Hello All,I'm new to BP and wanted to introduce myself as well as hopefully get some advice since I am just in the beginning stages of pursuing REI.I work as an engineer and am currently enrolled in a MBA program at the local University.

In the beginning stages of raising funds for a student housing development project, but am curious to know what are the different methods investors are paid.

If not, find the deals, represent the buyer and ask to be in the planning and development stages to learn.Another thought, take yr commission earned and kick it back to the developer, getting that commission, pls perhaps some interest or equity on the backend which the provision that you stay as part of the deal to learn the ropes.

Here are some steps to get started.Step 1) Develop your Business Model (Who is your ideal seller, buyer, neighborhoods, etc)Step 2) Build a Team (Leverage their experience, Realtor, Attorney, Contractors, Surveyor, Home Inspector, Environmental Contractor, Architect, Structural Engineer, Stage, Photographer, Title Company, etc)Step 3) Understand your market like the back of your hand (Have a Realtor set you up on HOT SHEETS so you get automatic listings sent to your inbox and you can start getting a pulse on the market)Step 3) Find a Deal (Package the deal and show supporting evidence that it's a good deal, get an appraisal if you have to) Include the following: Company Bio w/ your team members on it, Property Details, Property Tax Card, Scope of Work, Pictures/Video, Comparables, Financial Analysis, Due Diligence Items, and Contact Information.Step 4) Find Private Lender Prospects- Sphere of influence, networking events, ask for referrals, ask CPA, ask attorney, etc.

So if a large claim happens it will use the liability on the first policy then go into the umbrella (excess) policy.Here are common mistakes with the umbrella.1. 

It was so fun, and now I have lots of excess energy to put towards real estate!! 

I am currently in the research stage of becoming a real estate investor and looking for advice, tips, etc.  

We were able to show the units before the sale closed (and while still staged).

(I am from Buffalo, NY and I realize that is state dependent) We are applying for an FHA 203K loan and a few of the first few banks we spoke to do not allow you to utilize an LLC with their loan options.We do plan to acquire more properties down the road but should we pursue an LLC at this early stage? 

Excess proceeds (personal property) from a tax sale could escheat.