New to RE investing and need advice on first purchase

[Mikky Chanthavong]

Hi I'm new to RE investing and from all the books and vlogs I've seen I've never came across the order of steps I should take to purchase a fix and flip. I came across a property that meets the 70 percent rule but I'm having a hard time figuring out what I should do first or the order I should do them in. Do I put the house under contract, get it inspected, figure the rehab cost, then get funding? 

If anybody has any input I would greatly appreciate it

[Laura Alamery]

@Mikky Chanthavong

When you come across a property that you think meets your criteria, put it under contract and then do your due diligence: inspection, detail of rehab costs, financing, etc. 

Make sure you put the contingencies on the sale contract that will let you either renegotiate or back out of the contract if you have to.

Also when you put the house under contract, make sure you deliver the contract to a title company or attorney, with the earnest deposit, in order to show that you have a viable and executed sale contract. I would not order title work until you have remove the preliminary contingencies of home inspection, rehab bids and financing, unless you have reason to think that there are issues on title.