All Forum Posts by: Danny Woodson

but as long as i dont sign anything, i am in the clear right? verbal offers are okay?

I have a partner who has the cash for us to fix and flip a home.  im trying to work something out where i can do most of the leg work while he does the financing.  In the past, we have both gone to check out the homes.

so i was wondering if it is possible for me to check them out myself and make an offer.

Basically what i am asking is, if my offer gets accepted but my partner does not like the deal can i back out of it?

whats the worst that happens if i didnt lock any of my funds up? just a bad name? could i be forced to pay any money? 

wow thanks for that info.... Never thought of that!

I have a whole construction team ready. They have real estate background. I got real estate background.

All we need is funding.

what are some creative ways to find funding?

any way to mix two hard money lenders?  Or finding people to lend? Any tricks that you may have tried in the past?

@Bob B.

are closing costs and sellers costs different? i thought realtors commission should be in the closing costs.

and what would the sellers concessions be?

comin back soon?

why cant bp help me out first?

what numbers are involed in the selling costs? and what contingencies?

and i just realized i contradicted myself by saying 110k purchase price and 95k max offer...

@Bob B.

140k arv.  i can pay all cash, no lending costs.. condo fees 275/mo prop taxes are 333/mo. transfer tax 1.5%. i estimated insurance as 200/mo utilities 100/mo

140k- 4 months of holding costs $5,932- first set closing costs 1650 (if i buy at 110k)- 15k repairs - 2100 (second closing cost at 140k) - 20k profit =

$95,318 M/O

is that accurate or did i screw something up

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