One lesson learned: Create a good relationship with contractor and shop around for the best pricing on materials.

@Justin PumprAs real estate investors, you should stabilize your portfolio, focus on debt management, adjust contractor relationships, implement stricter risk management, and tighten underwriting criteria.

On development deals we have to but I only use my bank that I have a 30 year relationship with and I put in our loan docs up front an unwind clause if it comes to that so the only way they would call a loan is if I walked away and deserved to have it called..

Also, if you have a long-term relationship with a local attorney, they may offer a discount for repeat business.

If you're 28, in a relationship or single but no plans to marry then I would househack locally.

However, if you know and have a relationship with the person/team that will be doing the rehab for you in your absence and trust they have your vision in mind then you are in a better place to start. 

You can also use your relationships and where you work to launch MTR properties nearby.

Do not think you can just start an investment company with 15k (that is reserves only on one property).Work for the next couple of years while you all learn and use your skills to help build the foundation of a future company and leverage your relationship with the alumni to see some of his properties and learn.

There is no "secret" that the big boys are doing necessarily, just incremental pieces of information, relationships, and knowledge that have been built up over time at scale. 

Financing- build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.