Written Purchase Agreement Secured!
Tuesday, October 18
This is a simple update that the bank signed the purchase agreement. The terms of the agreement are:$129,863 Purchase Price3% to Purchase Closing Costs$2,500 in additional Purchase Closing CostsClosing Date of 11/25 (which is Black Friday, so it will probably be earlierNow, the anticipated ARV an...
Results: Property Acquired!
Wednesday, October 12
Whew. The whole process of finding and securing a project for a fix and flip is difficult and much harder than I ever anticipated. The hardest part was finding the funding actually, and inexperience really is a bigger factor than most people realize when trying to work with Hard Money Lenders and...
Refresh and Renew
Monday, September 26
Woah. It has been a long time since I've updated this blog, and that's because I've been lazy, forgetful, and have hit a roadblock that I'm working to overcome.The roadblock has been with regards to my funding. When I had initially set out on the journey into REI, there were several funding optio...
Results: Potential Property
Tuesday, August 23
To continue in following up with The Action Plan, The Fine Details, and Taking Action posts, I am reporting on the results of my efforts.I have found a great Real-Estate team that are very experienced and have been involved in Real Estate investing themselves. They have done flips and also own se...
Taking Action
Tuesday, August 16
Well, after detailing The Action Plan and The Fine Details it's time to start actually doing the things necessary to get the first deal done. In this process, I will need to develop a team of professionals to whom I can rely on since I will be working full-time while I do this. The way that I see...
The Fine Details
Friday, August 05
After having defined what The Dream is and having sketched out The Action Plan, I now need the fine details for The Action Plan. My goals were previously broken down into more bite-size numbers which I will share again: 40 units cash-flowing $300 per month and a lump sum of $300K generated throug...