Newbie Advice..

[Michael Baradell]

Hello BP world!! I would just like to officially introduce myself and post my first question! I am a Licensed Realtor in Louisiana. I service all of St. Tammany parish but I mainly concentrate in the Covington/ Mandeville markets. I feel I have come to know those markets pretty well and I feel they would be a great starting point for my real estate investing career as well. My desire to enter the real estate investing world has been one I've had for many years. Which is a big reason why I became a realtor in the first place. With that being said, here's a brief description of my plan. My plan is to be a buy and hold guy with the hopes of acquiring 5 homes in the next 5 years. I am not apposed to flipping, but for the most part my goal is to shoot for a solid monthly cash flow with with appreciation and building equity as a bonus. The issue I am having at this time is to whether partner up with people I trust, or to go at it on my own. I am going to start small regardless, but having a partner would obviously lessen any risks involved. Any advice on getting started would be greatly appreciated. Also, how would you structure a deal with a partner. For example, I will have the home financed in my name but he may provide the cash for down payment and rehab costs. If this is a hold property, how should this deal be structured. Thanks and I look forward to any and all comments.