How to approach family & friends for Private Lending

[Shantese Skrine]

I recently approached a long time friend who has a little experience in real estate. His response was "im never dealing with real estate again!" I know he has the means to be a private lender. Which comes to my question. How should I approach him without being a pest? Dont be to hard on me guys Ive never done a deal in my life & I dont have a property to even present to him...yet! Thanks!

[Brit Foshee]

@Shantese Skrine

I'd really hesitate to take friends/family money until I had a decent track record.  I'd recommend doing some deals along side an experienced investor. I'd document everything and then present it to friends and family on paper.

Seeing it on paper makes it more tangible and factual.

When people first approach me regarding money, (unless I know them) I want to see everything in writing.  Just my two cents!

Best of luck.