A few Questions On Etiquette
So I'm moving toward finding a deal to rehab and flip, I've got a few leads already, and I need to start investigating financing. I'm curious what the etiquette is for presenting deals in the market place when searching for financiers / business partners. Is it even a viable option to receive private money on my first deal (i.e. will anyone even take a risk on me?)? I have enough cash for a down payment on a loan or to fund the rehab but not both. So how does a rookie go about presenting a deal in the marketplace in order to help ensure interest and success? Additionally, what kind of terms should I expect to receive? I'd be willing to split my fisrt deal 50/50 if the financier would fund it 100%.
I have no history of rehab projects but I am employed as a project engineer at an electrical utility so planning and managing large projects is what I do day in and day out. So in a way I do have have experience, just no track record.
Tom