The Road to 9-5 Freedom/ Entry 1

Ok I've located a nice property thats sits right outside detroit in a strong middle class city. Called the number and its supposedly owned by an out-of-state property management company BUT i went to the county tax website to find it is owned by someone else (I'll just call him Bob) THEN went to the county tax office in person and used their com. database to find the property is owned an llc company different from the out-of-state property management co.
I'm going to call the property management company on to clarify issues. Maybe the current llc is another branch of their company. Since I know its not an REO i'm trying to talk directly with the owner. I call the property management company to schedule a viewing. Since they have no locations in my state they gave me the combination to a padlock to open and view the inside of the property. The property is a winner, just gott get it under contract.
Called the property management co. to try and submit an offer. I ask to speak to the person accepting/rejecting offers and they tell me that they will send the offer to the owner (which means that they dont own the property) I wonder would I have to PAY for a title search on a property that I dont even have under contract to confirm official owner?

I definitely need tto call that property management company this Monday to straighten things out.

Not knowing what your plans are for this prop, wholesale,flip,hold etc. You should talk to a title company or attorney about a title search which you will have to pay for before closing. Again, not knowing your plans makes it hard to point you in the right direction...Jan

Thanks Jan, My plans are to start with assignment deals and do enough assignments to build funds to buy my own nice, profitable piece of property. I guess I have no choice but to pay to do a title search. I'm pretty sure its worth it but i just wished i had it locked on contract first.

Sorry haven't been writing as frequently but alot has occured since my last entry. I ended up calling the out-of-state property management company to submit an offer of 9,000, the next day they called and said the owner (an LLC company can sell at 12,000. Its a solid 1 story rancher in a nice neighborhood w/garage and attic.
After that phone call they emailed me the contract which already had the assignment clause in it. I assume they deal w/ a lot of investors. I messed up big time by not having a strong buyers list beforehand. The contract is voided after the 15th and I still have NO buyer. I posted craigslist ads and got about 15 phone calls- but everyone wants to do a land contract. I posted it for 14,000 and I have someone that can make a down payment up to 10,000- but still, no full price buyer.
I feel i didn't get a deep enough discount on the property (or maybe its just my marketing). I also feel like I tarnished my rappport with the management company, which has nice homes at deep discounts nationwide. Although I did link with another veteran investor who put an offer on the property. He may start paying me to find him deals in the future. Supposed to have coffee with him this Thursday.

At least you're taking action. Yeah, it's very important to build your buyer's list first.

It's good you are starting out at a young age. Hang in there!