New to the site and also asking general questions

[Darvin Florian]

Greetings, I first want to stay how much of a good online community this site is honestly! Really good information for rookies. I am new into the real state market and have had a partnership opportunity to start a house flipping bussiness. As of now I have a solid network of laborers each with their own specialty of trades at really good prices, my partner, has been a contractor for over 30 years himself and managed many flipping properties and has a good understand about the industry. We will operate in the northeast Ohio region. I am only 21, but I have seen what real state have done for many and how many opportunities are there in this industry. Like I said, I am completely new to this industry and only have a general understanding. I have many questions so I apologize in advance if I ask any dumb ones, here they are. 1. Is recommended registering the business as an LLC? 2. Based from my research, northeast Ohio is a great area for this type of business with many opportunities in great areas, but I’ve also heard that the market is flooded. Can you still thrive in a market that’s flooded? 3. Investing and funding: how hard is getting price money lenders? My partner has a strong portfolio, will that help with investors see our value? And also how difficult is to get investors? Also, what are some other ways to get funded? 4. How can you tell the difference between a good and bad deal? I know that big factor is location, but also, is it recommended to have the opinion of a real state agent to see if the deal is worth it? Or what the potential revenue could be? 5. If investors are not available, is it good good to take a hard money loan? 6, why is that you cannot get a traditional mortgage loan for a flip? 7. How has real state changed your life? 8. What are the pros of this business? 9. What are some good tactics or bussiness strategy that you may recommend? 10. Is group investing common? For example, if the proposed project estimation total is 90K, can a group of investors invest 30K each, each gaining their fixed interest on it based on their contribution? ( or can it even be possible with more investors like 8 or so) As for now that is all I have, if there is any advice that you Would like to add please feel free to give it!