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Updated almost 6 years ago on . Most recent reply

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William P Engels
  • Specialist
  • Wichita, KS
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I’m nervous to bring investment business plan to family members.

William P Engels
  • Specialist
  • Wichita, KS
Posted

I know a few family members would possibly want to get involved. But I feel terrible and weird to go to them to seek investment. How do I get over this?

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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

Then don't do it.  There can be serious consequences (losing more than just money) of investing with family and, if it's not obvious and organic, then I would suggest that it's risky for both parties.

IMO, if you want to invest with family, the best way is to invest on your own first, establish a track record, and then they come to you.  Frankly, that is the best way to attract private investors regardless of who they are.  Good luck.

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