Experiences of a REI (NY style)

My successes and failures as I attempt to build my wealth through real estate investing.

Sunday, April 23, 2006

Goals for 4/23/2006 - 4/30/2006

1)Monitor the pre-foreclosure process.

2)Find my financials for our financing.

3)Be as involved in the purchase process as I can be.


Contract #1 Update

Well to put it simply it looks like we made a goof, or an opps. And unfortunately it is costing us some time. But hopefully it will not cost us this deal. We said that we would give the seller 3 points towards his loan (covers our downpayment). But when it got written we did 3 points of the purchase price, which was not our intent. So we are in the process of fixing that and hopefully making it right again. But I don't believe that this is a deal killer anyways. We shall see. Other than that little misfortune everything seems to be going well. We found a very helpful lender and we got a better interest rate than we thought we would get, so all in all everything is going smoothly I believe.

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