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Rookie to Real Estate Investor: Offer Accepted! Now What?

Offer accepted! Now what? As a rookie real estate investor, it can be anxiety-inducing to hear that a seller accepts your house offer. You’ve been working so hard to get up to this point, and now, you’re one step closer to closing on your first rental property. But what happens next? Are there steps that you should be following? And what should you be doing in the meantime as your closing date starts to creep closer and closer? If you’re in this situation (or are about to be), stick around! We’re back with our “Rookie to Real Estate Investor in 90 Days” series, as our mentees join us for some exciting news. Last time around, much of the advice from Ashley and Tony was “make more offers!” Well, the mentees have delivered, so much so that one of our rookies already has a house under contract just a month or so after starting this series! We first talk to Melanie, who began submitting short-term rental offers in Savannah, Georgia. She’s got some solid takeaways but is having trouble finding someone who will accept seller financing. Next, Brandon hops on as the first rookie to get a property under contract! With only a few offers sent out, Brandon has already agreed with a seller on terms but has questions about when to get a home inspection and whether title insurance is worth it. Finally, Lawrence joins us with a copy of Ashley’s newest book, “Real Estate Rookie: 90 Days to Your First Investment.” Lawrence has been making aggressive offers but couldn’t match a seller’s counteroffer with high-interest rate financing terms. All our rookies are inches away from getting their first (or next) rental property, and this could be the most pivotal point! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?... ~~~~ Join the Real Estate Rookie Facebook Group:   / realestaterookie   ~~~~ Find an Investor-Friendly Agent in Your Area: https://www.biggerpockets.com/agent/m... ~~~~ Grab Ashley’s New Book, “Real Estate Rookie: 90 Days to Your First Investment”: https://store.biggerpockets.com/produ... ~~~~ Use the BiggerPockets Rental Property Calculator on Your Next Deal: https://www.biggerpockets.com/rental-... ~~~~ 16 Tips for Getting Your Offer Accepted: https://www.biggerpockets.com/blog/of... ~~~~ The Definitive Guide to Using Seller Financing to Buy Real Estate: https://www.biggerpockets.com/blog/20... ~~~~ Use AirDNA for Your Next Short-Term Rental: https://www.airdna.co/bp ~~~~ Connect with Brandon: BiggerPockets: https://www.biggerpockets.com/users/b... Instagram: @brandon.diorio or   / brandon.diorio   ~~~~ Connect with Lawrence: BiggerPockets: https://www.biggerpockets.com/users/l... Instagram: @lawrence_briggs or   / lawrence_briggs   ~~~~ Connect with Melanie: BiggerPockets: https://www.biggerpockets.com/users/m... LinkedIn:   / melanie-wilmesher   ~~~~ Connect with Ashley and Tony on BiggerPockets: Ashley: https://www.biggerpockets.com/users/e... Tony: https://www.biggerpockets.com/users/t... Episode #263 Show notes at: https://www.biggerpockets.com/blog/ro... 00:00 Intro 06:18 Making an Offer! 11:27 Where to Find Short-Term Rental Occupancy Rates 15:02 Anxious About Investing? 22:42 Next Steps 25:35 Offer Accepted! 29:23 Is an Inspection Necessary? 34:30 When to Get Title Insurance 35:53 Next Steps 39:58 Shooting for Seller Financing 50:16 Next Steps