How to flip a house - Posted by Arlene

Posted by MrWi on September 08, 2003 at 08:36:24:

Just make sure when you flip the house that you are out of the way. You don’t want the house to come crashing down on you. That could hurt! Seriously, use an option to tie up the house and then assign your option for a fee

How to flip a house - Posted by Arlene

Posted by Arlene on September 08, 2003 at 08:33:16:

Hi, I found a real good deal on a house that I would like to try and flip to a rehabber since I do not have the money to rehab the house myself.

What kind of contract do I put on the house that will give me time to flip it?

How do I get out of the contract if the house does not sell?

What sort of money should I ask for?

thx

Re: How to flip a house - Posted by Randy

Posted by Randy on September 08, 2003 at 10:30:32:

Draw up a purchase agreement between you and the seller, in the name section put Arlene (last name) and or assigns. This allows you to assign the agreement to someone else. When you have a rehabber to assign it to you need an assignment form. As for the fee? what ever you want. $1k, 1% of the purchase price ? what ever you and the rehabber can agree on.