You can have a joint venture where you are not an owner of the property but contractually entitled to profits.

Eric Michaels and Jon Holdman, it was my understanding that you can joint venture with your 401k..a joint venture would imply that you didn't need to create this new LLC detailing the partnership...curious what you found out eric??

Do you ever venture to other areas of Texas or just mainly focus on your hometown?

I want to begin wholesaling then venture out into landlording.

He is thrilled and thinks he is getting a phenomenal deal since the neighborhood is in gentrification he feels he wants to stay for a few yearsAlso you have to understand also that the kitchens and baths and living spaces are way above grade for the area water fall faucets, laminate flooring, deep sinksglass back splashes tiled floors in bathrooms rain shower heads washer dryer hook ups and the rent is ultimately on par or slightly less than the neighborhood so I feel I have the right to be selective(that is my arrogance talking) so to address that as far as my process seeming arrogantI have been accused of being arrogant before so I wont be mad anyone for saying that.but I am genuinely a nice caring person who will bend over backwards for my tenantsso i may be a little arrogant but I will jump through hoops for them just like I am expecting them to jump through a few hoopsI will say I am humbled by all of the solidarity against my plan so I wil re think it I have much to learn and this is my first venture into this game I am doing it solely on instinct and my intuition so thanks for all of your feedback everyone I am positive it all came from a place of love and caringJust a side note I am so laid back and easy going that sometimes people tend to take advantage of my kindness so part of what I do is make sure the people who I have to interact with have some integrity and moral character so that I dont have to be a bad guy when they stop paying their rent because they somehow think they can get away with anything and they push the envelope until I have to show my teeth

I would venture to say the bad leveraged deals were a function of the market being overheated,not factoring numbers correctly,and overpaying to obtain seller financed deals.They bought wrong at the wrong time and paid to much.The leverage wasn't what made the asset lose money or value.Leverage used correctly on larger assets using the income approach you will not incur huge losses.The keyword is used correctly.I see many deals transact with people with more money than common sense and scratch my head trying to figure out what they were thinking.

Good luck with your real estate ventures.

I am only a potential end-user looking for other investors that can give me feedback on Preston Ely's newest online venture.

Can you really put that or your persistance out as a professional venture?

lol, no dice, the law license is currently paying the bills for this new venture :)true, but some of the smaller brokerage houses around here seem to be a bit shy not using promulgated forms and I don't have access to those and will likely have a separate LLC run the management company side. again no need for the brokerage license unless I have other partners (I do) within the LLC that owns the property(ies)