Asking for money from friends and family?

1 Reply

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

I would suggest reading this book by Bigger pockets

The Book on Investing in Real Estate with No (and Low) Money Down:

 It will give you the answer to every question you have on this topic. Plus its a great book anyway.