few there (I haven’t tried it)