From what I'm observing, it's like the elephant that's NOT in the room, even though I'm POSITIVE every investor is privately obsessing over the rates as they put together their pro formas. 

It certainly is not easy, and is in no way shape or form a get rich quick scheme.

I'm neutral because there is just SO much supply down there that I believe you can still find deals, but its important to be selective and not take a single offering pro-forma at face value.

The Pro-forma rent role was an annual total of $220,000 (this was fair I pulled comps).

If you ask a lawyer you will be told to form a LLC, that is part of the business they are in so don't be surprised they push it.

Hey BP community! My name is Haneesh and this is my first post, but have been following the forums for a few years now. I recently got my real estate license and joined a brokerage. Some of my friends and mentors have...

Anything two knowledgeable, competent people agree on to form a partnership is fair.

The seller and I partnered to form a company where I would purchase the property for 250K using bank finance, she agreed to leave 180K in equity in the property and maintain a 28% shareholding.

Here is what I have:Targeting 1 to 6 units with lot rents averaging less than $400 per spaceVacancy rate between 65% to 90%Lot rent cap rate is above 10% (actual, not pro-forma)Bonus if the seller will partially owner finance.No geographic preference.This is my "initial filter" criteria.

We form a community that is as close knit as you want to make it.Again...welcome!