Dinner with real estate investor for partnership financing option

Dinner with real estate investor for partnership financing option

North Dartmouth, MA · Member since 2014 · 172 posts · 53 votes

Hi All,

I've been about on the forums recently and have been networking and doing my due diligence on strengthening my week ties. I guess it's paid off. Out of curiousity, I texted a friend of mine about his interest in REI and he has the same passion as I do but a completely different skillset. Long story short, we are finishing up a confirmation of a dinner with a potential financing partner to fund our first project in mass. To all the BP members, in your experience, what is the most important thing when selling your idea, work habits, and passion to a partner/investor with the cash needed to start off.

1.) If you are willing to lend money to someone, what are you looking for in a dinner?
2.) What are you NOT looking for?
3.) How likely would you be willing to lend money by the end of the dinner?

I'm working on a business plan as we speak, very detailed but what else could I do to separate and gain trust.  He knows my close friend but i'm just another face.

Thanks,

Kyle

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  • North Dartmouth, MA · Member since 2014 · 172 posts · 53 votes
    12y

    Also, if the deal goes through and partnership is accepted.  What is next steps? What kind of contract is signed so all members assume liabilities for what is agreed upon in the terms?  Sorry for all the questions!

  • North Dartmouth, MA · Member since 2014 · 172 posts · 53 votes
    12y

    Accidently added member invite text to this thread.  **REASON FOR EDIT**

  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    12y

    Well I would think your finance partner will only care about how much they need to lend based on what you will sell it for, your experience or track record, what financing rates or terms they can expect.  Most finance partners are hands off and will only look to make loan fees, monthly interest or in some cases a portion of the profit when sold. 

    Your money partner is the most important relationship as if not for them you would not have the opportunity yourself, make sure you take care of them and always make your monthly payments if that is how you work it up.

    You will use a closing attorney to draw up the legal documentation. 

    Good luck

    Curt Davis - KAIZEN Realty538 Reviews
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