What To Do?

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Posted by Kat on October 31, 2009 at 03:06:41:
I am a newbie and I have been reading the wealth of information available on the different CRE forums. I am ready to try my hand at flipping, so I requested to view a property (condo) that is in a great area selling for $91,000 and the comps (guestimate) is around $138,000. I will confirm this with a realtor. When I meet with the owner of the property, other than general questions, are there any specific questions I need to ask from an investor's point of view. Since FHA/VA financing may be restricted due to property condition, it sounds like this may be a great investor deal. At what point do I get estimates for repairs and inspection, etc. including looking for a hard money lender or private lender as I am credit challenged and have no cash on hand. I read somewhere that I need to line up an attorney and accountant, in addition to a lender and contractors preferably before buying properties to flip. Any suggestions would be greatly appreciated.

Follow Ups:

Re: What To Do? Kristine-CA 12:30:11 11/02/09 (0)

Re: What To Do? DJ-nyc 06:05:32 11/02/09 (0)

Re: What To Do? Bob 21:47:22 11/01/09 (0)

Re: What To Do? Jon Zorrer 12:21:16 11/01/09 (2)

Re: What To Do? bob davis 22:00:25 11/01/09 (1)

Re: What To Do? Jon Zorrer 22:33:42 11/01/09 (0)

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