Hi Magda..haven't visited Myrtle Beach in a years, but kicking myself for not investing when I initially had the inclination.

The only issue I can see by initially circumventing your agent could potentially be "cut out" of the deal and/or their commission when you do end up writing an offer because the listing agent could argue that your agent was not "procuring cause" for your interest in the property since you contacted the listing agent directly and began negotiations. 

Then 95% of the time my contractor goes to the initial showing with me.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

In the event you miss calculated your equity potential, you should be fully ready and able to settle the transaction or be prepared to lose your initial deposit. 

Thanks for the initiative!

We were told initially our excellent credit would get us our requested amount across 2 personal cards and 2 business cards.

City of South lake has a ballot initiative for a vacancy tax to be voted on in November. 

Initial jump into understanding Real estate investing.

Can anyone provide some guidance on how to get started with investing in land and new construction projects, including key factors to consider and initial steps to take?