Is this appropriate and legal?

[Luke Diem]

Is this an appropriate and legal way to ask friends and family to help find private money investor partners? This is a message I would send to a group of my very close friends.. any advice or tips would help, thanks!!! "Hey as you guys know I'm looking for private money lenders. I would offer an expected 8- 12% interest rate which would mean if they invested $100,000 they would earn $8000-$12,000 annually (there are very few returns like that out there). And sure this comes with a risk right? The lender would be secured with a lien on the property. Now maybe none of you guys know anybody interested. But if you do I will offer a 1% referral bonus to you. if you find a lender for $100,000 I will write you a check for $1000. Just keep this in mind and talk to people, you never know… also keep in mind everything will be done legitimately through a real estate attorney with contracts."