REI startup company?
So, I’m not entirely sure where to start with this question so I will just jump right into it.
For a while I have wanted to be a Real Estate investor. The hunt, the find, the returns, all excite me to no end. That said, last year was a big year for me. I started out and purchased a newly renovated and remodeled multi family. It has given me a little over 31% CoC return and 14% CAP rate. Bought it with no renters and in 24 hrs. had both units rented for the next year.
Well, since I constantly look at the markets around me (Triangle area of NC) to see what is going on I bumped into another multi-family (I only care about multi-families) and after seeing that this too was just recently renovated and remodeled I saw another great opportunity. Put an offer (had to fight a bit to get it) and closed late in the year. This was turn key in the sense that all 4 units were just recently rented by previous owner. This is giving 34% CoC return with right around 15% CAP rate.
Now there is of course more to each of these deals but so far with some dedication, organization and solid communication the portfolio is starting to build nicely and perform well.
My ultimate goal is to start an investment company/partnership. I have had about half a dozen people come to me wanting to give me money since they hear how well these investments are performing and hear about returns that can be handed out. However, out of those I would say 3 are truly serious. My question is this. Where would I start? Who would be a good person to speak with? Any tips and advice is very welcomed.
Thanks!