Hello All,
Thank you for the DG Family. I am a newbie and looking forward to financial freedom. Being able to
go to a site like this is FANTASTIC.
After working many years at factories, truck driving,
construction, etc. I decided to work for myself. I started a modular home business (LLC) in 2000 for several reasons but mostly I needed a place to live so I started this business and used myself as its first customer (Guinea Pig).
The business did fair. I made enough to survive. I invested in a lot, sold it and built a small house for the buyer. That was great. I purchased another lot in a nice area and built my first spec house. This was a costly learning experience. I sold the house last year(08). You know what happened to the market. I had to carry the construction loan for a good while. That ate up a lot of profits. Having my own is business is great, but its the same thing paycheck to paycheck or job to job.
I am still in business but no jobs since mid 08. Real estate is what I like and being a REI is my ticket to financial freedom. I purchased Dean's book around Christmas 08. I am looking forward to doing my first deal.

My first offer to get accepted
Hello DG Family
I am new and exicted about REI. After reading BARM & about a 3rd. through the new bk. I started thinking a little different, I notice a house that was empty right around the corner from me. While making offers on other houses which were rejected I found out that the empty house was bank owned/HUD owned and I could make an offer, so I did.
My offer was accepted and less than the asking price. I was thrilled, I needed a small down payment and a funds letter which I got from Coastal Funding. It worked, this is great, I went to my bank where I have good credit and good standing asked for a loan, they gave me a flat out NO, NO WAY.I was shocked.
So here's my situation I NEED FUNDING.
The comps are 145000 -150000
75% LTV on 145000= 108750
House 80000
Repairs 10000
Cashout 18750
For a total of 108750
If anyone has any ideals on where to get funding please let me know.
Mike