MAKI Partners Weekly Update

Oh man, I can't believe it's been a mo nth since my last blog post! New commitment - one blog post every week for the next six weeks.

A recap of progress over the last four weeks:

• Talked to an experienced house flipper in Alvin, Texas, and got some great advice. I see this person is a potential partner in our first deal.
• Identified several local banks and scheduled appointments w/loan officers.
• Analysed our credit reports and formed a plan to improve scores.
• Conducted macro analysis on several Houston neighbourhoods.
• Drafted an 'MaKi Investment Proposal' template, to be used when approaching potential partners (see attached).
• Purchased website hosting w/ domain name and company email addresses.
• Determined that our end goal is large-multifamily investing, not single family.
• Determined that we need to flip several houses to build up the company bankroll for a 10+ unit property in Texas.
• Began mapping and analysing large-multifamily properties in our area (Alvin, League City, Pearland, Friendswood).
• Determined that we should wait until we get our first deal in hand before attempting to set up an LLC. At that point we will approach a REI-oriented attorney and do it the right way.
• Delivered specific search criteria to our investor-oriented RE agent

Recent challenges:

• Russell got sent to the hospital! (but he's fine now and feeling better than ever :)
• I discovered that my credit has been trashed! When we pulled our credit scores to take to the bank for pre-approval I found that my score had fallen from near 700 to 582 due to a small student loan that had come out of deferment without my knowledge. I submitted an application for retroactive forbearance and will followup this coming week.

Goals for next week:

• Walk into the banks and get that mortgage pre-approval, baby!
• Discuss options to open business account at bank without actually having an LLC established yet.
• Get list of multi-family properties in Alvin, Friendswood, Pearland, League City
• Establish relationship w/local wholesalers in area.

WEEKLY DEAL ANALYSIS! 

What do you think of this deal?  Anything missing in my numbers?  Would you do it?

(I realize that we can't read this info at the moment, will update w/ better images w/in 24 hours :) - Tom)