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Updated about 2 years ago on . Most recent reply

User Stats

33
Posts
17
Votes
Sawyer Dina
  • Flipper/Rehabber
  • Cleveland, OH
17
Votes |
33
Posts

Financing Ideas for a Unicorn of a Deal -- THANKS!

Sawyer Dina
  • Flipper/Rehabber
  • Cleveland, OH
Posted

Here's the Deal:

We picked up a flip for $72,500 and the neighbor wanted to buy it off of us. His motive is to move his parents into this house because they are sick.

We have a signed purchase contract for $115,000 with no inspections, no contingencies, nothing... he is buying it AS-IS and has $10k in escrow.

We would use our own capital if we weren't building a new bank relationship and planning to refi out of a few duplexes next month.

We already have hard money lined up for this deal, but it doesn't make sense to take that route as we are literally selling it less than 30 days after we acquire the property.

Purchase Price: $72,500

Signed Contract Price: $115,000

Purchase Closing Date: 1/27/23

Selling Closing Date: 2/24/23

End Buyer has $10k in escrow and a signed purchase contract

Any suggestions would be appreciated!!

Most Popular Reply

User Stats

1,003
Posts
1,043
Votes
Owen Dashner
  • Lender
  • Omaha, NE
1,043
Votes |
1,003
Posts
Owen Dashner
  • Lender
  • Omaha, NE
Replied

Sorry, accidentally tagged Jesse instead of @Sawyer Dina in my last post. #sausagefingers

  • Owen Dashner
  • Loading replies...