How to raise seed money for a real estate business

[David Reo]

I'm looking to raise money for my wholesaling business, and I would like guidance on how to go about this. I just finished reading "Raising Private Capital" by Matt Faircloth so I have a couple ideas. 

Right now I am looking into a structure like this:

-Borrow from an individual with an IRA -> convert to a SDIRA

-Make loan interest and principle payable at the end of term (because it's an IRA)

-Structure similar to a construction loan with monthly drawdowns of about $5k for the highest probability of success with direct mail

-Possibility for an equity component: pledge a percentage of profit along with normal interest in the promissory note (a joint venture)

Would this be attractive to a potential investor considering I am wholesaling in California and the average fee is $15k-$20k on the lower end?