My first multi family property Under contract!!!

[ALLEN KEYS]

Wow, I thought this day would never come..... After three months of negotiating with Fannie Mae, I feel great knowing that I am now going to be an "official" investor. My closing date is set for Jan 2014 and I can't wait to get started remodeling and marketing for tenets.

Since I'm using a Home Path loan, I was surprised to discover that it was sort of a challenge finding a contractor willing to accept the job.... I would say that out of the ten contractors I called only three of them were willing to view the property. I must say, that my contractor search took place PRIOR to me getting the signed contract from Fannie Mae.

So, I figured that they (the contractors) were not taking me seriously and decided to hire a company to conduct a feasibility study. I think it was worth it ($400) because after informing the contractor that I had the report is when those three contractors responded. Of course they wanted me to email them a copy of it first.

In hind site, I would do it again, because from the contractors perspective, they could be wasting their time if I have absolutely no money involved or tied up in the property (a tire kicker).

So, that's where I'm at so far in my process, and thanks to everyone on this site for contributing helpful information!

Allen