Introduction.. again

[DeMarrius Payne]

I've already done one introduction but I took over a year off of BiggerPockets forums and real estate so I wanted to reintroduce myself. I am an inspiring real estate investor from Nashville TN area. Currently living in Greensboro, NC. Long term goal is to buy and hold multi-family. As of now I am trying to get into wholesaling.

[Michael Lee]

Hello and thank you for re-joining! You did not mention much about yourself so I will make careful statements that do not say anything about REI. I still have a few things to say. Since I am 59 years old I got a few things to say, please ignore me trying to teach anything you allready know.

Do not try to do everything yourself.  Have at least a preliminary Team put together. Make sure they are local and trustworthy people who will return your phone calls promptly.  It would be better if they understand what you are doing.  A preliminary Team includes Attornies, real estate Agents, CPA's (or accountants), Inspectors, General Contractors, and Handymen.

Always remember to do a math analysis and try to look at prospective properties before you make an offer or at least have a clause in the sales contract that allows you the time (about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you very much.  Do not cut any corners to make something to look better.

Just do what is average in that neighberhood. Form some type of corporation or an LLC that will protect you personally about deft problems or other business mistakes. I am 59 years old and I found BP about a year ago and I still have not decided what to do as an investor. It would not be too defensive about this but get a loan Pre-qualification letter from a lender and have it state how long it will take to make a closing and a maximum amount.

 I went to college to, not that it is mandatory, and I got a business degree that emphasized real estate. Since I was in Texas and planned on staying there I found out that I was qualified to take a test and get my license as a broker, so I took the test and got a license.  I had it for about 30 years but never did that full time.  My father has been buying and selling real estate (mostly comm'l) and he has taught me a little bit.  If you think that I could help you please contact me through BP at any time.  Good luck to you!