Posted by MIKE KNIGHT on April 20, 1999 at 07:27:58:
Can anyone give us an example of how to get your money from a retail flip.
I thought that getting your money at closing was fairly simple, but after reading some post by other board members I see that this may not be the case.
I have read Jackie’s articles but they provide little info on the retail flip. I have a deal that I am about to lock down and I wanted to know what problems I should be prepared for other than not finding a buyer.
More specifically, what problems will I encounter with the buyers lender and the title company???
I have a house that I’m going to tie down tomorrow with an option.
The numbers look like this
House market value is 240k
Option price is 210k
I will pay all closing when I find a buyer approximately 14,000.00
Leaving me with about 16k
How do I struure this deal so that it goes well???
Thanks as always