Hello Gurus,
I am a newbie from chicago area.
I am interested in getting started with rehabbing/lanlording business.
Can you please advice what is the best rei club i should get intouch with where i can find a decent partner. As I work on my regular job which send me travelling across and away from home…
Also Can any one point me to a place or direction how to verify the credentials of a person or a company who is offering partnering deal.
altered due to rules violation
i think you should take advise of some local business personnel.
Here are some local REI clubs in your area:
http://www.reiclub.com/real-estate-clubs/Illinois.html
When it comes to checking credentials, it depends on the type of deal you are doing. You would normally only do that if you are loaning money to someone else…and I would highly advise against doing that since you are just starting out in the business. Hire a lawyer to do that if you are anxious to give your money away to people for deals. If someone is loaning you money, I wouldn’t worry to much about checking their credentials beyond shared contacts, but you will want to make sure any documents you sign are fair and legal. You can avoid ALL of that by just doing your own deals…which is what I would do in the beginning.
Good luck!
+1 for doing your own deals.
When your interested in rehabbing and landlording over a certain property, You can create checklist and evaluation to which your property can hit and is able to stand. looking for partners with good credentials is not that easy but it’s a good option to stick to some referrals.