I am not familiar with the company specifically but I would just say that out-of-state investors (particularly from California) who are looking at turn key properties are often enticed by the "pro-forma" cash flow projections & sometimes do not put enough focus on the sales comparables (i.e. what is the 'true market value' of the property at Day 1 & how does that relate to how much I paid). 

I thought it was a great idea to form a group to help keep yourself focused and accountable on your real Estate goals.

I guess we could form a club.

You will need to provide your credit score and a pro-forma that shows enough income from the property.

Double-check that they have included insurance, vacancy and maintenance taxes, etc. whatever assumptions the company makes in their pro formas, you need to get the data that backs those up - what are they based on?.

You need to analyze the actual property operations and compare to the sellers pro forma.

The 50% rule is fine for quickly figuring out if a deal makes sense, but before you move forward on anything, especially a somewhat risky deal like this, you should have a detailed pro forma of your income and expenses.

If it is not profitable For BP to coordinate this event then we should form a committee called "Fall 2016 BP Meet Up" There has got to be enough skills here on BP to get it done.

I then put together a pro-forma about the property and sent it out to every local investor I could find and put it on the MLS as an income producing property and it is now under contract for close to my original asking price.  

Will we need to form a syndicate to start a group?