All Forum Posts by: Dane Silchenstedt

It needs a lot of rehab so I don’t think traditional financing would touch it, probably will have to be hard money. 

I’ll reach out to a title company now and ask if they have an attorney attached 

Ty Michael for that info, that helps with that step. How do I draw up a contract? Where do I go for this or will the title company handle this as well.

I’m working on getting a hard money loan but being a first timer not everyone wants to take the risk

I have my first deal. It is a random place i was walking by and he is interested in selling. We are still settling on a price $140,000 at this time with an ARV of 300,000. It'll be a full fix, followed by rent, and refi. Sounds like a BRRR to me. So What now? After we agree on a price....what do I do? How do I make it mine? How do I check the title to make sure it is clear? The son says he has POA for his elderly mother with Alzheimer's, she's on the title. How do I confirm this? I don't want to lose this deal, its solid.

I went to appraisal website and the name and have gotten the owners name. Now I just need to find them. I am so nervous I am going to screw my first deal up.  

I have found a property I am interested in. It is distressed, high grass, broken down car out front, utility **** off notice in door, and through front window it looks like a hoarder.

I’ve looked at appraisal district site and have a first name with last initial. I am about to head to the court house to look for tax liens and foreclosure notices.

My question I guess is what should I be doing to get to the bottom of what’s happening with the property?

My wife and I are complete novices and have been reading and listening for a solid year. We are ready to make our first move into real estate.

Thanks guys!

@Dan Sheeks what free online group do you support in your post?

@Dan Sheeks the article link is broke for me. Thank you for sharing

@Tanvir Sattar what are these available tools you speak of? I am going through threads collecting tools/resources.

Just wondering, I know small business got a pretty good tax break (20k off the top) with that Trump reform. Wouldn't an LLC for property be able to take advantage of this?

I like this thread, I was planning on doing an LLC but now it makes me question a bit more. Definitely going to spend some time on this aspect.

@Corby Goade

Thank you sir, this is where I am at now. They said they could use her school as work history but we’ve ran into some issue. I’ve noticed when lenders hit an issue they don’t want to deal with they stop updating and calling back. Seems to be a trend. Thank you again