Help getting started as a investor with two of my closest friends
Hey ya'll I'm new to the community and based on all of the posts that I've seen so far I've seen I'm glad to have found a community as supporting and inspiring as this one. As the title mentions me and two of my closest friends, we've known each other since elementary school, have always had the dream and passion to get into real estate with one another as a full fledge business. A little background information on us is the following.
We all just recently graduated high school and are currently confused on where to lead on from here. I currently am in training to become a EMT and eventually work my way to a paramedic to be able to support myself and provide for personal expenses. The first friend is unaware of the route he wishes to pursue but is dead set in the idea of revolving his career around real estate. And the second friend currently works with his father doing roofing and other contracting jobs such as flooring and the occasional repair, which I find immense value in him as an asset to the company as he maybe be able to mitigate many of our costs in repairs and renovations as his skills and experience may help us to prevent other contractor costs increasing our profits potentially.
Now comes to the main point of this post. The sense of direction that we so desperately need to be able to establish ourselves and turn this dream of ours into a reality. One of the main points of conflicts in this came with us unsure of how we would equally manage and distribute the profits of our investments. We had toyed with the idea of an LLC, but are unsure of how we would go about setting that up.
As well as that we have also looked into the idea of "House Hacking" and getting multi family property with four units. While this quite ambitious for new investors like us but we figured it would allow for us to live in one unit and rent out the other three and allowing one person to manage and develop a style and feel for the environment of rental real estate.
We also have over the few years that we have been in the workforce have managed to clump up a fairly substantial amount of funds that we all equally put in since we turned sixteen and have accumulated roughly twenty-five thousand dollars from working part time jobs and other odd jobs we did throughout high school. We also plan on still continuing to add to that money pile until we find a sense of direction and allow us more purchasing power.
We hope to get started in a fairly competitive market like Austin, Texas or San Antonio, Texas as we currently live not far from those locations currently, and feel that the adversity that we would face in those markets will create a environment that will allow us to thrive and grow as young and ambitious investors.
Thank you for reading through this fairly long post, but any advise or questions that you have for us would be greatly appreciated!