Tips that will help you quickly find properties and go under contract.

Welcome to the fourth installment of our Fix and Flip series, where we’re providing valuable insights into the world of real estate investment. Today, we’re discussing the crucial steps of finding a property and going under contract.

The first step in the process is to understand the motivation of the seller. Look for a motivated seller who has an important reason to sell, such as a job transfer, health problems, foreclosure, or an incomplete remodel or flip. You can also consider neglected properties. Identifying the seller's motivation will help you negotiate better deals and increase your chances of finding profitable opportunities.

Once you have a list of potential properties, it's important to act swiftly. Due to the competitive nature of the real estate market, time is of the essence. Conduct thorough underwriting promptly to evaluate the investment potential of each property. Remember, there isn't much time to make a decision on the best deals, so be prepared to act quickly. If you have questions on the underwriting process, check out or last video or reach out to us.

With your underwriting completed and a desirable property identified, it's time to write the offer. Be prepared to make numerous phone calls and submit multiple offers before securing a property. While this process can be time-consuming, the rewards will be worth it if you have done your underwriting correctly.

“Once you have a list of potential properties, it's important to act swiftly.”

Once your offer is accepted and you are under contract, the due diligence period begins. During this time, various checks for encroachments, easements, and other potential issues will be conducted. You will have the opportunity to run inspections and obtain hard bids on necessary repairs or renovations. It's crucial to ensure that your initial cost estimates align with the reality of the property. Failure to close the contract within the specified timeframe may result in the loss of your earnest money.

Navigating this process can be fast-paced and overwhelming, especially for first-time investors. However, remember that you don't have to go through it alone. When you work with a Good Company Real Estate agent, we will assist you every step of the way and handle many of these daunting tasks for you. We look forward to hearing from you soon.