Quote from @Melissa Stanley: I’m hoping to purchase a few properties with a friend/business partner but after meeting with a lawyer am even more confused.

It’s always fascinating to meet investors, learn about their careers, and hear how they got into real estate.Do you focus solely on STRs?

These gatherings are a great way to meet wholesalers, flippers, and other investors willing to share their knowledge.Offer to add value.

The interest rate is 7%, so we suggest this property is for someone who wants to get into Lease Options and meets the other requirements such as adequate reserves and credit.That means, they buy the property, they wind up with $50,000 in equity and they do a Lease Option to a buyer who doesn't currently own a house, but wants to.

Meeting a 20% down payment to avoid PMI seems manageable, although would take a big chunk of my liquid net worth, and I prefer this route over using an FHA loan.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Happy to help in any way I can, and certainly looking forward to meeting many of you!

Specifically:Licensed and Insured Contractors:Strong experience in fix-and-flip projects is preferred.Proven track record for meeting deadlines and staying within budget.Interested in building a long-term working relationship.Real Estate Agents:Knowledgeable about properties in Chattanooga and surrounding areas.Skilled in identifying high ROI opportunities for fix-and-flip projects.Open to partnering with an investor for repeat business.If you or someone you know is a great fit, please comment below or send me a direct message.

I would love to meet any real players in the area who would love to pay it forward and help someone green like myself.

It's a great place to meet people and learn.