Start working and stick with it, and there will be experienced investors on the way who will see your diligence and will lend a helping hand with your journey.

When I buy it will it hurt my credit to buy another property right off hand?

Thus far i've been listening to audio tapes and trying to get my hands on anything i can read to start out but i still have so many questions.

Hello Snooka,Let me welcome you to the forum and extend myelectronic hand to you in welcome.As far as S-Corp vs LLC, I vote for LLC.

I'm a loan officer, real estate agent, investor and anything that can make me some money.I'm just looking to network online a little bit, I mean if mostly everybody is online looking for real estate and mortgages, why not be there and give them a helping hand right.

If everything is completely disclosed up front (on the initial offer/contracts and not a later addendum threatening not to close after the fact unless you get money back), then it comes down to the lender's liability for allowing the transaction to occur.It's not mortgage fraud if the mortgage company is fully apprised of the situation and approved the loan with the contract in hand disclosing the terms of the money back, etc., with HUD reflecting the buyer receiving funds back...........As a rule of thumb if it's a strange transaction, don't do it!

The money changes hands and legal titles change hands which your lawyer will do for you.

But I really hate the thought of handing realtors 14k for what?

I have been reading everything I can get my hands on dealing with personal finances and investing, and am glad to have found this forum.

"Investors" in my area acted too fast last year and now some are having their butts handed to them, losing thousands a year because they can't get rent to cover their costs, and their places aren't selling.