Day 10 - FlooredFlooring & Tile guys started a day later than we wanted which will throw the finishing touches "appliances, shoe molding, Final Plumbing, ect" behind as well.  

You will probably only get paid when deals close so keep track of all your leads and find investors you can trust not to go around you.Real estate agents would have to abide by different rules which tie all compensation related to real estate through their broker.Hope that helps.Have Fun and Make Your Own Luck!

Place yourself in the shoes of a tenant.

I started off in your shoes wanting to multis but over time my opinion has changed.

Kansas City has several things going for it right now that make it a great place to invest:1 Lower than the national average for unemployment.2 Lower than the national average for cost of living.3 We are the first city to receive Google Fiber which has sparked growth in the tech industry and increased property values.4 Missouri is a non-judicial state which means any foreclosures or tax lien sales are final; no chance of the previous home owner taking back your purchase. 5 Unlike most cities, Kansas City is not tied to one industry for its primary source of jobs which means economic downturns (such as the past 8 years) doesn't effect us as much as other areas of the country.

Originally posted by Bill Gulley: One of the better posts. ....sellers who are exempt still need to use the same prudent practices....I am exploring, Bill the exemption for home sellers in that they do one seller financing in 12 months.Category One Exception from the CFPB is for those individuals, trusts or estates who do just one seller carry back transaction a year on a property that has a dwelling that the buyer will use as your primary residence.For these folks:1. ) you can have a balloon in your note the buyer.2.) you do not have to prove or document their ability to repay.3.) the note must have a fixed interest rate for five years,4). and at the end of five years, the interest rate can increase no more than two points per year with a cap of six points above whatever you started at.You have to tie it to an index like a TBill or the prime rate in the beginning.Say you had a low equity seller looking to sell on terms.You get the seller involved with a lease option assignment.You lease with an option from the seller.You assign the deal to a tenant buyer, but have the tenant buyer see a RMLO, do a 1003 mortg app, have the RMLO write an opinion in their letterhead as to their ability to repay.Now the Seller can create a trust or sign as an individual, as an LLC, Corp or Partnership is Category Two Exception from the CFPB.I would love your opinion of this.Brian

Lending is covered under the UCC, federal and state regulations, which are closely tied together in various ways and a violation in one area can play on other regulatory issues, the new act is just part of the big picture.I realize that was not a simple answer, it's not a simple question as stated.HMLs need to know the new laws or be aware of them, sort of like driving down the street and knowing what the speed limit is, I can drive slow but I'll never know how fast I can go unless I know where the line is. :)

Are they tied to specific properties?

"Just Do It" (just dive right in) might be good advice if you're buying a pair of tennis shoes, but it is a terrible idea for starting a business.The bottom line is that you've got to do whatever it takes to learn the basics of the business if you want to succeed.

Your doing a great job keep it up.I was once in your shoes and being a "Finder" took me to the point where i now invest in small notes and make a little better life for my family.My goal is Investing in commercial properties.Dont let the "BigDogs"discourage you.