Dear Investor, what do you want?

[Dominic Carafa]

Hello!

Quick background on myself, I'm 39 years old, a residential contractor of 20 years. I currently own 1 investment property which I purchased in 2005, it cashflows $600mo. I have opened a separate  llc. for aquiring property. My goal is to purchase and renovate properties to hold and rent for the next 20-25 years, then begin to consolidate them until the remaining properties are owned outright. 

 I have 2 retired executives that are open to investing with me, whom I have mutual trust with, one of which is considerably involved in RE (syndication, out of state re, multi fam, etc). I had my first meeting with them and presented my goal in conversation. They quickly pointed out that I didn't have a defined business plan yet and wasn't presenting them with tangible opportunity, essentially we trust you, but show us how your not going to lose our money. They asked if I was looking for lending or partnership? I said lending. Let me invest x amount for a 6mo period at 6-7 percent and get it back to you in 3mo. They said it would be too much paperwork for the return. They actually prefered partnership or to share equity in the held property. But in flipping, investor money goes out and returns relatively quickly so what they're saying doesn't totally make sense.

I wonder if it would be better for me to secure higher interest lending but solely hold the properties versus giving chunks of the equity to my investors. They also asked about "skin in the game". I have a home eq loan I'd be willing to use for renos if they could purchase property. 

#1. SO.....I have 2 qualified investors. I have expertise in construction. I have found a few deals that look like they would cashflow as rentals post reno. What can I offer them or any investor that would make them want to work with me as well as accomplish my goal of aquiring and holding properties long term.

#2. Also, what would that look like in terms of a business plan?

Thank you!!!!