Raising Private Money For A Beginner. The Right Way!

[Kwamena Odum]

Hello BP,

I am new to REI and running into roadblocks getting finance for my first deal. I just contracted my first deal (a great one I might add) so I have no previous deals to refer to and obviously no credit to fall on. I have just been invited to a local REI by a fellow church member and RE agent. She and her husband just joined the group and invited me in so I am set for my first meeting.

As a newbie, can anyone please suggest the best way to approach the professionals and not destroy a good opportunity? What can I say/ask that will not be a securities violation but at the same time will attract the listening group? What tools can one use to put together the picture of the deal for later discussions with interested parties? I have no previous investments to fall on. It's a lucrative deal so I want to present it well so as to attract attention. 

Also, on a side note, as a beginner, if I also wanted to raise start-up capital, is possible? How do I do that? What's the best way to do it? I appreciate all advice.

Thanks for all your advice in advance.  

Kwame Odum.

[Kyle Karges]

@Kwamena Odum You can definitely talk about how you need money it just needs to be for a specific property. There should be plenty of people with money at your local REIA so just tell people that you have a deal under contract and that you need a money partner. Let the deal speak for it's self. If its a good deal and you present it to someone with money..they will jump on board. If nobody will then it wasn't really a good deal. You can not collect a pool of money for future deals. You can collect names of people that have money so when you find the next one you can email it to them right away. Good luck!