Just a bunch of random things really, but it was all beneficial, in my opinion.PRESENT:I save about 38% of my take-home pay, which will be used as my initial investment capital once I’ve saved enough.

The plan is to find a good solid job to build some capital quickly because I want to buy a and down the road some Multifamily units that I can rehab and then hold on for rental income.

What you have to sort out is who will provide capital to the company and perhaps who will just provide sweat equity/expertise.

We've decided to do the first property as follows:JV agreement where he'll contribute 100% of all capital into the project, including purchasing, holding costs, and rehab up to $100K.

However it is much riskier and you should have capital to back you up, also the contracts much be done correctly to avoid additional liability.There are two separate contracts, one is between you and the owner and the other is between you and the Tenant/Buyers.

Keep in mind that most people who enter into a 1031 exchange will always keep exchanging over time, so that there is never a sale that generates a capital gain bill from Uncle Sam.

Looking more towards long-term capital growth followed by high cash flow down the road (10-20 yrs or so…).

Originally posted by Steve Babiak:As Steven posted above, your friend should be contacting the QI for instructions on how to proceed so as to not jeopardize the tax-exempt status of the sale of the relinquished property.Just to clarify,1031 exchange only defers capital gain taxes, does not exempt them.

I'd have to pick a property up at deep deep discounts just for the brain damage of learning a new market and due diligence required.OTH, if you are a subsidiary of GE Capital and can buy 15 properties in an area, that changes things, I assume you're not in that position.Good luck!

It's government and private sector working together alright, the private sector being politically connected venture capital/capitolists, lol.