
I’m putting the cart a little before the horse on this but it’s Monday and I’ve been reading real estate stuff all day so I’m in the mood.
A long time goal of mine has been to put together a company that invests in real estate. I call it a company because it has to be organized that way but it would be more of a club. I think the sweet spot would be 5-15 people. Less would not make it big enough and more people than 15-20 would probably end in too many personalities.
Yes I could go it alone but more people mean bigger deals and those are just more fun and sometimes make more money. It’s also more fun to do a project with other people instead of alone. It also will allow diversification since there would be more money to go around.
I will do more posts about this here and on other Chicago area real estate sites and will keep refining the plan.
The buy in amount will be the toughest decision. Less than $5000 each may not be enough but too much will limit the available people to get in. I guess if the number of people were closer to 20 then $4000 each would actually buy a small property that could be flipped. 20 people is a lot to fit in at a starbucks meeting though lol.
Having me as a Realtor on the team would be a great advantage since I can search services and talk one on one with other Realtors to find great deals and make sales. An old friend of mine used to buy properties with other realtors and I am sure she made more doing that than actually selling homes. She once bought a 16 unit apartment building with a partner that was positive cash flow from day 1.
I also have a good friends that are everything from brick layers to painters to carpenters. At the very least I can use them to advise if a property is doable or not.
I need feedback from you readers that may be interested…
leave a comment here or email me if you have thoughts on this or are interested in being a part. We could start things as a sort of club that meets at starbucks or wild wings and talks about real estate. Everyone is welcome.
Tim Davids (licensee)
McColly Real Estate
Tinley Park, Illinois
(219) 916-6680
valpotim@yahoo.com