If you wanted me to partner with you or lend you money, this is what I'd be looking for:
0. Have a great deal.
1. Have experience and a track record of success.
2. Have a written, detailed plan.
3. Have some of your own cash to put into the deal.
4. Offer decent returns.
5. Have at least decent credit.
If you wanted me to partner with you or lend you money, this is what I'd be looking for:
0. Have a great deal.
1. Have experience and a track record of success.
2. Have a written, detailed plan.
3. Have some of your own cash to put into the deal.
4. Offer decent returns.
5. Have at least decent credit.
If your looking to attract people with money that are not in real estate bussiness educate them. Being able to explain logically to an uneducated investor how it works is very important.
The best way I have found lately is educating people on self-directing their retirement funds. That does, however, require you to know the rules.
That'd be an interestin business model... get peope to put money in an SDIRA... Loan to your business at say an 8% fixed rate... pass that loan on to others at 8.5 or 9%. You get 1% for setting up the deal. The retiree gets a fairly low risk, collatoralized 8% annual return, investors have access to capital outside of banks...
What returns are you offering to make it attractive enough for people? I can see it being a bit difficult at my level to offer good enough returns unless I have a stronger appreciation/exit play strategy.