Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago,
How to make an offer on your first fix and flip?
Hello everyone, I'm a 25 year old college senior. With graduation approaching within the next year, I am looking for ways to quickly pay off my student loans and build extra wealth. I am thinking flipping a couple houses would be a great way to achieve this goal. I have currently found a business partner (aka my sister) and together we have 10 to 20 thousand to put down on a piece of real estate. In my area (Dalton, Ga) properties are not lasting long on the MLS. They usually become a pending sale or contingent within one day. My biggest question is, how do I go about sending in an offer? Also what if I send in an offer and then can't get the financing, does that make me look bad in the real estate world? And lastly we are wanting to use a hard money lender for financing and rehab cost. I would really like to get pre-approved for a loan before I start putting offers in, if this is even possible. I have googled pre-approved fix and flip loans, but I'm not really having any luck. If anyone has any suggestions or advice, please comment and let me know. All will be greatly appreciated!
Thanks!