My first deal! No realtor. What do I do now?

[Boyd Evans]

Hi BP! My wife and I are looking at what may be a great deal but are scared to death! I live in the seacoast area of New Hampshire and have the opportunity to buy a family members house, in the same town I live in, for just what they have in it. I'm excited about renting it out and starting my BRRRR strategy to success. I was hoping to not use a realtor but am floundering on where to even get started. I don't know how much the property is worth so I can't work the numbers to see if it's a good deal. I've scheduled an appraiser to come out next week, but they are $500! I'm wondering if this is the best first step or is there another way to get a value of the property?

Other things that I don't know... How am I going yo get the money to even buy the place. I don't even have a down payment!

I definitely know why it's taken me so long to commit to real estate! This not knowing (especially when there's money on the line) is scary!!!

Should I bite the bullet and look at a realtor? Maybe a partner? 

What do you think?

[John Warren]

@Boyd Evans I would definitely contact an attorney or title company (is your state title close or attorney close?). They can take care of the mechanics of the closing for the normal costs in your area. 

As for comps, just use realtor.com or zillow. Stay as close to the subject as you can (within 1/2 to 1 mile) and try to find properties that are similar as possible.