Experience is great, but with the right team you don't need all of that up front.. you can leverage that in others.

A lot of contractors like to work with other particular contractors in a team.

IMO, that's not a very sophisticated way of budgeting, b/c it fails to consider ROI and marketing efficiency by channels.How many listing/buyer clients can you &/or your team (if you have one) support?    

If not, find a great team in a good market. 

Lastly, My hat's off to Josh, Brandon and BP team for making such an amazing site.

http://www.meetup.com/MyINREIA/ It is a great place to meet people and begin to build your team.

I'm ready with my team, so I hope to meet and work with some great people here at BP. 

That means becoming an expert  on an area, having a well seasoned team in place to act quickly ( realtor, lender, title and contractors) and having some balls to execute on the  right transaction.

I am a husband to an awesome wife, and a father to two lovely daughters.My experience in real estate consists of countless hours of moonlight research and reading books, listening to a lot of BP podcasts, and lending a helping hand with construction and grunt work to friends who own rental properties to learn what I can from them.My goals in real estate are to invest in buy-and-hold single & multi-family properties, building a portfolio that will allow my wife and I the financial freedom and time to dedicate more of our efforts to helping and blessing othersThanks to BP for this invaluable resource to financial freedom and to all the members who contribute their knowledge so that others can learn and grow!

I just saw this happen to a team of new investors with condos around the Penn Square area.