Lending process
Saturday, June 12
Cindy and I finally closed two real estate deal in Memphis this week. All I can say after going through this process is "Current lending process is taking a long long time".We located and started to process those two deals back in February. We communicated with banks back and forth numerous times...
Due Deligence Part 2
Saturday, May 01
As Cindy suggested, we actually went to Memphis TN to see the actual properties in this beginning of Feb. We went for two main reasons: Inspection of the target property and neighborhood and talking (interviewing) the property manager.1. Inspection of the target propertyWe realized that this proc...
Due Deligence Part 1
Saturday, May 01
After we selected the properties we liked, we started to perform actual due deligence for the list of the properties we would like to consider. We did:1. Cash flow Analysis - Annual net cash flow, ROI, Cash on Cash returns, Cap rate2. Comparable price of the other properties near the subject prop...
Our Journey has begun!
Saturday, May 01
At the end of December 2009, after studying investment in detail including reading books (tons of books), taking classes, and meeting with other real estate investors (Real estate investment club etc), Cindy and I decided to take our first step towards financial freedom: investing in our first re...