Starting Company - Help me AVOID making Mistakes

[Shawn Benteti]

I have had experience working for a syndication firm (3 years) and this summer was originally going to move into a 4-plex utilizing an FHA loan. Ended up in a house but still want to start investing by starting my own company - don't want to pursue deals in personal name - and follow the syndication model but at a smaller scale with help and balance sheet of a mentor. Target is to pursue off market deals 8-20 units in Texas Class B-C pushing seller financing.

Any advice on starting a LLC / should my mentor be a partner in the formation of the LLC or should he serve more as an advisory role? How early should I consult with an attorney? Any mistakes that you have made that I may be able to avoid by planning early?

I have limited connections to investors but off-market deals / experience with negotiating seller finance may help to lever the deal. 

Appreciate any insights,

Shawn

[Drew Sygit]

Why don't you go find a deal, do the analysis, then market this deal to your personal network, here on BP, etc. looking for a private lender for the 25% down you need plus repairs,

The other 75% you'd get via bank loan.

The #1 purpose of this initial deal is to establish credibility and get attention. 

Doesn't matter if you actually acquire it. 

If it sells to someone else, just change your pitch to show it as an EXAMPLE of what you're doing & the deals you focus on. 

If you find good enough deals and put them in front of enough people - you'll find a private investor or two...