Investing with your pals = much simpler, hire a good attorney and form a partnership of some kind.

I have yet to get my first investment, but I know that I want to build and want to understand the processes to form a general business plan going forward. 

Form a partnership with someone who has the skills or resources you don't!

Heck, most of the rental properties for sale give me a "Pro Forma" of what rents "could be".

If you going to create a pro forma for the subject and cap out the income, I would base the leagal and professional/ leasing on the history of the property.

Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors Require you to close before a tenant is in place

Hello all,I'm looking to form a business with a physical presence in Wyoming, then purchase property there sometime later this year.

I have come up with in my pro forma about a 10+ cap, which flat out does not exist in today's CRE market.

Do I use a pro forma statement format and send it to them?

Do I use a pro forma statement format and send it to them?