Spending too much on an initial operating agreement can be a waste as you may never find an investor to use it with OR that investor may want the contract to be re-worked with changes.My suggestion, and what I've previously done, is basically sit down for a week and do your best to construct your own contract.

I will have to get a loan for the house, I won't have cash, well unless I get it for dirt cheap.I'm torn between the two plans, but I have time to figure it out while I learn as much as possible.I have gotten a lot of optimism in this forum, which will keep my fire burning.I would like to do some mock deals, practice if you will, and I'm not sure if I'm going about that the right way.I have a record of a bunch of homes under 100k, all foreclosures, and I'm scouting them and hoping to follow them through the sale and see if I was close to the sale price in my assessment.

I created my own website for a very basic web presence.

Although I don't see a postcard option, I use a service called Mailform that basically lets you upload PDFs and mail them.

From what I understand many large institutional investors have basically overpaid for projects where they could rehab and then raise rents and occupancy.

Basically, all you need to do is make sure you are disclosing the fact that you are a realtor to all parties involved.

The house is built into a hill and the garage is basically part of the basement.

You may also pay "discount points" which are basically interest you pay up front to get a lower rate.

Although I find some people by word of mouth basically friends telling friends

Admittedly, this was 15 years ago, but it sure makes any claims of multi-billion bulk reo packages look like total hogwash.Theses were basically limited partnerships where RTC was the limited partner and lender, and another group was the general partner.