Time for an update.
First and formost, I was away for work for 2 weeks but that didn’t stop me from acomplishing alot.
So where do i stand? well I haven’t done a deal yet but almost everything is ready. Up until day 15 It was all research, reading, asking questions. The best Two programs I’ve read are ‘Subject TO’ by John $Cash$ Locke and Ron Legrande’s Real Estate Course. By Far the best resource I’ve found for anyone interested in Real Estate Investing is http://www.thecreativeinvestor.com/
Since Day 15 I’ve:
Spoken to a laywer to get the the paper work done for an LLC (done next week).
Secured him for doing the Closing (in DE. you need one to record the deeds).
Purchased a second Cell phone for buisness use.
Placed Ad’s In the paper to find Movitated buyers. (will apear in next weeks paper)
Spoken to the post office about mass mailing post cards promoting my service.
Went to the county court house to firmiariaze myself with proceedures.
More Research/Reading/Question Asking
and….Started working on my first deal!
FIRST DEAL?! YES
really this one doesn’t count completely because it sort of fell in my lap and was not a result of my efforts to find a house to buy. what happened was:
My grandmother owns a small property she currently rents out for $500.00 a month. there is no mortgage or leins against it. while visiting, she mentioned that she was going to call a realitor to sell the property and all she wanted was $60,000. I told her, it was a coincidance that she wanted to sell now when i was learing to do real estate and asked if she would consider letting me sell her house instead of a realitor. Not only did she agree, she droped her price some also becuase I’m Family. (no i didn’t ask or exspect that, but i wasn’t gonig to say no either). After doing my Due Dillagance I find out that the Property’s Actual Value is in the nabourhood of $100,000- 115,000.
Well the Sales ad is in the paper and if all goes acording to plan I’ll Clear about $50,000 after taxes and closing costs. I’m Very Excited about this and on a update soon, I hope to have a picture of the house and the check to show everyone.Share