URGENT AGAIN: Offer Accepted - NOW WHAT?
It's me again, with my urgent advice needed threads. For some reason these deals always creep up on me!
I found a property in New Providence, NJ last night. I saw it this morning @ 10 AM, i put in an offer at 1 PM, 7 PM the offer was accepted.
Whats next?
All of my properties are fix and hold for rental purpose. I have never done a flip... but it was a good deal and hard to pass on.
Purchase Price: 305K
Repairs: 80K
ARV: 560K
I have the financing figured out with a hard money lender which i guess is the most important process to start.
But now whats next?
I would like to do due diligence, what type of letter do i need to send to them to get things moving etc? I do want to make some changes inside the house, knocking down a wall etc. Im assuming i need an architect to get this done and get the permits taken out? What items should i be looking at, checking for in my due diligence before closing?
This might have been a big leap forward but im sure I can do this with the help of all the BP members!
Just to clarify, finding a crew to get all of the things done is the easy part for me. I am in the construction industry, i have renovated a few properties so that's not the issue. Its everything else in between!
Help?
Please.
Thanks
Dan