312: Rookie Reply: The Seller Hasn't Responded...What Do I Do?

You recently submitted an offer on a house, but you haven’t heard back from the seller. Now what? As an eager rookie investor, the waiting game can be painful. You may already have an eye on other properties but need the capital to invest. Should you withdraw your original offer? Fortunately, Ashley and Tony have a few helpful tips to make your decision a little easier. Welcome back to another Rookie Reply! In this episode, our hosts tackle several important topics—including when to pull an offer on a house and whether you should create an LLC when buying your first property. They also discuss the biggest differences between single-family and multifamily real estate and which type of property is best for rookie investors to target. Finally, they talk about how to become a private money lender and the two important documents that should be in place before you lend a penny! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: Rescinding an offer on a house when you don’t hear from the seller Whether to buy a single-family or multifamily property for your first deal LLCs and whether you need one when buying your first property How to become a private money lender (and what you need to protect yourself!) The two documents that MUST be in place before lending money And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Hear Our Full Episode on Real Estate Partnerships Grab Your Copy of “Real Estate Partnerships” Today How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability Follow Mindy Templeton on Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-312 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices