I have several pieces of real estate that I own solely. All of my properties are commercial, industrial, or vacant industrial. This is where I'm comfortable. I have had an interest in flipping and foreclosure but never had the time or comfort level to take it on myself.
I was thinking today about forming groups of real estate investors that would pool some money together for the purpose of investing in such ventures. I would like to have a lead with experience in the type of ventures the group is focused on. For example, I have a buddy that flips houses and seems to be very good at it. I also have other buddies that invest in real estate, have never flipped houses, but would like to try. I could see 5-6 of us forming an LLC, putting in equal shares of equity, and have Pat take the lead to find good properties and guide us in the rehab.
What do you think? Anyone have experience with groups like this?