Starting Out

[Michael W.]

So I am finally getting my feet wet.

I have been putting offers in on multiple properties for a month and a half & I finally won a Multiple offer situation. 

I am working with Streamline Funding out of Austin TX for my HML.

I have my first property under contract and just finished the inspection.

I will keep everyone posted on how things go.

The reason for me starting this discussion is because, I have been apart of this forum for over a year and some of the questions I had about the estimated costs of getting your first deal started, were never answered.

For example, Earnest Money ($2000), Inspection ($275), Appraisal($406), Closing cost($3000), having to put money into escrow for construction cost ($4000).

This is all for a hard money loan.

These are thing I am learning as I move forward.