Please review my proposal to private money funder

[Joe Sauers]

Hello all,
I am in the process of trying to structure a deal to present to a private investor. I have found a multi-use income generating property worth 900K, and believe I have a chance at it around 400K due to the current owner's financial situation and life events. I have 100K of my own to put into the deal, along with perfect credit history, and a good reputation with the private investor I am about to approach. I am in search of 300K. I was going to propose 10% interest and 7 points, which, if my math is correct = $51,000 profit for the private lender. That would be a 17% return on the investor's money. Based on what I have read, it seems that this is inline with what a lot of private lenders are looking for. I have the mindset that I need to offer a healthy return to receive that amount of a loan on our first deal.

By the way, I have prepared an ''investor's packet'' on the property showing all of the details, including a detailed financial analysis, pictures, my personal credit report, a personal financial statement, a statement of my experience, and a case study of another similar style property that I successfully rehabbed.

If I approached one of you guys with that proposal, what would your reply be?

Do you think I should reduce my offer going in, so I have room left to negotiate up?

Thanks in advance, Joe.