New to REI and I just got a call from a seller, now what?

[Yany Rivera]

Hi everyone,

I have recently started venturing in the REI world with the goal of replacing my full time employment. I have sent out flyers and I now have someone that has reached back and is interested in selling their property. It's tremendously exciting and at the same time I'm kind of freaking out. The seller mentioned that they are interested in taking a cash offer, but I don't have that type of cash available to me yet. I will be meeting with them next week to go over the property and where I can do an assessment of the property. My question is what are my next steps? I feel like I thought I would have a little bit more time to be ready but with a full time job, I don't know where to focus my efforts. I would appreciate any advice I can get. Thanks!

[Steve Vaughan]

Definitely go see the property and interact with your first seller.  That's awesome!  Remember the phrase "I will run some numbers and get back to you" or "I will check on that and get back to you."  That will buy you some time.  Then get back to them!

You can take this opportunity to your local meetup and run it buy an ethical, seasoned pro (not some shark, shady, greedy back-stabbing wholesaler- you get it, right?) for analysis. Be ready to share a little if necessary. They will probably jump at the chance to do that and the best way I know to bring someone else in that can help you.  Congrats and good luck @Yany Rivera!