Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal level Learn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are needed Know everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

If you sell your full interest you may get push back but contracts in MN are assignable unless otherwise prohibited.

Maryland is an interesting case in that legislation has been introduced each of the last 3 years....but with the short legislative calendar from a part time legislature, its been hard to push things forward.

It really depends on the condition of the property and your relationship with the agent.We bought an off market deal years ago and hired an agent to push paperwork.

We in private industry would expect heads to roll, massive layoffs and perhaps bankruptcy filings.  

You should see more deals and price reductions as we roll over into 2025 as well.If you need any help or have specific questions feel free to reach out or send me an email. 

See if you can roll anything into zero interest cc and knock off the higher interest stuff.  

Please keep pushing and sharing your progress. we are enjoying seeing your success in addition to learning how to pursue and analyze deals in different market sectors before blindly buying and learning the hard way.

Quote from @John Burke: Quote from @David CherkowskyNot necessarily that you'll have to bring money to get the LTV down but you will have closing costs on the new loan that you should be able to roll into the new loan.Do you have other debt that you can pay off to get your DTI under 50% instead of putting 20% down? 

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