Thank you in advance. ( Also I'm in the middle of BRRR book so I'm feeling motivated ) Besides what has already been mentioned, another good reason to wait before starting this venture is that interest rates will probably be going down soon. 

You could structure a joint venture agreement but make sure you lay out the following: - Purpose of the Venture- Contributions- Ownership and Profit Sharing- Decision-Making- Management- Duration and Termination- Liability and Risk Allocation

It serves as a testament to the power of vision, collaboration, and dedication in realizing ambitious commercial ventures.

This would be more of a joint venture .

G'Day Bob,Not many "true" turnkey companies around anymore and I've seen a trend where investors want to DIY out of state and country.Personally, I think this is an even bigger recipe for disaster than buying turnkey.bBut that's just my opinion.Back in the day you had many "turnkey" companies selling crappy properties in crappy areas for a lot more than market value.Then they pass you on to a 3rd party PM that nickel and dimes you to death.Granted, if you want to DIY I would always advise moving to the market that you want to invest in.Spending enough time with key people needed to make your venture a success.Yep, easier said than done 🤷‍♂️If you DIY from out of state, you will probably find an "investor friendly" agent that will flog you expensive property from the MLS, refer a "good" contractor and then you will most likely also get nickel and dimed by a referred "trustworthy" PM.IMO, you are safer finding a reputable turnkey provider in a market that you want to invest in and go from there.If $#%@ hit's the fan (Which it always does in real estate), at least you have everyone to blame under the same roof.A true turnkey provider will have everything an out of state investor would/want and need under the same roof.No finger pointing is allowed lolI'm bias as we offer turnkey so take my words with a grain of salt.Just happy to offer my 0.2 Aussie cents.Wishing you much success

I have not really ventured into Baltimore city much for investing so don't have much advice for you.

While paying down the mortgage sooner has its merits, it's crucial to weigh this against alternative investment opportunities.Regarding upgrading to a property with better cash flow/appreciation potential, it's challenging to surpass the cash flow of a quadruplex unless venturing into commercial assets.

I am now looking to start my first real estate business and would greatly appreciate connecting with other experienced investors.My goal is to start a small but promising real estate venture focused on property or land acquisition/development.

G'Day Trevor,Just posted the same below to another investor asking about turnkey and my advice stays the same 😁There aren't many "true" turnkey companies around anymore and I've seen a trend where investors want to DIY out of state and country.Personally, I think this is an even bigger recipe for disaster than buying turnkey.But that's just my opinion.Back in the day you had many "turnkey" companies selling crappy properties in crappy areas for a lot more than market value.Then they pass you on to a 3rd party PM that nickel and dimes you to death.Granted, if you want to DIY I would always advise moving to the market that you want to invest in.Spending enough time with key people needed to make your venture a success.Yep, easier said than done 🤷‍♂️If you DIY from out of state, you will probably find an "investor friendly" agent that will flog you expensive property from the MLS, refer a "good" contractor and then you will most likely also get nickel and dimed by a referred "trustworthy" PM.IMO, you are safer finding a reputable turnkey provider in a market that you want to invest in and go from there.If $#%@ hit's the fan (Which it always does in real estate), at least you have everyone to blame under the same roof.A true turnkey provider will have everything an out of state investor would/want and need under the same roof.No finger pointing is allowed lolI'm bias as we offer turnkey so take my words with a grain of salt.Just happy to offer my 0.2 Aussie cents.Wishing you much success

Welcome to BP & congrats on your new venture in real estate!