I’m ready! But I’m stuck at finances, help!

[Ryan C.]

I have my criteria to buy a rentals unit. I have the down payment. But I’m stuck in what to do now. Do I get preapproved? I have an off market house I want to try to acquire but I’m just stuck. There are so many options, I just need a little direction. Any mentors want a piece of a deal for 1-2hours a week of phone calls or text to help me with my first purchase?

[Jonathan Greene]

You aren't stuck, you haven't even begun. How do you know you have the downpayment if you haven't been pre-approved? Are you planning on using an FHA loan or conventional? Why would you buy an off-market deal when you don't even know the steps at this basic level. You are going to make a mistake like this. How much do you know about real estate? Do you know how to estimate the repair costs of this home? Do you know how to get the ARV of it? Will you have cash reserves for things that break? Do you have an agent? Have you ever had an agent? Why would you want to do your first transaction off-market and without someone helping you?