Think of it as having 2 jobs, one to pay the bills and one that will eventually make you rich.

My fear is that your rehab expense could include much more then just a simple paint job, which is going to raise your total investment.

Real Estate Agents and Short Sale Investors do not mix simply because the SS investor has no security that his/her offer won't be topped by somebody else who comes in 2 - 3 months after negotiations have started.The REA's job is to look out for the best interest of the client so they are more than happy to present a higher offer to the seller and why wouldn't the seller sign it.

Sorry, my mom is a Shakespeare buff and she would be proud :lol: So I was just about to go to the County Courthouse to file for an Assumed Name(DBA) but now I'm considering starting an LLC for multiple reasons and I'm curious as to what your opinions are.A little about me:I have not yet done a dealI have been studying for some time and I'm ready to get startedI have every intention of doing this full-time but I will not quit my day job until it's a realistic possibility(1-3 years)My only assets are my house which is homesteaded and a car with 100,000 miles and serious hail damage so I'm not concerned with asset protection at this pointI am interested in wholesaling/rehabbing(rentals in the near future)I have $10K-$20K startup capital I will be using Hard Money for my first several rehabsI have excellent credit (771)I am now thinking about starting an LLC in Texas(one-time $300 filing fee)for my rehabs because I want to build up business credit and season my company so I figure I might as well start now.Once I acquire rentals I will definitely setup an LLC but that is not an issue yet.Given the information, should I form an LLC or just do my first few deals as a sole proprietor and then get my LLC?

We might even bounce (dead-cat) small for a little bit.The next BIG leg down starts in the fall where $135-140/barrel crude really starts taking it's toll and the wide-spread job losses start occuring coupled with possible reduction in mortgage purchases by the GSE's (freddie & fannie) and the fed bumping rates up a tad to support the weak dollar.

Heres my situation, i have 45k, terrible credit, monthly income of 3500 as of april 08 (new job).

In fact, she has picked up another job to subsidize the month-to-month loss.

I am now looking to steam ahead full time as I was just made aware that the company I work for is cutting 9 jobs and I will be one of them as of this Friday 6/20/2008.

They have legitimate appraisers working for them, and they do a good job.

Meanwhile, use this as an education period, work hard at a job and save money like you are doing.