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Updated about 2 years ago,
Financing Ideas for a Unicorn of a Deal -- THANKS!
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!!