is it legal to post a bandit sign looking for a pvt lender? or partner?
My concern is with the rules for promising something or not disclosing info that may get me in trouble later?
What must I disclose for such a sign?
thanks
Your concerns are valid, be careful or you can end up being contacted by the attorney general but it wont be about lending you money ha ha.
I suppose you can post for a partner without making promises or commitments.
Finding your first private lender can be a challenge, start with your closest circle of influence and network them. Maybe an aunt, uncle or extended family can help you get started. Also start to attend networking functions with financial type meetups, investor clubs and real estate events in general. Once you have started to gain success more lenders will find their way to you.
Jim
There are rules for what you can say. If you advertise for a partner but do not offer specific terms or promises you will be in better share from the regulatory point of view. If you offer specific returns or similar it could be a criminal offense.
As you mentioned bandit signs…
Do you expect people with money will contact you from a bandit sign? They might do so if they had a house to sell or they wanted a place to rent. To respond to a bandit sign when the sign might not even be in a legal location (hence the term ‘bandit’) seems much less likely.
Odd things do happen. I think Jim’s advice is a better way to go.
A long time ago I remember reading about a successful business person who bootstrapped their series of ventures by joining country clubs. He figured the people there have money and he was more likely to get to know them before he hit them up for money.