I am starting this journal to be able to look back on my progress as I continue to work toward my goals. I will begin by describing what has been done since starting a few months ago.
I read both Be a Real Estate Millionaire and Profit From Real Estate Right Now 2-3 months ago. Since then I've gone through several real estate agents, most of which would not take me seriously. I finally found a team I can work with.
I am working a full-time job as a PC technician but because of my financial situation I am only able to get pre-approved for about $62,000, but I have about $8,000 saved for down-payment. I have talked to a lawyer who is on board and willing to write contracts to me. I have a team of real estate agents who specialize as a broker, an experienced investor agent, and a general contractor.
I'm located in Milwaukee county, Wisconsin. Taxes are a bit high, there are many dangerous areas, and the nicer areas are out of my price range. My agent sent me about listings for about 1000 properties and I've started narrowing it down.
1. Buy a house with a maximum price of $70,000 with a lot of equity.
2. Create LLC and establish business credit.
3. Use the business name for my deals. Focus on assigning deals to my list of buyers.
4. Purchase properties to rent out.
5. Sell properties
I look forward to keeping track of my progress.