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Updated 10 months ago on . Most recent reply

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My first flip is not going so well. Problems with seller.

Paula Hernandez
Posted

Hi everyone! First-time poster long-time reader here.

In short: 

My husband and I finally pulled the trigger on our first Flip investment here in the Tampa area. We made a quick cash offer and gave the owner 30 days to allow her to move out since the deal was done quickly. It has been 35 days now and she still hasn't moved and we are kind of freaking out as time is money and the lady is not very responsive to our calls and text messages. 

We have offered help moving, carrying stuff, and anything to make this process go smoothly but nada. I think we should act now, whatever that means..

What do we do?

Thank you in advance!

Most Popular Reply

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Bill B.#1 Real Estate Deal Analysis & Advice Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#1 Real Estate Deal Analysis & Advice Contributor
  • Investor
  • Las Vegas, NV
Replied

If anyone stays in past closing you hold a LARGE amount of money in escrow and charge 2x market rent. You want to be nice you make that first 30 days reasonable and then double it on day 31. 

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