Hey Guys/Gals I am new. Wanted to introduce myself...

Hey Guys/Gals I am new. Wanted to introduce myself...

Member since 2008 · 3 posts · 0 votes

Hey! I am a 24 year old business man who is interested in getting into real estate. I currently own my own sports supplement business and personal train as well. i am getting married in june and have always wanted to invest into real estate. i am tired of trading time for money so starting next week i am only personal training from 530am to noon monday through friday and the rest of time i want to spend learning the game of real estate. I have a full time employee at my nutrition store so thats not going to be an issue. oh yah btw my goals are to be finacially free so i can spend time with my amazing wife and raise a Godly family who serves the Lord. i want to be able to have the freedom to travel and hopefully one day start my own church....

heres the deal...my soon to be brother in law thinks much like i do and is already starting to get his feet wet in this business. he is 24 as well. he made me an offer that if i came on board with him he would teach me the business and introduce me to his investors, ect. he said i could go find properties that i wanted to purchase and use the investors money and that we could rent the houses out and i would make 1/3 of the rent we profited each month plus 1/3 of the profit once we sell the home. i basically have no risk and need to cash of my own. sounds like a good to me and i can gain some awesome experience for bigger ventures down the road. i wanted to get any advice or input from you guys on to what you guys would do if you were in my shoes. i am very teachable and would love for someone to mentor me on here. thanks ahead of time

-jeremy

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  • Member since 2008 · 249 posts · 6 votes
    19y

    Jeremy,

    Welcome to biggerpockets! It sounds like you and I have very similar ambitions and goals. I'll be interested to hear more about it at some point.

    As for your plan, it doesn't sound like a bad idea, as long as you've got a solid team around you. I would highly suggest sitting down with a good attorney to ensure that everything is set out clearly from the first moment to ensure you're protected. It's amazing how ugly things can get when money is involved.

    Check out the list Josh compiled on Assembling Your Team as you're considering who you want to get involved and who you will want and need to be involved to protect you and push you in the right direction.

  • Member since 2008 · 3 posts · 0 votes
    19y

    thanks landchasers. i cant find that post by josh. maybe you could send me a link to it? thanks... 2 questions for you.. 1) what do you do to make your money. whats your niche so to speak? 2) what would you be doing if you were in my shoes and what kinda deals would you be trying to find?

  • Member since 2008 · 249 posts · 6 votes
    19y

    I'm having trouble adding the link. I've tried several times and for some reason it won't work, so just copy and paste it:

    http://www.biggerpockets.com/renewsblog/2006/03/15/assembling-your-real-estate-investing-team/

    I work as a birddog/reatlor for investors acorss the country here in Indianapolis and have rentals myself.

    A lot of where I would suggest going next, depends on where you are right now. Feel free to shoot me an email with your number and we can talk it through a little. I'd be more than happy to spend some time talking with you about it. derek @ landchasers . com

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