First time using Private money

[Jereme Peltier]

I have found 14 duplex in South west FL. I found out today that my conventional loan was declined for $680,000, now I am dealing with a private investor. This is the part I don't understand he is asking me for a PPM ( private placement memorandum) and a security offering. Is this common practice. And if so where are good resorces to find out how to file these docs. Thank you in advance for you response, I need all the help I can get!!