Posted by John Merchant on February 04, 2008 at 12:48:22:
You could quickly get the opinion of TX Sec. Commission with a phone call.
Personally I’d change the wording to say: “Looking for a Real Estate opportunity? We’ve got a great one for you…call (xxx)xxx-xxxx”.
If/when you get 2 or more who’re interested, most any lawyer could draft an LLP for you where you’d be the managing partmer and the other guys would be Ltd partners, with their liability limited to their investments…then use that LLP to buy & build your houses.
Probably easier and more effective to make a list of all the apparently more prosperous people you know and commence a’callin’ them to see if you can generate some interest with them.
Truly amazing what “hidden” funds there are out there that you’d never know about since they aren’t advertising it and may drive old cars and live in a less than Zillionaire’s house…a la “The Millionaire Next Door”.