Posted by Harley-CA on July 26, 2001 at 01:23:36:
JL,
The first thing I would do is figure out what you are going to accomplish with your investing. What is your two year plan, your five year plan and your ten year plan. What are your investment goals? What kind of return can you offer to an investor, etc.?
Get these ideas down and then go to work on a standard business plan. There are several models on the internet. Just do a search on the term “business plan” and then just use one of the links to spark your own plan.
Remember, people want an answer to the question “what’s in it for me?” They want to know that you’ve got a system put together that will make them money if they invest with you.
I prefer joint ventures when dealing in real estate partnerships. Each of the partners can be corporations for tax purposes but I prefer the joint venture. It all depends on what you will be doing. Get that squared away and then come back and post the questions that arise from that phase of the project. Let the wisdom here on the board help direct you as you’re already doing, but I think the first step is to get a clear idea of what you want to accomplish.
Just my 2 pennies worth.
Harley-CA