Perhaps most encouraging, at least to me, is that although many of the guests are now operating multi-million dollar Real Estate businesses, many stated right where I am now―not knowing exactly where/how to start, afraid of making mistakes, etc.Although we live in CA, we are looking to partner with my wife’s oldest son, who lives in CO.

wow - That question is really loaded but this is how our firm looks at deals.We are very much risk reward oriented.

Lending Club allows anyone to invest in their loans because they are fully SEC registered, whereas Patch of Land operates under Title II, Reg D, 506(c) and can only accept money from accredited investors.  

So here's the combined numbers for both props on a monthly basis.Purchase Price For both Properties: $120,000Gross Income (both properties): $5,965Gross Effective Income (10% Vacancy rate): $5,368.50 Net Operating Expenses: $2741.31- Cable - $50 (it's gerry rigged)- Water - $435- Electricity - $450 (3 months during the summer its $800 a month)- Dumpster Fee - $185- Fire Insurance - $41- Property Mngmt - 7% (I will use professional management)- Taxes: $363.34- Maintenance: $800Net Operating Income: $2,627.19Capital Improvements: $25,000 (roof, foundation, paint, flooring)The owner combines all expenses for both properties because they are side by side.

Would love to meet/help out anyone who is operating in the area.

Please let me know any way I can help you as you get started as I primarily operate in the Hartford area. 

Make sure that what every you propose doing can carry the debt load & meet your investment goals.

You can also contribute to the project by joining them with a contribution to capital, in that case a note and deed of trust isn't necessary, but needs to be resolved in an operating agreement of the LLC.If there is significant money in on this, I suggest you see an attorney, you can use the same contract over and over again in the future.

Even if I did retain you, I am pretty sure the Partnership Agreement and Operating Agreement I just drafted would cost you that $7,800.00 check you just gained.

Doing the math on the property with a traditional 20% loan it looks something like this Purchase Price (Max Offer Price) $90,000 Percent Down 20% Down Payment Amount $18,000 Amount Financed $72,000 Interest Rate 4.85%  Closing Cost $3,150.00  Costs of Repairs (Make Ready) $7,000  30  Mortgage Payment $379.94   Rental Income Monthly Annual Unit A $1,050.00  Vacancy Rate 5%  Net Rental Income $997.50  Expenses Monthly Annual Property Management Fees $105.00 $- Leasing Costs $50.00 $  Maintenance Reserve $60.00 $ Utilities $12.00 $-  PropertyTaxes $45.83  $ Insurance $80.00  Total Expenses $352.83  Net Operating Income $644.67 Net Cash Flow $264.73 HELP PLEASE, this looks like one of those properties I would be fool to let pass by.