If you pay based on proforma you essentially assume this risk but turn over the rewards to the seller.There is one step that's missing though.

Step 2: Using the spreadsheetNow that you have the basic spreadsheet layout, what do all these lines items mean and how do you use them.

I know I want another property, preferably a multifamily is what I'm going for but I don't know my next step.

I think one of the most important steps is developing, maintaining, and focusing your goals, so that's good you've got a nice list!

Congratulations on such a big step Ryan!!

You charge an assignment fee to allow the investor to step into your shoes in the original contract. 

My first step is ask him what he wants to see.

@Cheryl Wilson joining this site is my first step.

That's just the beginning.Build your team including those that brokers know and have a good reputation.Get your business plan together that includes investment targets and criteria.Next step is to build long term lasting relationships with multifamily brokers. 

Hello BP Community, I’m looking to take that “first step” but unfortunately when i tried applying for a pre-approval i was denied due to my hIgh debt to income ratio.