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Fred Melendez
Member
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Posted: Wed Jul 9th, 2008 08:02 am |
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Hello Everyone!
My Name is Fred and I've been in the industry for 2 years and now looking into my 1st deal. I've worked with a succesful RE Broker and Now with a Mortgage Brokerage. I have developed a network of some Individuals of high net worth who would like to purchase income-producing property. I have established an llc to act on my behalf of ownership. I have a bit of an issue placing my offers. I have a contingency to provide any funds 30 days after acceptance of terms on LOI along with a Offer so I dont have to place anything down with my letter. I tried to talk to attorney's/re agents to place legitimate offers with the clause however,they seem to just look down, question/interrogate, criticize my goals.I'm not giving up, far from it. I would like to purchase apartment buildings/complexes for no less then $1 million by assuming the mortgage and using my network to fund the rest.Also rehabbing foreclosures to hold a seller second of up 45% of purchase price to generate more cash flow(thats what I want for the time being: Cash Flow). I need terms, price to be negotiated so I can get any estimates, appraisals and of course due dilligence done and then place funds once everything seems good.
Anyone have any advice or know of anyone who will be willing to mentor or agent/attorney that will be willing to work with someone like myself. I'll appreciate it
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