I started out the same way, just soaking up everything I could about the Midwest markets and how these deals work in real life.If you ever want to bounce ideas or talk through what you’re studying, feel free to chime in.

I’ve been soaking up knowledge for a while, inspired by the stories and advice shared here, and now I’m ready to start taking serious action.One of my biggest strengths coming into this journey is my network.

They appear to be really soaking their unsophisticated investors, my guess they focus on doctors, and it's a risky place and time to be buying too. good luck4/18/24 update, i don't mean to dump on them, Viking Capital LLC.

Keep soaking up as much as you can and connect with others doing the same since it’ll speed up your growth a ton.

More than any other business, deciding to invest in a real estate syndication is a declaration of faith in the deal sponsor.In many ways, that faith far outweighs the faith owners of Tesla shares must have in Elon Musk.And Musk is a one in a generation entrepreneurial genius inventor.Like many seasoned real estate investors,I decided long ago that wealth-building was a life-long game of patience and perseverance.On both counts,a real estate syndication fails the test.Most syndicated deals have a hold period of 3-7 years after which the exit strategy involves selling.The few that attempt to hold on to the asset via a refinance run into uncooperative investors who demand their seed capital back for various reasons,often resulting into a compromise to either buy them out or risk a legal battle.The facts of the matter are very basic:if it's not your deal,you don't make the big calls.Conversely,if it's not your money,you don't get to decide it's final destination.Now there's a good reason I never got into the flipping niche either.I'm not a transactional guy.It always felt like slaughtering the hen that lays my eggs,and I love my eggs to bits every time they are laid.It's why I keep going back to the hen.In the end,we don't need 1000 units to achieve financial freedom,we just need a handful of well acquired cash flowing assets to arrive at that place of peace.With some patience and due diligence,most people can get there without sleeping with 75 strangers every 3 years only to end up with no portfolio and a bagful of inflation susceptible cash with little to no tax advantages.That's where we did not want to be in the first place.If you do succumb to the temptation and end up being one of the few deal sponsors that actually look the part and take care of investors' money like it's yours,do make sure you haven't "quit" one job that you hate just to work in another that is even more soul-crushing.Managing multiple syndicated deals as a good deal sponsor can be big business,and big businesses can very easily turn into time-devouring leeches.Covid has shown us all we are nowhere near capable of seeing 3 months ahead,let alone 3 or 7 years.An asset is only really worth what the next buyer is willing to pay for it,no matter how much "forced appreciation" we have projected to investors in a rent drop environment.When balloon payments come due,thou shall sell or refinance,and good luck refinancing if the LTV is suddenly inverted.When the pieces suddenly don't fit the puzzle in front of us,the sinking feeling in the bottom of the stomach can be incredibly gut wrenching.Be careful.A voice in the wilderness,Jacksonville FL.

I’m here to soak up as much knowledge as I can and connect with people who’ve been where I’m trying to go.If anyone has book recommendations, podcasts, or beginner steps that helped you get started, I’d really appreciate it.

It’s a different game than wholesaling, for sure, but if building long-term wealth and passive income is part of the goal (which it sounds like it is), STRs might be worth exploring.Also, major respect to your better half for planting the seed.

Sealing the basement floor might help   (something that soaks into concrete then hardens,   as oppposed to a paint which sits on surface and flakes off)  then clean the carpets,  there may have been dirty spots providing nutrients to the mold.Add a basement ventilation fan that runs on a timer or continously to keep humidity down.   

I have a decent full time job, can qualify for a good loan, no debt, have $200k seed money. 

Take your time soaking in the education side for now; that foundation really pays off later.