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After speaking with many real estate industry professionals about how to raise money, here are my takeaways.
1. It is all a numbers game. So to start, make a list of the people you know, and who knows you best. Then make a list of people who knows you outside of family and friends.
2. Call them and let them know what you are doing.
3. Make a list of people within your career field and repeat step 2.
4. Gather phone numbers and emails to follow up with them.
5. Do not try to pitch them or make it seem like you are a salesperson, you are only letting them know what you do. You are just getting a feel for whose interested and whose not.
6. Keep them updated with your progress, and build a good team around you.
7. When you have a potential investment opportunity, reach out to your network and see if they are still interested in investing with you.
8. Speak with an experienced attorney in order to make sure you follow SEC guidelines.
9. Repeat this process along with getting out and networking with likeminded individuals.
10. REMEMBER it is all a numbers game.
Bonus: Do you know or could you find at least 5 people to invest $25k to $50k with you?