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Updated about 10 years ago,
Ideas for newbies to jump start real estate investing.
As an experienced rehabber with about a million in equity on paper I'm finding it hard to get either private money or hard money funding to fix and flip. Newbies must find it nearly impossible. So I like to explore ideas to jump start newbies in RE investing. A thought I have is to set up a Joint Venture with a group of 5 or 6, primarily newbies and maybe some experienced investors, to get the first property to fix and flip. After 3 or 4 properties the members could start drawing out cash from profits to start their own individual deals. Each would need to kick in about $5000 to qualify for private lending, rather than the full $25,000 to $30,000 which for most of us is nearly impossible.
Any ideas on how to structure such a group and how to hold title, and the funds. I welcome your input.