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Updated about 1 year ago on . Most recent reply
![Lucas Ferris's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2907617/1703963093-avatar-lucasf65.jpg?twic=v1/output=image/cover=128x128&v=2)
In need of that initial boost onto my feet and watch me run.
I have had mentors in the past & I have built houses & condos up to 8 units before. But it was under someone else’s financing. I have worked towards this point my entire life and I am more ready and more willing than anyone I’ve ever met. I have drafts 3d renders excel price sheets ,land picked out that fits in the budget, a crew I’ve worked with for many years, my downpayment is no where near the regular $300 000 expected. However I can have a good co-signer if needed. I can promise you that there is nothing that can stand in my way, if you allow me. After a short conversation I’m sure you’ll agree. I have an 8 plex I can complete for 1.24million with with a total outcome at the lowest possible amount of return equaling $4, 675, 000 I can accomplish this goal in a total of two years including purchase of land until the loan plus interest can be paid in full.i can also meet all the requirements of cmhc to fund my project the only missing piece is I need someone else willing to lend me $1 million. I am willing to pay a large amount of interest on the build to someone who is willing to extend the time period, allow me my irregular finance. Although I have other plans that can be completed with a downpayment I’d be able to afford. T his is my preferred choice we can all profit most from. The land I’m interested in is on Vancouver island if there is anyone out there willing to help me get my start in bc I’ll greatly appreciate it.
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![Zorya Belanger's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/383967/1650839101-avatar-zorya.jpg?twic=v1/output=image/crop=1024x1024@0x8/cover=128x128&v=2)
Unfortunately, this isn't an effective way to raise capital, as you can see from the lack of responses. Have you talked to a mortgage broker that works with private lenders? You mentioned you have other projects that you could do that you can afford. Maybe do that first, build a track record, and then reach out to people who already know you. People invest in you more than the deal itself, and this post doesn't say anything about you. They need confidence in the execution. I teach investors in Canada how to scale from residential to multifamily, including the raising capital piece.