Understand the basics of private lendingResearch real estate marketsDetermine your investment strategy and criteria for loans, including:- Amounts- Interest rates- Repayment termsCreate legal documents with a lawyerNetwork with real estate professionalsPerform due diligence on potential borrowers and their projectsBegin with smaller loans to gain experienceMonitor your investments closelyConsider joining a private lending group for additional resourcesStay informed about real estate trends, lending practices, and legal regulations

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

: I understand that there is commercial and residential, but there has got to be subgroups While I don't think you need to niche down immediately, some specializations in residential RE are:- Co-op- Condo (incl. luxury)- SFR (median pricepoint)- SFR Luxury- MFR- RentalsThere are a ton of commercial RE specializations including retail (various types), restaurant, other food/bev., warehouse, storage, and dozens more.What should I expect when first coming into the profession ?

Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.

If you don’t have the parcel’s block & lot #, you can use the street name & # to pull up public record docs including deeds, liens, violations, etc.

If you borrow against the equity, you'll need to include that payment in your calculation, as well.You make 3x the average income for Pennsylvania at the age of 32.

Not sure if you're still looking for help since this was 3 months ago.You could include something in the provisions regarding maintenance in your rental agreement.

The LLC is a pass through entity and will show up on your personal Schedule E and once the property shows up on the LLC, the debt (that probably won't show on your personal credit report) will be included in your total debt. 

I am interested to get feedback from certified appraisers on whether a cabin on leased forest service land would be a comp for a cabin that includes ownership of the land.

He finished the kitchen demo and removing all the carpet including the tack strips.