Joe GoreAnd two decades ahead of the Bull out of Texas Joe, LOL

Thank you for any information or input ahead of time,Walter

Do you have any kind of formula?

My recommendations are going to be more difficult and specific than the above, but they will serve you well for life.Learn accounting - if your high school has a course, take it, if not, get a managerial accounting book and learn the basics.Learn MS Excel - there is not a single real estate investment that can't be modeled using MS Excel, and know how to use it well will put you light years ahead of your peers.These two action items alone will make a huge difference in your future.My last piece of advice would be to start changing the way that you think.

With all the international cash pouring into the market, prices are being pushed up, and in many cases, the local investor is pushed out (we're seeing situations in which international buyers are seemingly ignoring formulas and returns and simply buying to park cash or bet on the rising tide - and multifamily is in high demand).

Buy it cheap, don't over rehab it and then sell it for a lot less than it would fetch in a nicer area.Last year I made over $33K flipping a house that was literally across the street from a sewer plant, had train tracks running through the back yard, was in the flight path of the municipal airport and while in a nice town itself was less than a 1 min drive (Unless you had to wait for a train to go by:) ) drive from arguably the worst city in the state.Sold it for about $100K less than I would have if it was like a mile away.

Each partner would have tax implications also and would need to speak to their tax planner ahead of time.Don't just look at the money that can be made.

It's kind of funny - I have the opposite of your story - I've been flipping SFHs (mostly in Chicago) but now I plant to start investing in small multifamily properties - in addition to the flips.

I'm assuming this would be addressed at the time my customers decide to go ahead and lease the property?

Hello everyone, Well I'm looking to get some investment properties in Jan. 2015, and am trying to laying out the best strategy ahead of time.