What info for private investors?
In addition to using bank loans and hard money, we've also approached people for private investments. So for example offered 10% after 12 months if someone puts in $5,000. This has been pretty straight forward so far. We have a standard contract, utilize the money for a project and then pay it back in 12 months or sooner (like if a flip sells sooner than 12 months). However, a recent investor demanded to know all kinds of information about the project such as: where all of our other financing was coming from, wanted a copy of the title, a copy of the rehab estimate, appraisal, and wanted collateral. Now keep in mind this is in addition to an information packet about the property (history, location etc) and the Bigger Pockets flip analysis. My business partner was flabbergasted. He didn't feel that we should have to provide all of that information to an investor. I understood that it's more than anyone's asked for but also understand $5k is a lot of money to some people. What kinds of info do others on the site/in the biz typically provide to investors? Thanks!