Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago, 02/02/2016

User Stats

22
Posts
6
Votes
Michael Haynes
  • Retail Manager
  • Chicago, IL
6
Votes |
22
Posts

Have potential private money investors, but I'm a newbie

Michael Haynes
  • Retail Manager
  • Chicago, IL
Posted

I've been researching and talking to anyone who will listen about starting to invest in rental properties for at least 6 months now.  I just found out that a family friend wants to invest with me as far as money goes, they believe in me and my passion to make the deal happen.

So far I've decided on an area, I want to do college rentals in a town about 90 minutes from where I live.I've been crunching numbers, but I don't have my team in place.  Where do I start, I know I need an attorney to create the contract for me and my investors, I know I need an inspector, a contractor, and I'm sure some other key players.  How do I find these people, in what order, and what do I say to them?  

I just want to start putting the pieces in place so that I can bring a solid deal to the table for my backer to get things started. Any advice on the order in which I need to build the team, when to file an LLC with my investing partners, and anything else that would guide me through my first deal.

Thanks! 

Loading replies...