Raising Money via Broker-Dealer

[Tony Bishop]

We have two projects (87 townhome pads and 147 single-family home lots) that we are ready to raise money. The land is under contract and we have started the zoning approval. We have LOI from a builder on the townhome project. The townhome project --we need to raise $2.5M. The single-family deal-- need to raise $4.8M. First-time syndicator with 30 years experience in similar projects (land development).

The question is what is the best way to raise money? We are prepared to raise via our current contacts but have started discussions with a broker-dealer that said they may be interested. Any negatives of using a broker-dealer? Or is it better to raise money ourselves?