Brian,I'm not a big buy-your-mentor person but do believe that having a step-by-step system is very helpful for keeping on track.

If I use it to put up a new apartment building, then I have all kinds of problems - oh he doesn't really have construction experience, or new construction doesn't have proven income....What if I just cash-out refi and put the money in the bank and do whatever I want with it when the bank isn't looking??

Step one: find a propertystep two: talk with the seller, find out their motivated, negotiate a price(couldn't they sue you for 'screwing them over'?)

Hello All,

I'm new here and have been lurking, reading articles, and listening to the podcast. I have 2 rentals, one has 50K in equity and cashflows $450 mo. The other has $35K equity and cashflows $250 mo. I have ...

I have emailed and called the accepted party telling them they were accepted and the next steps and they have not gotten back to me in the last three days letting me know when they intend to do this.

additionally, I never pay subs up front for materials until the materials are on the job, and insured.Great advice, so many seem to miss this step and can run into trouble with contractors placing mechanics lien's aginst your property.

I'll do it in as much of a step by step basis as I can.1.

I believe that they are extremely experienced rehabbers and know their market as well as anyone, it's more of a matter of how seriously they are going to take the partnership and if they are going to take the time to work with me step by step on these deals.Anyway I'd like to hear any thoughts as to how I should approach this or if you think I should just avoid this right off of the bat.Thanks!

Meaning, the loan is approved subject to the following criteria being proven true in formal underwriting.

It takes work to dig through all of the different possibilities, but that's the only way to do it, one step at a time!