Posted by Bill K. - - FL on December 22, 1999 at 20:12:27:
I would suggest flipping your contract to another investor who has the money and experience to develop the deal. Make it an all cash transaction. Put down as little earnest money as possible.Like a $100. Try for 45-60 day close. No less than 30. Shouldn’t take long to find another investor is it’s a good deal. Sell your contract to him/her. You could make anywhere from 2-10K or more in very short period of time. Hardest part is finding the deal as anyone will tell you.
I would appreciate any help from experienced members regarding the flipping business. I am new and do not have too much money to invest. How do I get started? What are the issues to be considered? What kind of contract should I propose to the seller?(considering that I do not have a good credit to ask for a loan?). Any info will be appreciated. Anyone from Atlanta or anywhere that could give me some pointers?