I think most are experienced, have cash reserves, joint ventures, leverage partnerships etc.

Just be ready to pay for that experience either directly or indirectly like giving them a better equity position in your joint venture.

This past year when I decided to start getting more serious about it, and found a property that I thought the numbers worked on to flip, I called him up to see if he would be interested in a joint venture, where he'd bring the money to the table and I'd handle the work on the ground.

With that much money available maybe other investors bring deals to you or you can joint venture with someone you trust.

We are also closing in a joint LLC with them because the property is coming form Hubzo.

I'm about to enter into a J. V.  and was looking for all the possible pitfalls I should expect as well as all the possible safeguards I should insist on. The details - I would find the rehab and HML servicing for $75k...

Since I'm in San Diego I get to see Gordon on a regular basis and have read his book and watched his videos.When I bought my first pool of notes I did a joint venture with a guy who has been in the business for more than five years and I'm learning the process through him.

It seems when it was installed there wasn't expansion joints so when the Unit went Vacant without AC the wood is all warped and cupped.

If you cannot demonstrate material participation (or you are not a RE Professional), then you are limited to an annual $25k loss which is phased out at $100k MAGI if single, $150k if married filing joint.

Even if you do want to use a property manager.I would suggest you look at investing in index funds if you want passive income or consider being a money partner in a joint venture with someone very knowledgeable in real estate investing in Edmonton.