After the Offer is Accepted

[Christopher Blanco]

I am working through some details and trying to understand the process of getting started in a Fix and Flip/ BRRRR hybrid real estate investing strategy. I think my biggest source of confusion is between the offer and the closing. Please tell me if I am wrong in my understanding on how this works:

1. My offer is accepted and the house goes under contract
2. In my offer, I put a 7-10 day contingency for due diligence on the property
3. I put up "earnest money" to hold the contract
4. In that 7-10 day window, I need to line up the following:
   • Ensure the utilities are on for the period in my name
   • Schedule a walk through with a either a GM or Home inspector
   • Begin to work through financing the deal
   • Get Bids from Contractors
5. Once the inspection is complete, I need to develop a Scope of Work and get bids from a Contractor
6. If all the numbers work out, then I pull the trigger on the deal

If my assumptions are correct, then my questions are as follows:

• How do I engage lenders without having a deal? I would like to know the likelihood of getting approved for a deal, do I need to identify a deal before that happens? 
• Can I interview GC's BEFORE I have a house under contract? If not, how do  get them in the property and bids back in that 7-10 day window? Do I just come here and ask for referrals?
• Can you REALLY schedule all of these things in 7 days?