Investing

[Damian Meak]

Hi. 

I'm trying to create an investment group with my friends and family. Any suggestions or any material I can read. We plan on putting money in a fund monthly to buy multi-family homes in Essex County New Jersey. 

Thanks 

[Gilbert Dominguez]

I might suggest you first have a few fun meetings to discuss the benefits of real estate investing and get people on the same page as far as education and understanding of using real estate as wealth building and retirement planning, something everyone should be concerned about. Once you are somewhat  or in complete agreement start learning more in earnest about where and what properties would produce good results and be honest with yourselves, learn to look at it as a business. When things go wrong if they do go wrong its always very personal when it comes to friends and family. Emotions can run high, great if things turn out positive but very bad if things should not always turn out well. 

Hopefully others in your family are already into real estate or in construction. Start to get yourselves exposed and discuss different strategies and different properties. Do not start until you truly have sufficient funds and make sure you keep a reserve to be able to deal with contingencies or unexpected expenses. There are usually allot of books on real estate investing at any bookstore, chose some you would like everyone to read, discuss them among yourselves to create mutual understanding. Do not go for the no money down, no credit schemes you will have plenty of time to explore those later. Remember to protect each other at all times and do things comfortably, do not create stress for each other or worries. Wait until you really have enough or more than enough money to fund the projects you will select to invest in. 

Good luck I hope you plan works. Its great to think about it but very difficult to do in general and it can even be harder with friends and family.