Raising Capital for JV

[Justin Elliott]

Hello BP Crowd I’m in a Minneapolis and in the market for a 5-20 unit. I’ve just got done with a refinance of a 3 unit that I was able to pull out $65k from after purchasing in May. I would like to add value to a 5-20 unit but I need partners. Since I’ve never raised money for a deal before I don’t know what I don’t know. From initial conversations the people I know that are potential investors are not very excited about buying right now. My question is how can I add value to these more established investors that don’t “need” to invest. What can I present to them that might build my credibility. For example if I came prepared with the details of the deal I just finished to at least show them I’m not a complete newbie would that be valuable or would that come off as naive because it’s not the same type of investment as a 5-20. For those of you that may have partnered with an up and coming investor (read less experienced). What made you believe in those people OR was it all about the deal that they presented? Anything helps. Thanks! Justin