Time lines for a noob

I have made a couple posts on this board already and am loving the information flow on here. I am hoping to lay out my current situation to see if you think I am on track and what my next few steps should be.

My father and I have decided to make the commitment to become REI, more specifically rehabing. We are both extremely handy and can do most all repairs ourselves.

Right now I have applied to form an LLC and am waiting on that. I understand you never want to purchase investement property under your own name. Mean while I am working on building my contact list of mortgage brokers, real estate reps, inspectors, appraisers, and a bookkeeper.

I have resently submitted my information to request pre-approval letters for loans. Is that premature? I haven’t looked at a home or even met with an agent yet. I have been looking for listing resources, auction companies, and every information I can find on the markets surrounding my area.

What are my next steps to make sure I have everything in place so that when I do start making bids I minimize my obstacles?

Not making sure you have everything in place before you start making offers.

If you’re not making offers, you’re not buying property. You don’t need an LLC. You don’t need a list of real estate reps. And you certainly don’t need a bookkeeper.

You need to find a property, and buy it.