Nice work saving a significant amount of money and reaching that 6 figure milestone, but you need to save more if you are looking to buy 10+ unit buildings.

All of this requires time which can and should be broken down into milestones, which can serve to "soften the blow 1-2 year close the developer is looking for.

Or milestones. 

Congrats on your first purchase 👍🏠 That’s a big milestone, the first of many purchases.

They should already have lender contact info and the good ones will handle most of the lender communication and will track & report requirements and process milestones. 

I can officially say a milestone has been hit:The interior of Unit 1 is COMPLETE!!! 

It's annoying when they're making easily avoidable mistakes or make mistakes on things they really should be much more careful about, though.I try to minimize "emergencies" in house by keeping track of milestones so that we have more time to address the emergencies caused by our vendors, haha!

You have to get tough with the stipulations you put in contracts for what we call a timeline for 'milestones, completion dates and charge-backs to your contractors for going beyond their completion dates.MILESTONES - Contractor will finish demo work by July 7, 2021, or there will be a penalty of $150 per day for non-completion of this milestone starting July 10, 2021 for each day until this milestone is completed.Plumbing and electrical milestone - Contractor will finish installation of plumbing and electrical work by.....or...Many contractors will walk when you present them with this sort of contract, but if your milestones are more than reasonable then deal with the contractors willing to agree with you.

The con of not using a real estate agent is you have to make sure you're hitting all the milestones written in the contract, such as inspection timelines, etc.

Again, I haven’t seen this rate lock doc yet (ask for it of course) but am surprised that the rate lock was the loan balance milestone and am curious if this is standard.