HERE IS MY IDEA

[Michael Seutin]

What do you guys think of this plan?
I buy some mailing database of doctors, lawyers... I either email them or mail a postcard to ask them if they would be interested in getting 8% on their money backed by real estate, and set up a website where they can see more details about private lending and do it online. I would also get an attorney to write the contracts and mortgages. Then I would simply use their money to buy rentals for myself and pay them over 10 years or 15 years.
Any suggestions, comments?

[Brian Levredge]

Aside from the obvious and what's already been stated, I think you would be more successful if you have already developed some type of track record of proven success. Doctors, attorneys, and other high net worth individuals are usually pretty bright people. Why would they want to give their money to you, a total stranger?

I've been building a private network of funds for the last 12 months or so and I think you'd probably be better off starting with friends and family, developing some success, an then branching out to friends of friends/family, and so on.