Your advice has pitfalls as well.

What are the pitfalls?

I am hoping to meet some people here that can give some advice on properties, rehabbing, pitfalls to be careful of with lease options, and finding financing.

The people along with other qualified professionals, ie....attorneys, CPA's ect...can be of great assistance--and often time help you avoid pitfalls and stay out of trouble.

I have a good pre-construction deal worth looking into it........while it would be impossible to caution you about all the potential pitfalls of preconstruction, I would advise that you have an atty look over your contract before you sign it.

Please share comments or any pitfalls to avoid.regards,

I look to everyone's collective knowledge to ask if there are any pitfalls I need to make sure to avoid with a land contract.

We researched starting an LLC vs. an S-Corporation or both and the benefits/pitfalls of each entity.

Instead of gaining your experience through the “school of hard knocks”, consider these solutions: SOLUTIONS Just because there are potential pitfalls and scams in the preconstruction real estate industry just like any other, you can still find great investments and great help.

Now education can help you avoid some of the pitfalls on the way, but its going to be long rough ride either way you go.General recommendations of books, I would say Robert Kiyosaki's Rich Dad Poor Dad, and if you truly have what it takes, read Og Mandido's The Greatest Salesman In The World.