You don't want to be careless with your money a jump into a bad deal but don't be afraid to learn the basics and execute."

Hi guys, I'm an new investor here in North Dallas and I've recently been looking for duplexes to buy and possibly house hack with or simply buy & hold.   The opportunities have been rather sparse, however, I recen...

I find myself in a position with a property that I never intended to own, (had to execute a deed in lieu of foreclosure from previous owner). 

Moving from NYC  back to my small hometown in the florida panhandle and plan to execute a 1 year live in REO flip or hold the property as a rental.  

I was a professional apartment complex manager for 11 years after being an executive secretary for 15 years.  

In the paragraph numbered 1 of the Love Funding Engagement Letter of August 20,2015 was this statement: LFC will have the exclusive right to represent Borrower in its application to HUD in connection with this project for the purpose of obtaining Section 223(f) mortgage insurance for the Loan and all meetings and correspondence with HUD will be accomplished solely through LFC.In the paragraph numbered 6 of the same letter, was this statement:Any amounts not used will be refunded or credited to the Borrower at the Loan closing.In the paragraph numbered 11 of the said Engagement Letter were these sub-paragraphs:(ii) Each party agrees to the use of binding arbitration administered by the American ArbitrationAssociation to resolve any claim for damages related to or arising from this Letter Agreement, the Firm Commitment or documents executed in connection with closing the Loan (the "Loan Documents").Borrower and LFC each hereby waives its rights to a trial by jury and agrees not to file any complaintfor damages, engage in any legal action or proceeding in any court, or appeal the outcome of a finaland binding arbitration.

A useful thing to remember here is the seller side of this transaction - the performance measures for Fannie Mae employees responsible for the sale of these properties are based in sales execution and time as compared to several independent sources of value.

@Jerryll NoordenI think every new wholesaler goes through the same emotions so be comforted that you're not alone :)  Since you are double closing, funders such as myself would need the executed AB contract and executed BC contract at the very least.  

These systems will give you action steps each day and let you know how to execute each step of the process. 

Spend time underwriting the sponsor and make sure they have a team that can execute and that their goals are aligned with your goals.