Simply placing the property into an LLC does not create a real protection in some instances since the LLC can be pierced, especially when you are the sole owner of said LLC.

We are up to 44 units right now but know that in order to grow at the rate that we want to, we are going to accept investors as a part of our apartment equation.We already have investors for our houses so this feels like a natural progression.

If you grow too fast and are behind in these areas, things can go bad quickly.

I think I'll hold onto the job I have now and let my stock and 401k grow and continue wholesaling on the side and work my way to a point in my life where I can start making bigger deals that are more profitable!

I have a good chunk of change and would like to keep growing it while I look for the next deal.

I hope to rise above the nervous jitters and grow to a point of financial freedom in realestate.

I own 6 properties and do not want to continue growing here.Thanks,Chase

Jamie,you have some details correct and some mixed up a bit - let me help.There are 4 components to a property - let us use a single family home as an example.There is the house - bricks and sticks.There is the deed - who owns the propertyThere is usually a note and mortgage - the Note is the promise, the Mortgage Secures the promiseThere is occupancy.Most people think these are all in the same and sometimes they are - in our instance, they are not. 123 Main St is the physical address.

Planning on purchasing my first owner-occupied 2-3 flat in Chicago, IL this year with plans to continue purchasing buildings year upon year, to grow a small Chicago realestate empire.Thanks,Paul

Make sure that you each have umbrella insurance of at least $2mm.Recognize up front that partnerships often result in frustration and remorse due to inequities in work performed (that is not property recognized in the operating agreement), differences in opinion on how to grow the business (take distributions versus plow all profits back in), etc.