Hello. New to real estate investing. I would like to start an investment group with 4 friends from college, all with that same entrepreneurial drive. Obviously, cash to invest is limited so we would like to pool our money in order to meet necessary down payments. Looking at both rental properties and pre-construction.
I have many questions but to start:
- Any success stories out there?
- How would profits and taxes be distributed?
- Obtain a mortgage as secondary residence? I hear it is difficult to obtain mortgage in LLC name.
- Any examples of business plan?
I appreciate all your advice and expertise in advance. Thanks.
Paul