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Updated about 1 year ago on . Most recent reply

User Stats

7
Posts
3
Votes
George Plasencia
  • Homeowner
  • Westchester N, Y.
3
Votes |
7
Posts

Newbie I am lost. I know where I want to go but idk where to start. Saw

George Plasencia
  • Homeowner
  • Westchester N, Y.
Posted

First of all Hi everyone, I am so exited that I found you on this website. And that I could learn, and be part of this community. 
Like I said I am new at this and I don’t know where to start. Where I can find my answers and the right direction into this journey. 
to begin with one of my questions is. 
How do I structure the legal paperwork and the right way to start raising money? 
if someone can breakdown for me I would truly appreciate and return the favor one day . Thanks 

Most Popular Reply

User Stats

955
Posts
1,977
Votes
Travis Timmons
  • Rental Property Investor
  • Ellsworth, ME
1,977
Votes |
955
Posts
Travis Timmons
  • Rental Property Investor
  • Ellsworth, ME
Replied

Don't take someone else's money until you have actual, first hand experience. You don't know what you are doing yet and have not proven yourself to be a good operator. It's not a good idea to get an on the job education paid for by a family member. If you have a rich uncle or parent that just wants to help you out, sure, go for it, but if a family member is diverting money from savings or another investment to purchase real estate with you, that's a bad idea. 

Would you give your money to someone that posted in an online forum "I am lost and idk where to start?" I would venture to guess that the answer to that would be no, and until that changes, you don't need to take money from anyone, much less a family member.

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