private money proposal advice

[Edward Rife]

I'm new to investing so i have a few questions about startup.

1. how do i go about creating a proposal for getting private money i feel i would be more comfortable going after my first deal if i knew the funds was going to be available.

2. is it better to have an llc when trying to get private funds that way im not personally liable

3. can i get a ball park figure on average what the lawyer fees would be to set up it up because i'm on a shoe string budget(living paycheck to paycheck)

any good advice would be appreciated i feel like such a noobie

[Matthew Bennett]

If you're raising money from multiple private lenders to invest in real estate, I would consult with an attorney on how to set up the LLC. Reason why is that you'll need to understand how to structure the LLC based on whether they will be equity partners, or if they're simply loaning you money.

I would first figure out your strategy and then start putting the items in place to take in money when you're ready. Your strategy could be fix and flip, SFH, MF, office buildings, etc. Write down your goals and the strategy you will implement to get there then to the next step.