Private Money - What to do when you get it...?

[Randy Hunter]

As I look for my first investment property, I know I don’t have the cash for a conventional loan and my plan is to raise private money. I feel like I understand the ins and outs of that approach but what I’m still unsure about and feel like it’s the most important thing is, when I have someone ready to invest with me, let’s say 100k, how do I actually get their investment money? I know they won’t just hand me a briefcase of cash or write me a personal check.  The cash is likely in a retirement account or a maybe just a savings account. But I want to be able to tell my investment partners exactly what they need to do. Or what their options are to be able to invest in my deal. 

This question would be for when I have a specific deal that’s ready to be had or if someone wants to just invest in my business for when the next deal comes along. Any help would be wonderful. Thanks!