I made a list of ten people I know personally and I want to approach them about raising private money (either from them or people they think might be interested) for quick flips in the New York City area. I don't have a track record yet since I'm starting out but I'll present to them each deal with an organized professional presentation including the numbers, time line, rehab estimate coasts, profit and more.
I wanted to hear some opinions about what's the best way to approach them.
Should I present interest based loans or profit loans? Should I mention any numbers or let them bring it up?
Several years back I attended and purchased Allen Cowgills Private Lending course and in it was a Credibility Kit he uses to make people feel comfortable about private lending.
I used to offer mine out a few years back.
Its basically a resume that introduces you to the potential lenders and it also has several Q&A type questions that might come up from the lenders. I have only had to use it a handful of times but it has worked for me. To me it was the most valuable piece of info in his whole course.
Let me know if you have any questions, Curt
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