I've found THE deal. What next?

[Matthew Daniel Langner]

I have been searching for properties in my area for a while now and I have finally found a property that seems to be a great deal! 

After speaking to the agent and running the numbers, I got this: 16% cash on cash ROI and $224 monthly cash flow. This beats my goal of 10% ROI and $100 cash flow.

What's next in the process for me? What do I need to do going forward in order to close this deal? 

Since I do not have the full amount for the downpayment, what would the best way be to present the deal to someone? What are the best practices?

I am looking forward to hearing what everyone has to say, thank you!

[Yoni Benimetzky]

Hey @Matthew Daniel Langner

I would usually run a comp report to make sure the pricing of what i'm looking at makes sense. 

Find a local real estate attorney.

Get the deal under contract with long enough of an inspection period to get your due diligence done.

Engage with a local lender that you preferably already bank with if you have that. 

Higher an inspection company to give you a report on the property you're looking at. 

Get a survey, run title, lien search, environmental report  

If everything checks out you should be in position to close (assuming you have the equity required)