Me and a friend are looking at acquiring our first development project. We have 8 million pledged by one investor, and are still in need of 2. The land we are looking to acquire is in SW Ontario off the market and is owned by a family friend. We plan on building 50/50 condos and homes.
My main question is what is the best way to go about raising the remaining capital? (hitting up all the investment firms in Toronto?)
In addition, would it be wise to have an NDA before sending out the teaser to potential investors?
I thank in advance anyone with any relative advice.