how do i find private investors ?

I just received an offer for 79k for my house and land but one of the contingencies is owner financing with 20% down. But I have to pay off my mortgage of approximately 60k. My mortgage will not let them assume my outstanding balance and is not lending any new money right now. I know there are private lenders but how do i find them ?

5 Responses to “how do i find private investors ?”

  1. Landlord Says:

    That is a pretty crappy offer. I would tell them to walk on. You are not in the position to owner finance. Also, YOU should not be the one looking for hard money, they should be. DO not sell unless you can at leasrt pay the 60k off with the funds.

  2. bud68 Says:

    Why would you even accept that offer? It doesn’t make sense when you have an existing mortgage.

  3. codysdoor Says:

    I hate to answer your question by not answering your question but this isn’t going to work for you.

    Private "hard money" lenders are going to charge you a higher rate than your buyer is going to be willing to (or expect to) pay.

    Hold out for another buyer, try to talk the mortgage company into letting someone else assume the loan, or simply tell your buyer you can’t do owner financing as the money you’d need to pay of your own note is too punitive.

  4. Freeport77541 Says:

    If they can not get a loan then why should you loan them money? There are many scams out there in this world and this sounds like yet another. Tell them you will discuss it with your real estate lawyer. I will place bets you will never hear again from them once you say a lawyer is involved.

  5. Looking4notes Says:

    I have a network of note buyers looking to buy your note from your seller financing. with 20% down. I would expect it to sell quickly.