1st Flip! Found a house I want, what next?!

[Samantha Vialpando]

Hi everyone! After lurking and reading and listening to all the things, I decided to take massive action. 

I found a house that I (think) I want to flip in a neighborhood I am very familiar with. If I can get it at the right price, it will be a great first flip opportunity. It looks to be mostly cosmetic. It's been on the market for 158 days so I don't think it will go anywhere this weekend, but I am worried it will and my contractor can't walk the property with me until Wednesday next week. What should I do? Wait and hope it doesn't go under contract? I also want to use OPM, but don't have anything lined up. You have to have the deal before you get the money, right? I'm just stuck I guess at the right order of the steps I need to take.

Any and all hep is appreciated! Thank you!

[Caleb Bryant]

You don't have to wait until the deal to have money lined up. You can build a one pager of a fictional deal and ask private money lenders "If I find something like this, would you be interested in providing the capital?" With that said, if it's a deal then you can just build your presentation using the actual numbers and pitch it.