I want to start an investment fund to invest in Real Estate.
What are the steps involved?
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Your best bet, and it is a bet since gambling is involved, is to start an investment club. This would probably be local and you could have meetings etc. Just open a bank account under the name to be used. Collect investment money and go for it.
Now an investment fund would give the idea of a mutual fund. A lot of time and red tape involved with selling stock on the market. This would also cost you the start up and leave nothing for investing.