They lost a lot of good staff to other head coaching jobs and frankly the team has been pretty soft the last several years.

This is going to be a personal choice call with regard to risk and deisre to leverage. 5.4% is a pretty good rate compared to what you are going to be borrowing from a private lender so it might make sense to save up money instead of paying down your debts if you truly want to do a flip.Remember for most hard money lenders, and many private lenders you are going to have to have some of your own money in the game so you will need to save us some funds to execute your first flip, and also you need a contingency fund of ~$10k depending on the property to cover holding costs/unexpected repairs etc.

I would be fine with this, but I have my people to pay for executing the contracts, and doing due diligence on the property.

If it is located close to a college, then you might focus on students and staff.

One thing I haven't liked about 10,000 and less towns is that they are usually serviced by 1 major employer....and if some hot shot young executive comes in and decides to outsource the services of that town - there goes your entire portfolio.

Have a well planned strategy and execute it.

The controlling agreement is the first one executed, you could have 50 listing agreements in 20 days, each will have a protected extension for the broker/agent who was the procuring cause of the sale.

The attorney on staff reviewed the purchase contract free of charge since I am closing with them.

Now I just get to plan and execute and finally after being at a desk pushing paper for so long I can get some sun

Chuck,WHen submitting multiple bids, even 100 in one month, you are not actually putting up the $1000 or whatever your offered earnest money deposit (EMD) is, you are sending an executed contract with a copy of a check for the EMD amount and the contract should stipulate that the EMD will be provided within 3 business days of accepted contract.Therefore, you can make 1000 offers and offer $5,000 of earnest money, but until you get an accepted offer, you don't need the $5,000,000 in cash necessary to make that many offers.