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Updated over 6 years ago,
2 BRRRR Questions - Offers and Lending
Good afternoon everyone,
As I progress through my preparation for my first OOS purchase I'm convinced I want to BRRRR. Just got back from Indy a couple of weeks ago,. I feel good about the city, future, numbers, team in Indy and I feel 90% ready.
The two remaining areas where i am "hung up" on is in relation to lending and Wholesalers.
As it relates to lending, I have a 740 credit score, zero consumer debt and plenty of reserves for the sandbox in which I want to play for now. Should I still get pre approved? How can I get pre approved for something I don't own yet?
Secondly, as it relates to putting offers through wholesalers, is it possible to write an offer with an inspection contingency? How can I protect myself from losing an earnest money deposit without having had an inspector go out to the property but still tying it up under contract.
Appreciate the advice in advance.