Potential first deal!

[Michael Gavitt]

Hey all,

I think I have my very first deal in the works. Let me give you all the details and you can tell me if I miss anything in my sequence of steps of how deals like this usually go (no money down no credit distressed property flips)

Alright, I found one foreclosure in my immediate area for $19,000 market value is $42,000.

Now, I'm going to do my due diligence first to make sure there is not anything seriously wrong with the house (my father is an appraiser so that should help) then i'm going to call the bank directly and speak to the REO line and I am going to offer $9,850.

The only problem I see now is enough interested investor buyers. I'm going to tell the bank the offer is through proof of funds so I am thinking it is probably a good idea to have a buyer lined up first, right?

I got a number off craigslist, the "We buy homes for cash" people. I've tried looking through public records online but they all want a fee to see buyers. Am I headed in the right direction with this deal?

I still have to finish building my team for this as well. It would be so helpful if someone could tell me the basic team that deals like this require. Realtor (sort of?), real estate attorney, and title company is what comes to mind.