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?