Learning/Planning/Educating - Input/Guidance requested.

[Anthony Martin]

Hello BP!

I've been browsing this particular forum for quite awhile trying to find an educational foundation.  I've never been the best student when it comes to book learning and it takes a lot for things to sink in sometimes.  I currently hold two SFRs that are occupied and are bringing in a small cashflow (not quite 1%ers, but better than breaking even).  I know that the income really comes from multi-family units and I am looking to get involved in apartments.  

I have started researching the economics for Georgia and Texas on more of a macro scale trying to decide where to begin diving deeper.  My biggest hesitation is bringing in outside money and how to build deals.  From raising money to the more intricate (to me) returning money to investors and managing everything to benefit others.  

I can search LoopNet and try to analyze deals all day, but even if I find a deal, I'm not quite sure on how to pursue it.  So far, I have a few folks who are financially stable that are interested in contributing to my first venture.  I know I'd like to find a unit in a B- area with more than 8 units.  The two other folks I'm working with, and myself, were working on coming up with what we could afford with our capital on hand and it's quite restricting if a seller accepts 20% vice 25-40% down.  That would limit us to a property most likely less than $400,000 and those options aren't necessarily bad, but most don't meet the B- area - most are high crime or middle-of-nowhere.  Bringing in more people will decrease potential for investor returns, but will give us more options for larger properties, right?  

So, I'm trying to figure out how all of it works when you bring in other investors.  Again, sometimes things don't click very easily with me, so if anyone is willing and patient to break it down to a kindergarten level and help us learn and improve our capabilities, please pitch in.  I'm incredibly excited to bridge the gap and extend my investing knowledge and path towards financial freedom to build up enough F U Income to quit my job.  Thanks in advance and I look forward to all input!

Respectfully

Anthony