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Updated over 12 years ago on . Most recent reply

Account Closed
1
Votes |
17
Posts

DFW Newbie- next step in process after finding potential deal online?

Account Closed
Posted

Hey guys ..

I'm a newbie, I've got great credit and cash for a down payment isn't a problem.

So, using the 2%50% rule I've found a SFR in a nearby neighborhood that merits a closer look. It's been on the MLS for more than two weeks but less than a month, and I've ran the comps, checked out the photos, etc.

What do you recommend as the next step?

Do I try to put down an offer with some kind of option period to lock it in while I do due diligence on the property (bring in a contractor to assess rehab while I continue to evaluate rents, loan options, etc.) or do I try to arrange an in person review of the house and assess rehab prior to making any kind of formal offer?

The main question is whether or not it's customary to simply make an offer based purely on the numbers, then do due dilegence, or the other way around? Or are there other options I'm not familiar with?

Thanks,
Bryan

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