What is the Easiest (legally compliant) way to raise private $$??
I am just starting out with leveraged rehabs to fix & flip, and to fix & hold. Quickly I have developed a desire to raise private $$ for deals to increase margin. I have seen so many posts about "Raise private $$ this way and find yourself in the orange jumpsuit." I would like to avoid that if possible. So what is the easiest legally compliant way to raise private money capital? I have heard friends and family. Okay, but what is a "friend" (legally speaking regarding raising investment capital). Is it the family doctor, my childhood best friend, or is it be anyone who used to work with me at a W2 job, anyone who worked at the same company as me, and facebook friend, my college friends and class mates, people at the country club I just joined? I know some people are probably shaking their heads right about now with this newb question, I just want to make sure I am approaching this the right way. My plan was to put together some type of pro-forma presentation on a deal I am working on to show (a) the process & expected success of the deal and/or (b) the returns a private money investor could hope to make, and fire that off to my network of past colleagues, family, friends, college friends & acquaintances, etc. Will my plan work, not work, wind me up in the orange jump suit? Thanks :)