I have a local lender in the Charlotte Area. He has recently funded a relatively small deal for me, but performed nonetheless. He is looking to expand his bankroll. He is offering a 10% guaranteed rate of return annually. I know you guys usually are looking for something a LOT sexier than that. But this has relatively low risk. He does not take funds from the investor until he already has the deal underwritten and ready to fund. And another plus is that his investment requirement is relatively low dollar amount 30-50,000 minimum. He is an investor himself and his portfolio is roughly 30 units, so he is experienced in the business, not just some clown that fell into a lot of money and is trying to figure it out as he goes.
You may also want to know that he is only lending in the greater Charlotte area. This area has not been hit nearly as bad as many of the other markets out there. He is coming across great deals on a daily basis, but needs to have more funds available should more outstanding opportunities present themselves.
Anyway, if you have anyone who is interested in hearing more please drop me a line at p_heaslet@yahoo.com.
Pete Heaslet
Hunter Ventures LLC
704 256 3026 www.hunterventuresllc.com