What am I Missing?

[Michael Rivera]

So I want to wholesale a few homes in order to supply a down payment on a rental property or even a rehab but there always some new law or regulation on the topic that make me go back tot the drawing board. Is this all a 18 year old investor needs i know some people will be reluctant to do business with some one so inexperienced.

-Find motivated seller (Bank/FSBO)
-Send numbers to Hard money lender (Pay Document Fees)
-Forward POF letter for offers from hard money lender to listing agent
-Form LLC if accepted (Pay express LLC fees)
-Find Attorney for title work & closings (pay consulting fee)
-Make offer in LLC name with Articles of organization & other documents to strengthen the LLCs reliability along with POF and Escrow money 1k-3k
-Get necessary documents from attorney/listing agent for purchase&sale signed to gain interest in property
-Market Property to End Buyers Via internet & Cold Calling
-Buyer Comes to Closing with 2 checks one for purchase one for my fee
-Sell him the rights to the LLC and everything involved with it & Fire myself
-Play Closing costs
- Cash my check
-Should Take about a month from start to finish

Contingencies
Subject to Inspection approval
Home must remain in the order in which the contract was signed

Documents needed
Purchase & Sale
Option to Purchase
Assignment Contract
Operating Agreement
Memorandum of Management Rights Transfer

[Ned Carey]

Michael Rivera that is a pretty good list. You may not need all of that.

I didn't understand this

Did you mean "to" the attorney and agent or "from" the attorney and agent? You should have your purchase contract signed before you even go to the hard money lender. Don't do that other work or spend money before you know you have a deal.

Good luck - Ned