Posted by SusanL on January 28, 2000 at 10:39:01:
nt
What a great day, what a great 2 weeks, what a great country! - Posted by David
Posted by David on January 27, 2000 at 20:16:30:
Had two settlements today where I was the seller and got all
cash…oh what a feeling! On last Monday had two settlements and next Monday have two settlements where I’m the buyer, one of which is a 1031 tax free exchange. And to wrap up next week there is another settlement. For a total of seven settlements in 10 work days. Not too bad, but I’m going for more.
The first settlement today was too easy, as I sold the house to the tenant of 4 years after they paid all the expenses for the last 4 years. I didn’t want to sell, but didn’t want to be greedy either.
The second settlement today nad to be delayed to take advantage of long term capital gains. Bought the property a year ago, did no work on it. Actually was to the property
only twice, once before buying and once after. Sold it for FOUR TIMES what I paid. I think that’s 400% annual return,
good enough as Lonnie says.
One other somewhat minor note: Deed Preparation. Around here its customary for the seller to have the new Deed prepared. Lawyers charge $75 to $150. Found an engineering firm that does it for $40 a pop. Come now! Its two pages that is mostly boilerplate. Even me the world’s worst typist can crank them out at a pretty good rate. It a do it yourself task for anybody with word processing.
David