I started out flipping a few years ago to grow enough capital to branch out and combine several strategies.

Interestingly, I just sent out the third letters to the first group and the third letters have netted more call backs and appointments than the first two combined.

Not likely to happen on a property with a $350K value.If your mother doesn't qualify for a loan to buy out her sister, then perhaps the two of you could do an offer that combines some cash and a seller carry back.

My gut tells me that as we grow-up to larger (8,12,16+ unit) properties things will become more business like and familiar.3) Contractors ... let's just say, your average contractor in this industry is much different than in the software / IT sector.We funded this real estate "startup" using an investment from our software company and, to date, our acquisitions have all been financed through a combination of our own funds and conventional lending.

So lets just pretend that I found a property for 1.0 million (for ease of the example) and had a combination of 30% private money and 70% hard money already lined up.

I should be so much further along in life than I am now, I've had a low 6 figure paying job in IT since I was 20' and up until last year, didn't utilize my checking account and was basically living pay check to pay check, with nothing to show for it now but being in debt with a couple cars and a bunch of useless things I do not need.I decided for my 25th birthday in a couple months, i want to start building wealth, i want to be able to by my 26th birthday have one or 2 properties that i've either bought to hold, or flipped... havent decided which is better for me yet, I'm still doing research but I am giving myself an action date of my birthday in a couple months so I'm not struck with analysis paralysis and time to save some money.I plan on attending the next meetings for all of the Maryland/DC area REIC meetings, and being active on forums, but will try not to be annoying and ask a bunch of questions instead of using the search function...I know how annoying that is hahaHope to get to know and work with a lot of you

Usually when building capital, it is a combination of steady savings and some other unplanned/unexpected financial windfall that we use for investing rather than a new big screen or whatever the average person does with it.

keep in mind a lot of lenders will not lend beyond 95% of CLTV (combined loan to value). you may need to close first, and then take on that second loan.

The courts ruled that even though each cab was owned in its own LLC, since they were being administered by one LLC, all cabs then were subject to the law suit.So in short, a good combination of reasonable LLCs coupled with appropriate liability insurance is the best answer.

The issue with combining both the operations side and the accounting side is that none of them can do both of them well - I have been spending some time looking at the trials and they seem to have strengths in one over the other.