Raising money (I need help)

[Alex Jamael]

My business partner and I just received confirmation of financing on a deal as part of it we have to come up with $50k PML for the down payment. I have formed a list of people I could see helping me make this. We are offering a 7% return on a 3 year note and could probably secure it on another property we have equity in. Any tips on asking people? Friends , family? 

[Joanne Eriaku]

Hi Alex, my advice for you would be to prepare a solid investor packet for them, regardless of relations: friends/family or Hard Money lenders, show them how you will put their money to work for them, the investment strategy and how it works, allay their fears by addressing risk, how you are protecting them and what your risk mitigation strategy is, Breakdown the deal for them and Address the benefits of why it is they should invest in you and your system versus keep their money elsewhere. That's what I would advise.