Generally, you can say you are planning to form some group investments for future multifamily acquisitions and would like to get to know others who might be interested in learning more about group real estate investing.
Then, you need an established plan of how you will follow up (and start the “dating process”) with people who express interest.
First date should be to get to know them (their goals; their financial qualifications, etc.) and general information about what you are doing. It should NOT be a sales pitch.
Subsequent contacts should be to provide educational information (not offers to invest) about the type of investments you are planning to do.
After a period of time has elapsed, you can contact investors one by one and talk to them about specific deals.
You must keep records of each contact and what was discussed or provided.
Here is the order in which to do things:
- Meet and get contact info.
- Interview and prequalify.
- Follow up/educate.
- Then. make offers.
This all has to happen over a minimum period of time (30-45 days) during which no direct offers are made, and should NOT happen after you have a current or contemplated offering.