Advice for approaching a Private Money Partner?

[Rachel Luoto]

Hi Team!

Any advice for pulling the plug on asking someone to be a private money partner?

We have a great mentor/mentee relationship; I don't want to alienate one of my most valuable connections by asking for money, and I know he doesn't care about investment return, etc - he would just be doing it as a favor to me.

I've already got my first and second deals underway via my own cash/credit, now that that is tapped out I want to work on private money before seeking hard money.

All advice appreciated!