Iv'e Taken The Plunge - I Think!
Greetings mentors!
Yes, all of you knowledgeable investors are mentors in some way. I have been a Freebie user up until today when I joined the ranks of the "paying" class.
I did this because I am ready to go out and do this! I have seen that we all have different avenues to traverse to get to the same place - financial independence. The wealth of information is a bit overwhelming at times, but well worth the price of admission. Thank you for letting me be a part of this community.
Okay, pleasantries done, here is what I have going. I know three families (in different states) that cannot get financed for house at this time. However, they can afford a home. Thus, I have committed to one family in Ft Wayne, Indiana to find them a house. I’m in Colorado by the way. I will buy the home “subject to” with at least a 3-year purchase clause and have the family do a lease/option to buy for one year. Right so far? Anyway, they found a house in the same school area (very important for them) but this one comes with a realtor. The house has been on the market for 165 days so I’m guessing that their contract may be over in 15 days or so. Also, I believe I have a motivated seller on my hands.
I just read in another post that John Locke has no aversions to us using realtors as part of our “team.” So, I will somehow have to arrange this so that they get some type of commission. No problem, the seller can pay.
Since I am active duty military (getting ready to retire in a few years), I don’t have a lot of money to put down for this endeavor. I will probably have to be very creative on this one.
Here is what I have done thus far (besides me studying my tail off):
1. I contacted the realtor and had him ask the owner if they will do a sub2 w/ assignment. He is versed on the process so I don’t have to get him up to speed.
2. I paid for All-Star Access to TCI
3. I posted this.
I opened the door to this vehicle. I sat down and adjusted the seat, mirrors and visor (sun was in my eyes)
I put the key in the ignition, and turned it to start her up..............................
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