Hello BP members!
Okay, last time I posted a question, I was looking for help with my forst wholesale deal. That was awhile ago and I just wanted to pop in and tell everyone what I am presently up to.
I approached a couple of local investors about them possibly being added to my buyers list and I ran into some road blocks. They were very skeptical since they have never heard of wholesaling and asked me questions about who I'm working with, am I licensed, and yada, yada...
After running into that, I thought I would safeguard myself by starting my own buisness, Higher Heights Real Estate Services LLC. I am continuing to educate myself, I have a website, and am just trying to network as much as I can. I have been looking for properties using a realtor and am on my way. I do have a couple of questions though.
1.) I got an e-mail from an investor who says he wants to invest in my business. He wants to see my business plan and I asked him what he wants in return and he said an equity position. Now, I have an idea of what that means, but can someone with more experience explain?
2.) My buisness plan- Should I assume that he wants to help with the whole business venture or just wholesaling? He wasn't very specific. My company offers a variety of services, should I just put all of the services in the plan? I guess I just need help deciphering how much to ask for. What I really need is a partner to join me...should I just say that I would prefer that?
Any and all responses will be helpful :D
