Choosing Your Own Vendors When Purchasing a Property

[Mitch Graves]

I am new to property investments. My goal is to start on smaller multi-family properties and try the BRRRR method. While starting my research I had read an article on closing costs. It says to estimate 2%-5% of the loan value for closing costs. I'm curious to know if this is an accurate statement and if there are ways to narrow that down even more. Also, the article mentioned to reduce closing costs I should choose my own vendors as many times the financial institutions will recommend vendors that charge higher fees. If I wanted to start putting together a list of vendors of my own, what would that entail? I'm guessing some vendors would be lenders, appraisers, title companies, etc. However, I'm not sure what all I would need for a list of my own vendors. So I have two questions. What would be a complete list of vendors I would want to have? When looking at closing costs what is worth negotiating down or finding my own vendor for and what isn't worth the time to find my own vendor?

Thank you for sharing your experience and wisdom!