Down Payments? - Posted by Rob

Real Estate Investing Real Estate Financing
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Posted by Sharon on September 13, 2003 at 10:16:15:

I’ve been doing some reading, however most books seem to talk about paying cash for a home to turn. Is it dangerous to put down 50,000 on a home to flip using a real estate agent? then hopefully selling in 3 months for profit?****************************

It would be absolutely “INSANE” to put down $50,000 on a house using a real estate agent, and then you say, you plan on selling house in 3 months for a profit!! LOL LOL LOL

You could just as easily find a motivated seller and buy house using the sub2 technique if the numbers make sense and everything else checks out, and flip the house in 3-6 months using a lender who doesn’t have a problem with seasoning, and/or assigning your contract to another real estate investor for a profit…

But you certainly don’t need to use a real estate agent and/or put down 50K of your hard cash money to flip a house in 3 months for a profit!

cheerz,

Sharon Jones
Real Estate Investor
St. Louis, Missouri

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Down Payments? - Posted by Rob

Posted by Rob on September 08, 2003 at 24:08:20:

My wife and I are inheriting approx. 500,000 soon. we are thinking of paying off the mortgage on our home which is about 215,000 then purchasing a home that needs work to flip.

I’ve been doing some reading, however most books seem to talk about paying cash for a home to turn. Is it dangerous to put down 50,000 on a home to flip using a real estate agent? then hopefully selling in 3 months for profit?

Thanks

Rob