Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
Given the SEC rules, I see some real estate course gurus who seem basically to pursue private money as follows:
1) You contacted us about our course (perhaps through one of thier spams, facebook or LinkedIn postings.
2) Therefore, we "know" you (and did not get you directly through the now-illegal advertising such as newspaper ads). NOTE: I noticed statements to this effect (you know us because...) in their emails
3) How would you like to become one of our private money lenders? Why, here is a great 16-unit apartment and you could get up to 15% by jumping in now...
Is this REALLY fulfilling the SEC requirements/exceptions (REG D, etc.)
Jimmy C. I'm Alex from Central Florida, I'm having the exact same situation as you in trying to find private money to fund my deals. The issue with having a close relationship first before approaching someone for a private money opportunity is that usually people are very tight and close in terms of whom or who they allow to enter into their financial lives. In the meantime, I do agree with you, that there are a lot of opportunities and countless of private money transactions being made out there.
Originally posted by Jimmy C.:
So I shouldn't send a letter to these folks to fish for a private mortgage?
Gotta take them to dinner first? Meet their family? :-)