Hello All,I want to get my first deal and Assigning a Lease option is hopefully going to be my fastest way to get it, as thus far wholesaling has proven to be such an elusive creature.I would like to perform this in the state of IL, I have done a ton of research and think I have a solid plan but would appreciate it if anyone can find any flaws in my plan or tell me where I am leaving myself open to risk.

Hi my mame is Jaroslav and i am first time loan buyer.I have purchased a non performing loan  for $2500 with UPB $60000 and house value $79000 in Ilinois Chicago and my Ofer  been accepted.Whats my biggest concern is the area where the house is.

It is a great field, and the challenges are endless; however, at least in California the CPM process and experience requirements are pretty extensive.

Also two weeks ago the Chronicle ran an extensive article in the Business section regarding the boom we are seeing in the natural gas industry and companies have made large investments and bought commercial property around town and other surrounding areas in regards to that industry as well. 

I think i get what you are saying...here's my take:For pro-forma purposes, yes, absolutely include the capital reserves as that is what you "expect to spend" in worse case scenarioFor historical performance purposes, then, you can make an argument to NOT include it since you never spent the money, but unless you distributed that money back to your investor, then you may as well include it toothat's just how i would do it...

I don't have a long track record, so he wants to sit on the portfolio for 6 to 12 months to make sure it performs as I project it to perform.

The appraisal for the house came in at $335 when we bought it, and we conducted what we thought, was an extensive inspection (including a separate termite inspection).

Just to clarify there are three services an agent can perform that have been discussed. 1) put the property in the MLS for exposure to potential tenants. 2) Property management for the one time act of locating and placing a tenant in the property. 3) Property management for the ongoing monthly management of the property.Sometimes 1 and 2 are not separable but in some areas they are.With regards to listing the property in the MLS, here there are virtually no rentals in the MLS so no one hires an agent just to get the property in the MLS.

Banks might sell you performing notes in the 90% of UPB range.Now non performing is a different story for regional banks and where the assets are located.  

So, with that stated, you formed your series LLC : in what state, do you operate solely in that state, if not where else, are you happy with the performance of the serie entity itself (I.E. the construct), Have you had to defend yourself using the construct, If you could do it again would you and how?