NEED Advice on Getting Private Money For Flips

[Kevin Peguero]

So I've been working under an investor/mentor who does an average of 30 flips in the LA/OC markets a year. I've learned the ins and outs to a flip and what it takes to be successful in real estate. I've listened to many many podcast and have read dozens of books. I've learned (Cost analysis, Comping properties, evictions and cash for keys, acquisitions of property, repair cost, market knowledge, real estate jargon, talking with sellers, and I've been working as a realtor for the last 2 years). So I've been in the trenches and taken action. With all that said, my mentor does it because of one person who he has a good business relationship with who has all the money (private money) The private money lender has a no-hands approach and gets his percentage on every flip while my mentor handles the acquisition, flip, and sell of the property while making money on the front and back end, and some of the profits. I plan on pretty much following this path and have set up a meeting with a friend of mine who has lots of cash (private money) and wants to invest in RE. I mentioned what I do and he was interested in what I have to offer. I feel confident that I can do this on my own now and want to go full speed ahead working the operations of this partnership. I was wondering on your thoughts as too what I should have prepared for the meeting and how my pitch should go when talking about private money, terms, and how everything will go and set the expectation from the beginning. Any thoughts would be great. Thanks!