so far so good on my first deal! - Posted by Carey_PA

Real Estate Investing
1

Posted by Greg NY on February 10, 2001 at 24:10:45:

Congrats to you! Next time i’m hoping to have my first deal online. Good JOB!

Greg NY

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so far so good on my first deal! - Posted by Carey_PA

Posted by Carey_PA on February 09, 2001 at 20:40:11:

Just wanted to give everyone an update on my first deal. I got a verbal approval a week ago on my offer from the seller, but today it’s OFFICIAL!! The signed contracted was faxed to my realtor :slight_smile:

So now, I’m assuming, my first sfh headaches will begin.

If I could just be assured that the appraisal will come thru properly I’ll feel relieved. (My financing is dependant upon this appraisal, obviously)

I’m getting (if appraisal is cool) $40k for the purchase of the home, $5k for repairs, and $5k to be put in an interest reserve account so that I can make my mortgage payments, etc. while I fix it up and then flip it!

I gave a $500 earnest money deposit and that’s it! If everything works out, I’ll be getting money back at closing!

I love this stuff…(my fingers are still crossed though)

talk to you all soon,

CAREY

p.s. i’ll be listing it for $85k and I will hold a small second to help out folks and make it look more attractive. (10% at the most)