Updated about 5 years ago on . Most recent reply
What should I have ready to go once I find a property?
Let’s say I find a property the numbers work on. It just came on the market and will go fast if I don’t pull the trigger. I know my strategy and niche. I know the market I want to invest in. I have the 20% cash down payment. Suppose I don’t have a realtor selected, a lender, PM picked out, etc.
What else should I have already lined up and ready to go before making an offer?
Most Popular Reply
@Travis Gregory I think the first two thinks you need are a realtor and a lender. Everything else can come later.
A good realtor will help you look at properties, access the MLS for comps and new properties, etc.
You’ll need a lender on speed dial for when you find the right property. Not only will they do a preliminary review of your finances to let you know what kind of price range the bank will lend to you, but they’ll provide a pre-approval letter stating that they are planning (subject to 1,000 checks) to issue a mortgage on that property for a purchase price of $$$ (whatever you offer).
After that, then you can start working on inspectors, property managers, contractors, insurance brokers, etc etc etc.