Raising Capital - Overcoming a few obstacles (3 Questions)

[David F.]

My partner and I have a combined 10 years experience in real estate investment analysis and leasing and have decided that it is time that we start investing for ourselves. The only issue is that neither of us have any significant capital to invest and will be 100% completely dependant on investors to fund our first few properties. Here are the issues:

1)How do we overcome the question "why do I need you guys, I can just invest myself?" Essnetially our focus is on multiresidential properties working with our network of brokers. Ultimately most people we will contact would/should ask that question and say "I can find a broker myself and buy something similar, why am I giving up anything just for your two?

2) How do we work with brokers to begin with? That is, ultimately we are not the final decision makers and at best we would be characterized as "intermediaries". I know that brokers wouldn't be very accomodating knowing that they are going accross the city essentially showing properties to people that have ZERO say in the final decision. What can I say to brokers to help smooth that over?

3)Assuming that a partnership is not viable, but we present ourselves as property locators/consultants/(read Birddogs), what is a typical fee that we could charge for just presenting the property to them assuming that they close?

Thank you for all of your help.

Take care,

David.