I am putting together some brochures to solicit private investors in order to assist with the 20-25% down payments required in todays banking/motgage environment.
I am a beginner and have yet to use a private investor. I figured I can ask my attorney, but I though that I would try here first as I do with most of my real estate questions.
Does anyone happen to have an example of what the terms and conditions of the contract between a private investor and the real estate investor might look like? I know that each deal and ivestor is different, but I was hoping to find a reference point to at least get me going in the right direction.
Just before I read your posting I submitted the exact same question. I see that you haven’t gotten any responses yet, but if you come across something could you send it to me? I’ll do the same if I find something first.
I’m not sure why there’s no response yet. Has no one here ever used a private investor? I though this site was full of seasoned pros. HA!
I don’t even need specific numbers in the contract, just a starting point.
I thought I could save myself some money by coming to REICLUB, but I guess I will have to line my attorney’s pockets even more if I want to get some results.
If you plan to advertise to the general public, you will need an attorney and one that has experience with SEC regulations to draft your documents and prospectus. If you are not completely compliant, you will be held PERSONALLY liable for any investor losses as well as face fines.