You think you can flip it. I would not touch that deal. Worst case-
Purchase 235,000 carrying cost 1.2% per month (3 months) 3,000. If you have to use a realtor getting out 14,000 + closing cost. So your in at 235,000 and to get out, you are at 252,000. Just some rough numbers, enough for me to say RUN. Maybe others will say differnt. I am not much into gambleing or big risks either.
Posted by rachel on February 08, 2000 at 20:18:58:
Hi!
I have a new house here that the builder is asking 235,000.
I think I can flip it for 260,000-280,000. He wants me to put money down at signing of the contract, he feels otherwise I can walk away and I’m not bound in any way.
How do I handle this?
I appreciate your suggestions!