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Canadian Angel Investor

QUOTE (StephanieCox @ Jan 27 2008, 08:43 PM) Has anyone used Canadian Angel Investor (http://www.angelinvestmentnetwork.ca/home) website to help raise money for real estate investing?
I was wondering if it was a good source to meet up and form a JV.

Hi Stephanie,

My partner and I did this in `05, through the Alberta venture group (formerly known as the Kieretsu group).

We jumped through all their hoops... you have to submit a business plan, then you have to come in and pass their `entrance interview` which is basically a boardroom full of very monied self-made business people firing questions at you. At that point you can then present to the group... another 50 or so very well off people.

When we pitched these guys they told us that they let in 1 business plan for every 20 they recieve into the first interview, then about 1/3 of those get to move on and then of the entrepreneurs that go in front of the big group maybe one in five will get funded.

We went to them with the idea of purchasing bungalows between crowchild, center st, memorial and 16th ave here in calgary with the thought of holding and redeveloping into infills in the future. We had great numbers and everything was backed up with the best fundamenta jargon I could put together. No one could (or did) argue with what I put in front of them... I spent months getting ready and that part of it paid off.

However we didn`t end up getting funded... but got a lot of great feedback. Reason that they told us was that the people investing in these things have their `real estate guys` already and they all already own lots of property. They are looking for `home run` type investments they can take a flyer on... something sexier than buy and hold. These are *very* sophisticated investors and don`t need to play it safe with the money they devote to this type of thing. I shook the hands of many people that could have written me an 8-figure cheque on the spot. Some of them told me `you have the right idea just stick with it`. So that`s what we`re doing!

Anyways we`ve been called by them to see how we`re doing and to come back if we have a different re-development idea. We may yet do that if one presents itself.

My advice would be to keep it closer to home and work your network first and then move on from there.

Good luck!
 
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