flipping help - Posted by Rick V

Real Estate Investing
1

Posted by SCook85 on December 22, 2000 at 17:46:34:

Rick,
You should first get the home under contract. As long as you do not have a contract on the home, anyone can purchase it.

Once you have the home under contract, then you can search for a buyer. You just need to assign your rights to your contract to your new buyer and you do this for a fee (your profit).

Before you actually put the home under contract you should check out the comps for the home. I know that you mention a home up the street that is for sale for $99,000- but “for sale” isn’t good for a comp. You need homes that have “sold” to determine the value of the one you are considering.

Hope this helps.

Steve

2

flipping help - Posted by Rick V

Posted by Rick V on December 22, 2000 at 16:23:11:

Any one who can help thanks, I’ve found a house in town(small town Tx) the lady wants $30’000 cash. Its a big 2 story that needs repair on 2 city blocks. I don’t have the cash for it but would love to flip it. My questions are how do I find an investor and how do I get it to close at the same time.One house up the road a bit bigger is for sale for $99’000. I,ve never done this before so any help would be great and very appreciated, Thanks again, Rick