1st deal newbie Any Help would be very appreciated

[Michael Sockwell]

Other then a house hack this is my first deal.

I’m in Georgia so if any has any recommendations that would be Huge!

Found an off market deal with the owner elderly and living in another state. I have secured my financing by doing a cash out refi of my current home so I will basically be purchasing with cash. I have no idea what to use for a purchase agreement what it should look like, how I get it to him. Doubt he will do any type of E-signing. I’m sure some of the advice will be to speak to a real estate attorney. I’m going to go speak to the attorney closing my Refi as soon as I get Loan docs back from the bank. I am supposed to speak to the seller today to iron out the terms. He’s motivated and we are close on price.

ARV is around $147,000 rental comps are $1200-1400

We are closing in around $100,000

I’ve ran the numbers 100 times and feel very good about the deal I’ve just never bought real estate without an agent so I’m pretty nervous

And help from the BP community would be so helpful .

Also I want to set up an LLC for this purchase and I've never done one of those either. No clue on cost to maintain or start one

[Michael Sockwell]

@Bill Hampton

Awesome, do you have an hard money recommendations?