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Updated almost 10 years ago on . Most recent reply
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Partnership with a Novice Invester
I am new and I have no idea where to start. I am willing to do all the work if an experienced investor in Houston is willing to take me through the steps of closing my first deal. I am willing to split the profit 60/40 (you/me). I am seeking to use other people's money.
Most Popular Reply
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If you are brand new, most investors will not be quick to fund an entire deal for you. Everyone likes a little skin in the game.
I would focus your early stage funding with friends and family, I would also add another 10% to the stake of the investor in question. 60/40 is a good term for someone with a lot of experience, but you're looking to get started. In the worst case, I would even do an 80/20 deal if it meant raising vs. not raising $.
Even the best people I know got started within their own friend and family networks. It can be difficult, but it's about the only way to build credibility without your own funds.