How Do I Find An Angel Investor Or Something Similiar
Is it possible to find a loan for an opportunity I have to invest in a luxury residential development project?
I would like $100,000, interest only, at 10% for 3-5 years. With a balloon payment of $150,000 with no prepayment penalty.
A family friend is opening his deal (which is one of many for him) to make his friends some money and get to work with them. Is it possible to come up with this type of loan? And from where?
Any help would be greatly appreciated.
The simplest way is with people you already know. Friends, Family Business People. You can also try the Go Big Network or try a direct mail campaign.
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Matt Buckels
[ Edited by commercialking on Date 02/27/2008 ]
Quote"A family friend is opening his deal (which is one of many for him) to make his friends some money and get to work with them."
Can you explain more about this deal?
I agree 10% 3-5 years is not very attractive to an outside investor.
Thanks!
What would the loan be secured on ?
Well, I see where you are looking at this, but remember it is from the eyes of someone who does not have 100k, and wants to get it. Remember that the person who has 100k to lend, there is a reason they have it.
It was not by putting their money into a potentially mid or high risk venture, all their money and profits controlled by other people, and from what I can see, totally unsecured, for 3-5 years.
So, like has been suggested here, if someone called you and wanted you to give up 100k, what terms would you suggest? What would you require to secure or collateralize the loan. And really look at it from a lenders eyes, not your own. It makes a difference.
So now, think about what would REALLY make you jump into a deal like this if you had 100k. Remember that these guys get proposals all day long looking for the use of their money.
im looking for money for two deals all commercial
2,7 mil 12-14% 4 pts 2-3 ball, 12 mnths interest hold back.
2 million 12-14% 4pts, 2-3 ballon, 18 month interest hold back
call don 360-920-6304
need 30 days fund