How to find an investor?
August 6, 2015 1:52 PM Subscribe
A friend/client has a project that is about 67% completed. Is there somewhere online (doesn't seem kickstarter appropriate) where people can solicit for an investor?
He asked me to help search online... and I've found a lot of places that will let someone invest (like those angel investor groups) but I have no idea how to present an investment opportunity to those groups. Surely there's a place where people submit them?
I mention that it doesn't seem kickstarter appropriate because I've never seen something like this on any sort of kickstarter or gofundme kind of site. All of the heavy lifting is done (Permits, environmental studies, etc) and the project is 67% complete. Like you can see it on Google's satellite view complete. However tragic passing of a partner led to dried up funds. Basically only enough money to maintain what has been completed so far.
I did find goforfunding and will probably try posting there. Where else should I be trying?
He asked me to help search online... and I've found a lot of places that will let someone invest (like those angel investor groups) but I have no idea how to present an investment opportunity to those groups. Surely there's a place where people submit them?
I mention that it doesn't seem kickstarter appropriate because I've never seen something like this on any sort of kickstarter or gofundme kind of site. All of the heavy lifting is done (Permits, environmental studies, etc) and the project is 67% complete. Like you can see it on Google's satellite view complete. However tragic passing of a partner led to dried up funds. Basically only enough money to maintain what has been completed so far.
I did find goforfunding and will probably try posting there. Where else should I be trying?
A building? Call a construction firm or property developer in that particular field and see if you can find a client list. Client list is where you start calling.
posted by parmanparman at 2:08 PM on August 6, 2015
posted by parmanparman at 2:08 PM on August 6, 2015
Is there already bank financing in place? Because that would be an obvious source, or perhaps a way to get a reference to other investors.
posted by mullacc at 2:54 PM on August 6, 2015
posted by mullacc at 2:54 PM on August 6, 2015
Response by poster: Specifically he's building a golf course. There is no financing in place, it's all been self funded from my understanding. I was told that it was a general rule that banks weren't financing golf courses at the moment. (Maybe not true... I have no idea)
posted by one4themoment at 4:03 PM on August 6, 2015
posted by one4themoment at 4:03 PM on August 6, 2015
If you have all the entitlements in place and have a clear path to opening, maybe banks will consider a bridge loan. Start with local banks that have local commercial loan officers.
And maybe a commercial broker like CBRE or a local shop? Finding a co-investor rather than brokering an outright sale might not be their typical thing, but at least they'd know investors.
posted by mullacc at 5:25 PM on August 6, 2015
And maybe a commercial broker like CBRE or a local shop? Finding a co-investor rather than brokering an outright sale might not be their typical thing, but at least they'd know investors.
posted by mullacc at 5:25 PM on August 6, 2015
If they own the property the course is on, could they mortgage it?
posted by the agents of KAOS at 10:13 AM on August 7, 2015
posted by the agents of KAOS at 10:13 AM on August 7, 2015
Local business organizations, like the Chamber of Commerce or the Small Business Administration, often offer free advice to local business people. My local Chamber of Commerce had a program in which retired business people would volunteer to be free consultants, for example.
This seems like a problem that a local person might be better at helping with - even if the first person you ask doesn't have any ideas, they could start asking around and maybe find a buyer. So it might be worthwhile to try these organizations or do some networking.
posted by Surprised By Bees at 5:00 PM on August 7, 2015
This seems like a problem that a local person might be better at helping with - even if the first person you ask doesn't have any ideas, they could start asking around and maybe find a buyer. So it might be worthwhile to try these organizations or do some networking.
posted by Surprised By Bees at 5:00 PM on August 7, 2015
This thread is closed to new comments.
posted by ssg at 2:08 PM on August 6, 2015