The biggest blunder any investor can make in real estate is to shop too early for money, yet this is the most common mistake we see investors making in real estate. The rule of thumb is it’s much easier to shop for cash when you have a deal in hand and under contract.
Why? Because as long as that property is not under contract, it’s up for grabs by anyone and everyone and no lender will spend time and resources on a property that can be snatched out from under the borrower at any moment’s notice.
Putting the house under contract is an easy enough, 4-Step process.
- Step 1: Prospect and Review Potential Properties
- Step 2: Write Offers
- Step 3: Get Offer Accepted by Seller
- Step 4: Put Earnest Money in Escrow to complete the contract.
Once these 4 Steps are completed, you have a fully executed Purchase and Sale Agreement, the property is under contract, and you are ready to shop for cash. If you’re ready to move forward and receive a term sheet, then fill out the form at the bottom of the page and we will get back to you within 24 business hours.