Closed my first deal today....finally!

[Mike B.]

Well it was a long process but the day finally arrived. After months of education (mostly here, see post history) I finally came to a realization that many have talked about and many need to experience:

I said to myself "enough reading, searching, listening to podcasts, window shopping on mls sites, building spreadsheets, stalking homes, etc...it's time to get off my a$$ and pull the trigger!!!"

First step was to contact a banker and get that straight (commercial business loan).

Next step was to contact a realtor and get that straight (one that specializes in REI).

After I got through those administrative details I was shopping. About the fifth or so house was golden to me. I stress "to me". I was looking for a single family flip. I understood everything (visible) that needed to be done...much of which I've done before on my own homes. I knew the neighborhood and it fit what I was looking for in all aspects.

Got it under contract (it was an REO) May 20th. Closing June 15 or something like that.

Morning of closing I learn I'm not closing. Probate issue. Addendum to extend contract.

Weeks later another addendum to extend the contract.

Weeks later a new close date, awaiting Power of Attorney from seller....another addendum to extend contract.

New closing date. I find out last minute there was a deed error or something. (Im not really paying much attention at this point...in a "I'll believe it when I sign" mode)

New closing date. Banker calls me day of closing. "Is your legal name Mike or Michael"? Ugh. Title work was done under Mike.....not my legal name.

New contract extension.

Waiting.

Get a new addendum to move extension date up to tomorrow...hmm they must be ready. Contact banker and title co...they say two weeks.

Next Day I hear it will be ready tomorrow. New contract extension...to July 31.

Closed today.

Time to get to work.

:)