Raising money-Best Practice

[Canesha Edwards]

I have a couple of development deals I’m considering putting in offers on, I’ve done the research and I’m confident if I buy the land at the right price, these would be great developments. The problem is, I don’t personally have the money to close on the land. I’ve put a lot of hours into the deals and for the ground up developments, I’m working with my architect on plans and obtaining all permits, which I’m personally financing.

My question is, how do I got about raising the money? The developments are too small for out of state investors. I have private money sources that I could pitch the deal to but I want to make sure I’m within the laws and regulations, which I’m not to familiar with. From my understanding, I don’t have to file anything with the SEC if the money comes from less than 5 people, and all of the investors are local. Is there anything else I need to consider?

I would like to have financing in place before I make an offer. Or should I make an offer and wait for the money to follow?

Thank you for all advice.

Best,

Canesha