Making your FIRST OFFER

2 Replies

Create post

Say you have done the first crucial steps towards buying a rental property. I am currently on the buying step, where I have found the property, I have a hard money lender that will be paying for the house cash. I have gotten pre-qualified to get a conventional loan with 5% down. This happened last Wednesday, we are close to reaching a week since that happen, when would it be a good time to ask my loan company or realtor for an status update?

If you have already made the offer ask for an update now. If you are still trying to make your offer you need to call your realtor and tell them that is what you want to do. If you were clear that you wanted to make an offer a week ago and had all this in place get a new realtor. My suspicion is you may have said something along the lines of "I like this property" instead of "I want to make an offer"

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here