Next Move(s)

[Miles Stanley]

I feel like we may be closing in on a property to BRRRR. I am hoping the owner will call me soon so I can get more info on the state of the property and set up a time to go look at it. By my reckoning, the next moves are as follows:

1. Speak with owner and get more information

2. If sounds good, set up a time to view the property and get an idea of the needed rehab

3. With my rehab scope in hand, get estimates from contractors and insurance quote over the phone (to refine analysis)

4. If still suitable, make an offer on the property.

5. If accepted, get bids from contractors, inspection, insurance quote, title policy, apply for loan, start closing process

6. If inspections and bids reveal major issues that make the deal no longer feasible, walk away during due diligence period.

7. If all good, close and begin rehab

Does this sound about right?

I do plan to get with some local banks ahead of time and see what they will offer me so I don't possibly get stonewalled when I'm deep into the deal.

Thanks for your opinions!