Asking for money from friends and family?
Hi BP, for those who are seasoned, in the process or working on this yourself- how do you go about presenting opportunities to get friends and family in on your investing. Do you simply ask, create a presentation and offer them insight to what they would gain.
My stance is - id love to get into a straight up flip. I would also like to make it known I would do some work myself ( bathrooms, some flooring, trim, hardware ect....) so there would also be some savings in the labor. Sublet things not worth my time or best suited for a pro.
What I would think is important to go over would be the following , if you agree , disagree , needs more or think something is not necessary please share!
not in a particular order.
Location
Price
Value after repair (along with presenting comps)
Money needed
What they will gain
When can they expect it
How long it will take
What they need to do
How they will get paid/want to get paid
-What I will do, what I’ll do to create even bigger returns ( do some work personally )
Any input is great. Would love to see how/what seasoned or others are working on. Hoping this will also bring good information for others working on their business plans and presentations!
Happy Selling.
Dillon