Skip to main content

Starting a real estate business with my college buddies and our extra income

Me and my friends are graduating college; tight knit group of guys that have been friends for almost 10 years. We all are going into well paying engineering jobs with no debt because we earned merit scholarships for school. We were thinking the other day: what if we pooled our extra income once we start our jobs, incorporate an LLC, buy a house under our (collective) real estate company, then rent/manage the house amongst us. We use that money to buy other houses and slowly build up a portfolio of houses over time that would provide us all with passive income.

We were thinking this would be a great way to get a return while also diversifying the risk amongst us. While it would be a lot of work, we think this could be a lot of fun too.

Is this a good idea? Has this been done before? How do we go about doing this?

submitted by /u/Algorithmic-Botany
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/gakwxm/starting_a_real_estate_business_with_my_college/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Looking for Prospective Opportunities to Utilize Floor Plan Redraw Skills

"Hey HomeOwners & Investors , I have a team of 10 professionals who are trained in redrawing/redesign floor plans in both 2D and 3D interior& exterior using floorplanner.com/3ds Max and TruView point cloud. We're looking for prospective opportunities to utilize our skills. Are there any companies or individuals in need of accurate floor plans and measurement reports ? Any suggestions for where to start looking? Thanks in advance for your help!" submitted by /u/mangojuicelife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/119uoh0/looking_for_prospective_opportunities_to_utilize/
Post a Comment
Read more