What do you think of the idea of buying yourself into $$$. Say taking out quite a big loan to buy some quality websites? I'm contemplating taking a loan off a family member, but theres so much crap for sale, and dodgey deals it seems abit risky..
don't loan money from family or friend to invest..they are like you last line of defense. when you are broke, they are the only one who will loan you money. so don't borrow from them unless you have to
I wouldnt do it as it could be a major risk, you need to 100% confident that the purchased sites can return the investment. I personally dont buy anything unless I have the cash to buy upfront. Terry do you have a Credit Union over there? If so I would suggest getting yourself into one if you plan in getting a loan for business.
Credit Union is like a bank but is more geared towards getting their customers to save money. Lets say you save 20 quid a week into your account and then want to withdraw money to buy a present, they rather see you take a loan than remove money from your account. When it comes to paying back the loan they still want you to save the 20 quid a week so your payback amount is rather low. I found the site for leeds credit union so there must be one in your area: http://www.leedscitycreditunion.co.uk/ Unlike a bank you cant just walk into one and open a account, you usually need to be refered by another customer. Ask around and see if you know anyone who is a member, they are 10 times better than a bank.
Money can make people act funny so unless you want to put your relationship with that family member at risk, I wouldn't recommend it, however if you can find someone else to lend you the money it would be better.
If your idea is good, you will get sponsors straight, you dont need to put in funds with loans. a good plan and presentation, forcasting to sponsors will make more sense.