All Forum Posts by: William Alvarado

POF can be constitued by almost anything that shows verifiable funds allocated for the intent of purchasing specific properties in question. With that said I always suggest you get a trusted inspector with your interest at hand not the realtor/agent/seller if you do not have someone who you trust, find someone develop a relationship and designate his area of work (all inspections he would get) besides that you place the offer expiring within x amount of days you feel comfortable with and move forward if you feel comfortable, however you should make sure your investor is ready willing and able, I almost burned a few bridges when first starting out because of a few investors who got cold feet last minute.

Not for anything but my initial thought: Find a new deal, my second though: find a better deal. Great deals are far and few in between but decent deals come by pretty frequently if you can find a flexible seller.

Purchase it as your own, Im not familiar with Texas law but Im guessing if you purchase it as your own you would get lower rates and then begin looking for an invesment property!

Scott, I had many of these issues starting out, and many will ask for collateral or a really good deal should things go south they can take over the project and recoop. My theory is you cant be the best at your job if your job is to do everything. what you can is get a great licensed sub with a company profile, website (if possible) and resume with a portfolio (again if possible) and show the investor 1. you can delegate, and 2. you know your limitations, theres nothing wrong with having limitations, there IS something wrong with not knowing them. Also if you have a good licensed contractor who does not have a website, resume or portfolio but their work is great you can develop a relationship and tell them they need it if they want to establish a long term relationship which should always be the goal its terrible always having to source out a contractor and time consuming! hope this helps

The Proposal guidelines and content/format changes (should change) depending on the deal. I write several proposals and can tell you it is not a good idea to follow the same formula for all deals, just like each building/business is different the proposal should be as well, what I have noticed is that you can make a guideline for a "type" of deal (bulk reo, commercial office space, condo, etc) but not a uniform template, you will find yourself spending more time making adjustments to the template than actually writing it.