Flip - unexpected... - Posted by Scott Moore

Posted by JohnB_NJ on June 19, 1999 at 12:22:11:

Way to go! Scott.

Awesome feeling, isn’t it? Keep it up. I am addicted to this creative real estate stuff.

Good luck and the best of REI success to you!

John (NJ)

Flip - unexpected… - Posted by Scott Moore

Posted by Scott Moore on June 19, 1999 at 11:39:14:

I put a contract on 3 properties. A 2-Fam (which I just closed on yesterday), a 6-Fam (which I am working on today), and a 1 acre lot for myself to build my home on.

I put a 2 month closing extention on the lot to give me more time to work with the other 2 rentals. Then I extended it until July 9th.

The lot is $4500. My realter agent called and told me she had a buyer for the lot at $8,000 if I wanted. I said yes and a contract was signed with a $300 deposit and the commissions were only to be $800.

She will handle ALL the paperwork and the double closing. I will be making $2,700 on this deal ($2,000 after taxes) and I never owned the property. This is GREAT!!!