Forward progress!

[Matthew Rutledge]

Signed the paperwork for the refinance of the original rental house this morning. Finally. The underwriter made a mistake that almost cost us the lock. And the fires in Colorado Springs evacuated the corporate office of the place my wife works so they couldn't reach someone when they called to verify employment. But we got it all nailed down.

We need to let this one "age" a bit before we do anything else. Loan should fund on Monday, and be purchased Tuesday or Wednesday. After it is purchased I will wander into my local bank and start talking to them about 90% LTV line of credits. Once that is set up, I will be in a "cash buying" situation and then things will heat up quickly.

I have a couple neighborhoods picked out. There are retail homes available, foreclosures, and I'm sure there are also various distressed properties just waiting for the right buyer. The lady from the title company knows a realtor who works with one of the local banks... It's all starting to come together.

I will start the loan discussions late next week. If everything goes as planned we will have cash available by the 21st. If things line up, I might make my first offer as soon as the 15th of July. (Vacation and stuff has to happen!)

I'm getting excited. It's almost time to see if I've actually learned something with all the reading I've been doing.