Someone from the company should perform a site visit of the property to do a thorough analysis and ensure eligible components are identified accurately.Licensure and experience: The firm should have licensed tax specialists and engineers and this is recommended by the IRS.Experience with your specific type of property: Not every property is treated the same whether it be office buildings, self-storage, restaurants, gas stations, mobile home parks, residential properties, multi-family, or car washes.

The first step is speaking with a loan office to get a better idea of what you qualify for, and then start figuring out where you want to live and analyzing deals.

Upon digging deeper I realized that the owner of the LLC has properties nearby(some have nice houses built), the LLC office is also nearby, and the owner has many other companies on file.

Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

I also make sure I make my desire to buy properties known to those working in the city offices, utility companies, code enforcement officers, police officers, and others who are in positions to hear about potential properties.

So far what I've done is I called the main line 219-755-3760 to the Treasurer's office and asked them to connect me to the Recorder's office.

There isn’t much to be made in terms of commission so many loan officers don’t want to mess with them, and any loan is going to have fees associated with it of course…how high the lender’s fees are and how low the loan amount is will factor into whether or not that loan is compliant and can pass as a qualified mortgage. 

My goal of becoming a broker is two fold:  1) Build a career with high earning potential   2) Use that income paired with the knowledge I would gain to invest. I understand  commercial brokers are not always allowed t...

I am looking to pull equity out of my primary for my first deal (which will be out of state LTR back in my hometown in IL) and my Loan Officer brought back these numbers.

Hold up.....Asking what the girl in the office likes?