Hi Craig,
This is a great way to get started in property investing as long as everyone is on the same wave length.  The Unit trust structure is a good place to start.  Financing is quite easy to do but I'd recomend engaging a broker to do all the work for you.  It is most important to set down the groups goals in writing so everyone is working in the same direction. Get some kind of agreement drawn up by a solicitor.  Things do go wrong when going into business with other people even if they are friends and it can be very messy when friendships are involved with money.  I was involved in a property investing group awhile back, there were 8 units involved (four couples and four singles), we put in $2,000 each at the start then added $200 each every month.  It wasn't long before we had enough to purchase the first property.  Within 18 months of starting we had three properties and a bank balance growing.  We met each month to discuss investing. present opportunities etc.  Everyone was keen when at the meetings but nothing would happen in between meetings, in the end it was just a couple of people doing all the work including working bees at propeties.  In the end everything was sold and the group disbanded.  Pity as the business would have had 15+ properties now.

John

I have over $1500 owing on excess water bills and am having difficulty recouping, My PM is really useless or maybe it's me.  I have to manage the manager better.  This tread reminds me to give them another call.

Cheers