Cash Out at Closing? - Posted by Greg NY

import · March 19, 2001, 11:41am

Posted by JoeS on March 20, 2001 at 06:32:51:

I might structure it this way:
ARV: $45,000
Minus repairs: $10,000
Sell. price: $35,000
1st note amt: $31,500
Sell 1st note for: $22,700
Profit at closing: $12,750 (minus recording fees)
There are other ways to do it, but cash is there at the closing.

import · March 19, 2001, 11:41am

Posted by Greg NY on March 19, 2001 at 12:41:54:

Hello,

Here’s the numbers:

45k-55k comps
7K repairs
10K offer (seller is thinking)
free and clear - moving out of state - 1 of 4 he owns

I’m looking to do my FIRST full retail flip. I have no clue how to get money at close. Can anyone shed some light on this for me?

How do I structure a deal to get money at close?

Greg NY