Inspired by this post...
Go to traditional means first:
Go to a local bank. Have your biz plan or your financials ready.
Present your case. Get your "no" Ask "why?" Improve your presentation. Go to another bank. Get another "no". Ask "why?" Improve your presentation. Go to another bank.
Didn't work?
Hard Money could work.
Or a HELOC (tougher in today's environment, but file it away for future possibilities)
Next, time to start expanding your network of associates. Join real estate investment groups, the local chamber, or help raise money for a not-for-profit organization. Start building relationships with people that may become future investors or business partners with you. If you consistantly build a network, before you know it you will not only have sources for capital but you will also have people bringing potential deals to you!
A funny thing about raising money:
If it is a great deal
the money will come to you.
If it doesn't come to you -
then it probably wasn't the deal you thought it was.
But YOU HAVE TO:
Go to traditional means first:
Go to a local bank. Have your biz plan or your financials ready.
Present your case. Get your "no" Ask "why?" Improve your presentation. Go to another bank. Get another "no". Ask "why?" Improve your presentation. Go to another bank.
Didn't work?
Hard Money could work.
Or a HELOC (tougher in today's environment, but file it away for future possibilities)
Next, time to start expanding your network of associates. Join real estate investment groups, the local chamber, or help raise money for a not-for-profit organization. Start building relationships with people that may become future investors or business partners with you. If you consistantly build a network, before you know it you will not only have sources for capital but you will also have people bringing potential deals to you!
A funny thing about raising money:
If it is a great deal
the money will come to you.
If it doesn't come to you -
then it probably wasn't the deal you thought it was.
But YOU HAVE TO:
- Believe it will happen
- Then get out there and find it.
- Don't give up if you don't find it at first.
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