.- Establishing a Partnership for a Real Estate Deal- Real Estate Partnership Questions

It might work as a numbers game (do enough deals and the duds are paid for by the winners).

a) Gaming and hotel related is definitely the #1 industry, followed by construction.

notice the "$XX,XXX"...i think mike is located in Ohio.you might be able to make an $XX,XXX offer - but if you're located in say, Long Island NY - you're offer will have to be $XXX,XXX for starters...also - if you're in a place where the market was very good, sellers (about 95% of them) will be expecting A LOT more than what you'll be willing to buy it for.talking to the owners in person is definitely a good way - like mike said - once you've established the ballpark price you'll pay - otherwise, letters and driving to houses is a waste of your time, gas and ultimately - money - cuz it all breaks down to money either way.in my experience - letters of intent are a waste of time, especially if you're sending them to real estate agents.

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It is difficult to get a loan in the name of an LLC unless the LLC has established credit.

I'm green in this real estate game. :D

The key issue is establishing what is the FMV for that property and why you were able to buy it below FMV in the first place.

In the past I have noticed that some times people forget to keep their game face on.

I make sure that the one (maybe two) investor I walk through with is a solid established investor that is serious about the house with knowing everything I already know about the inside.