Anyway, in getting the family involved or aware, make sure you don't make it appear that you need the family's approval for the deal, that will insult the owner as not being in charge of his own affairs.Best approach is to ask about family, what the kids do now, just be friendly and ask what they think of him selling the place.

When people think its that easy and they enter this business and realize there is some work involved in due diligence before you buy and by then its too late.

I can tell you it is much more involved than you may think.

Make a reasonable agreement and belly up to the bar or don't get involved in the first place. :)

You need a solid plan that everyone sticks to and make sure you know your partners well if they are going to be involved in the deal and not just silent investors.

I really would liked to be involved in flipping but now that I can't get a loan I am not sure where to go from here...

It depends on your goals and how actively involved you would like to be with your investments.

While I have been involved in real estate since 2009 when I acquired my 1st investment property back in college, I still consider myself fairly new to real estate world as I am still learning so much.

Definitely get involved in the wholesaling and rehab forum areas, because in my opinion the two require a lot of the same knowledge:1) An understanding of the local market2) How figure out ARV of a property3) How to estimate rehab costsThose are just a few.

At this point, I'm looking to become more involved with REI.