Today is my first day posting in my journal. I decided to use this forum because i ahve been reading about so many peole who are doing so well with the encouragment form members. I am not new to this site. I have been affiliated on and off for two years. I'm back with a new found desire to be successful. I actually have bought two books from Dean.I thought I had lost thie first one so I bought another one I have read and re-read several times and lately, I have referred to it for questions that arise.
I am a Liscensed Real Estate Agent who has been inactive for years. I have a great foundation from which to build,but I do lack the experience with creative structuring.I am the mother of three with one grandchild,so you see, I have to be able to provide for their future.They are such motivators.
I have made money on one deal. I am convinced that i can duplicate the process with proper guidance.
Let me update you on what I have done so far:
1. I pulled my credit, discovered I need to fisrt work on No money down deals until i can fix my credit. (it wasn't a dissapointment,I needed the reality check"
2. I selected an agent (more on her to come)
3. I have researched and selected 30 properties to submit contracts on.(waiting on agent)
4.Placed an ad on this site and Corkin.com
5. Made an appointment with closing attorney who did the last closing. I want to bring in all the forms for his review to make sure that they are clear and cover my ankles.
6. Made contact with contrator to help with repairs
7. Spoken with a Commercial broker who pays for deals
hoping to find properties for him at a fee
8. Composed my sellers list from FSBO,For rent,and several websites.
9.Developed buyers list from website :"I Buy Houses"
sent over my first five properties to be assigned or to leverage the equity.
10. Drove around to update sellers list from nearby neighborhoods
What I need now is to make sur I am on track and not disjointed.If I have forgotten any asoect please let me know. I do need clarity on what forms are necessary for an assignment or for sell of equity.I tried to locate Release of Fund document,but was unable to findit I remember seeing in on this site.
I've been up since 8:00, picking up fruit to deliver for my son's band fundrasier.
8:30-10:30 Got on this site, researched deals and checked messages
11:00 Drop my daughter off at High School
11:30-12:30 Coloring paages with my two five year-olds, don't want them to feel neglected. Lunch
1:30-2:30 Place more ads for properties and make flyers for the five properties.
As they day goes on I will be on this site to hear from you. From what i understand, i need
1.Purchse and sale agreement
2 Assignment of Contract/or Release of funds
3. Inspection Cotingency
Am I on the right track? If I am working with an agent and a bank, do I disclose my assignment plans or do i secure the contract w/or assigns first. Once I find a buyer, how do I back out of contract with getting stuck with having to close first with them and then doing a second closing? What about a Letter of Proof of funds? Is there someone who would help me for a small percentage? I need your guidance as I don't want to seem inexperienced!!
"I can do all things through Christ who strengthens me" Phillipines 4:13