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japutt,

if you're just starting out, i don't think i would worry too much about a business structure. i know a lot of people are going to disagree. my feelings are that if your cash is that tight, and you haven't really started investing yet, then put that bit of cash into your first deal.
i don't plan on setting up a legal structure for my business until my 4th rehab. i'll be sitting on a decent amount of cash by then, since i'm re-investing all my profits (for now). by then, when you should be able to afford it, i would find a good RE lawyer (not just any general practice guy), and make him a part of the team. you'll need good legal advice from time to time. when you finally find some, you need to keep that guy around.
either way, the pre-paid legal can be a good deal, depending on your situation. but, if you're running a business, i would find 1 guy that you trust, that knows your business.

-dean

all cash,

you prior service? if you don't know what i mean, just disregard...

-dean

my bad. i thought you meant me. :D

hell, if that's all you want, you can go to realtor.com. that's easy to remember. it's the difference between what something is selling for, and what it sold for. i want to know what it sold for, how many days on market, avg price per sq ft, the highs and lows, etc. what they're asking doesn't mean anything until someone pays for it.

for generic research, while you're mulling over an area, it doesn't hurt to do it off the retail side of mls. most people on mls are using a realtor, that probably guided them to an avg price for that neighborhood. realtors are going to let you know if your price is ridiculous (they want it to sell so they can get paid).

-dean

mikeOH has a pretty good sense of humor. :D

-dean

when cops go into places that have operational meth labs, they have a hazmat team in plastic suits go in. meth labs are extremely toxic, and you will need a decon team to clean it out. i don't know how far you'll have to take it, but it might include pulling out carpet and some sheetwork.

i would definitely watch out, and determine the extent of contamination.

-dean

hey guys,

2 quick questions:

1) anyone read a magazine called "Property Investor?" i found them on the internet. any opinions?

2) anyone use RealtyTrac? opinions?

thanks guys,
dean

newguytx,

www.dfwrein.com is the HUGE local rei club. i check out the website pretty often, and they have some good stuff on there (but biggerpockets is still my favorite. promise!) a buddy of mine (that i met on here) has been to a few of the meetings, and he said they're really good. plus, tons of networking opp's.
best of luck!

-dean

I was hoping to be full-time by now, but life got in the way. New goal: Full-time by Nov 2008!

Edwinreiloans4u,

What are you specializing in? SFH's, multi's, commercial? I'm interested in SFH's, and 4plexes in the north Dallas/Carrollton area. Why exactly would I rather do business with you guys, instead of an established wholesaler. Or better yet, if I find my own deals, and get to keep that much more. What do you guys bring that differentiates you from the other guys with properties? Do you also do repair estimates, so I have an idea if a property is worth looking at? What's your construction experience? How good are your estimates?

-Dean