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I know this was for Noobdog, but I thought I'd chime in..

Business models and plans, at least for me, are a good way to focus on your goals. I like getting down on paper what exactly I want to accomplish and the path to get there. I would think that if you are looking for investors that having a plan would be reassuring. Also, I find it easier to identify flaws in my plan if I "brainstorm" on paper.

My partner and I have done this a bit, writing down what kind of company we want to be and the like. As I continue to read and learn, jotting down ideas and steps helps overcome the tendency to forget something 2 seconds after it dawned on me...LOL.

I've been in businesses that had a plan and/or model and I've helped develop a couple. It's pretty easy and doesn't have to formal, just what you'd like to accomplish and steps you need to do so.

Let's say my goal is to buy a house. My plan is to clean up my credit, save money for a down payment, nail down the neighborhood I'd like to reside and find a house....etc.

Or, let's say I am starting a business. My model is how I would like to structure that business. Am I a sole proprietorship, or do I have partners and/or employees. If I have employees, what are their responsibilities and how does the hiearchy play out? Does it make sense to outsource certain jobs? What kind of reputation do I want my business to have? Am I a retailer, supplier, wholesaler, distributor, consultant, seller, investor, etc. What are my projected earnings at year 1, 5, 10..?

If you google sample business models, you get a slew of information.

Disclaimer: The above is how I see it. I'm convinced these things are open to interpretation and personal need/preference.

Fireman18, I'm sorry but somehow I missed replying to your post. Thanks for the invite, but we aren't quite ready yet.

Good luck!

Thanks for the welcome whytehouse!

Honestly, I hate infomercials and have never even watched one all the way through. I don't trust them. In fact, until I started learning about rehabbing and real estate, I didn't know what Carlton Sheets was selling. LOL

I'm a pretty trusting person, but a few miles of life have taught me to be skeptical of the easy buck. Some avenues are less work than others, but normally you have to put forth some kind of effort.

I've finished my real estate course lessons and all I need to do now is review and test. I decided today I'd listen to Robyn Thompson and see how she does things. Just put her next course on the mp3 player for the commute this week. I like the way she thinks.

I appreciate the offer of assistance. We are probably going to look for our first property in Grundy, LaSalle or Livingston county since that's where we live. Right now we are looking at rehab to resell, but not opposed to keeping a few for rental income if the numbers work.

Thanks again!

Thank you! I've got to work tomorrow, but hopefully we'll get there soon!

Whoa, I didn't mean to start a heated discussion!

I may be a little off, but it would appear that there are strong feelings on both sides of the coin.

Thanks again for all the input, it does help!

Thanks for the suggestions! I did check out the sidebar and it did look like most were a hike, but ya gotta go where the contacts are. I was working my 'pay the bills' job today, so lunch didn't work. I'll make sure we sit down this weekend and schedule a field trip.

Thanks again!

Hi Ryan. We've made a list of clubs we've found, but haven't checked any out yet. Any suggestions?

I actually know where Minooka is, that's progress! I've only been down here since the beginning of Feb, so I'm still finding my way around. Now that the weather is better I'm planning on putting a few miles in looking around.

Thanks for the welcome!

Here is why I think using a realtor is beneficial, especially for me:

We are new to the area and really don't know the market. There is ALOT to consider when doing deals and an experienced realtor will be invaluable. I was ignorant of all the information, laws and miscellaneous rules a realtor needs to know. I have a new admiration for them.

I will be completing the course, one more unit and 6 practice exams to go. It would be silly at this point not to. Like I said, I'm just wondering if I should go ahead, find a broker to sponsor me and take the exam. But I'm not going to worry about that at the moment and concentrate on finishing the course. Once I'm ready to test, I'll go out and talk to some agencies and see who I like whether I plan to work for them or with them.

Thanks lender. Focus is exactly what we need to do.

Thanks noobdog. I do appreciate your directness. I'm going to get to the point where I've got the same info running around my head as he does, then I can better understand what he's shooting for.

I know about all the responsibilities of the broker....the real estate course I'm taking goes over that extensively. This would be down the road several years, if at all. I'd prefer to have a solid network of agencies working with us, but again, this is down the road. The main goal now is to get our first house purchased, rehabbed and sold. That doesn't require me to have a license, just the ability to enjoy feeling like I'm running 90mph in the fog on a busy road. Time to get started!

Thanks again!