Group of 3 Looking to Launch REI Partnership via Wholesaling

[Doug Adams]

Hi All!  My name is Doug Adams. I am a PG County MD-based (Mt. Rainier, MD) infant investor with just one vacant lot "deal" under my belt (more on that that come via a sep post).

Myself and 2 other friends from high school are looking to pool small amounts of capital ($5K cash each initially), form a partnership, and get started with seeking a deal.  One of the guys has an interest in condos (he owns one in the Adelphi area of PG County MD), but we are also looking at single family homes as well where there is the potential to rent rooms.

Ideally as group, we feel that the in & out process of flipping houses makes the most sense from a group perspective. Minimize/eliminate long term deals &debt hanging over out heads.  But we know (or think) that in order to do this we need more hard capital.

So we've begun to look into wholesaling as a means of generating incremental hard capital to add to our pot, and as a great marketing, research, and team building exercise.

I understand that this is a lot but any insight on the below topics would be extremely appreciated:

-how well group investing in the fashion works

-how strong of a an option wholesaling is in the DMV (DC, Maryland, Viriginia) or Baltimore

-legal/due diligence advise in creating a partnership

-what investing as a partnership vs an individual means for financing options & incentives (first time buyer, etc)

-tiny home movement in the DMV or Baltimore, and how/if that increases vacant lots/land as a more viable investment

Thanks!!!