To Form A Business Or Not
I currently have 15 properties and have fixed up and sold several others to keep the cash coming in. Anyway one thing I have noticed is that as I have gotten better at doing this RI I have people asking me to do investing with them. Also with so many TV show pushing the fix and flip your way to riches I find myself wondering if it is a good idea to look at starting an investment business. Has anyone done this? If so would you share your stories with me (us). Thanks for the help.
What is going on is that I am being approached by friends and family who want in. I am a little scared to risk their money. I would like to have a company that they can buy into and be a part of. So is it better to do this as an individual (like I am doing now) and give them a return on their money or have them be part of and work for the company? Thanks again for the help.
You are talking about creating a Reit (Real Estate Investment Trust). Your trust would be privately held and not on the stock market. go to www (dot) nareit (dot) org for in depth information.
I started out trying to organize one of these with 23 people but when it came time to cough up the cash they dropped the ball.
Was it hard to start?
That is a good point. However sometimes 2 heads are better than one. I have done one deal with my best friend. He put up the money I did all the work. He had some extra money he needed to invest. He had never bought an investment so I did it as a favor. So far it has worked out great. We are selling it on a contact. I look to do ok. I do like doing it by myself but the division of labor helps out. Anyway thanks again for the input.