csprague's blog

What have I learned so far:

Confidence is the #1 primer for continued success. Mindset and knowledge make taking action easier.

I know that it has been out there already.. but locking in a property and putting up bandit signs all over "3/2 house area, desperate need to sell fast" to grab buyers was an "aha" moment for me.

Using a photo copy of your earnest checks and putting a stipulation on the agreement that "earnest money to be paid after satisfactory inspection" will by you more time to use your cash buyer to put all earnest monies down for you.

*rehab costs

Low (carpet, cleaning, etc) $10-$15 per sq ft
Med (low needs, and re-placing vanities etc) 16-20/sqft
High (roof repair, larger jobs -excluding major foundational repairs, serious plumbing and electrical)

so, I have a possible investor group in.. and maybe even a couple people in the family that could be my first investors.

I have a house in mind:

It is a short sale fair market value on the dean research site says 122k, it is listed for 99 on zillow, and my realtor has it listed for 79.

Maybe i am missing the most simple part of all this but if values are determined.. shouldnt' i just be able to apply a certain percentage say 50% of that value and make offers all day?

And then the offer, do i really just ask my realtor to bid 60k on this? I have never done the process before so how do I make sure I have 30 days to make sure it checks out.

Why not with my blog?

My wife and I are newbies, never purchased property before.. or even looked at real estate till now. We are hungry to get it started. I work in sales and have for the past 9 years or so, and Kether (my wife) works as a vet tech.

Our 30 days to real estate cash has come and gone, but we are here to figure out what it is going to take to take on real estate investing full time.

Being new we have hit some pitfalls, and gone from super motivated to not so much. Kinda funny how easily that can happen isn't it? Our first real snag was the need for proof of funds in order to lock in a property.

so if you have advise on that: love comments!