All Forum Posts by: Santiago Goytia Zamora

An time sensitive opportunity came across my table for a purchase of properties in a bundle. Right now I am on the middle of a flip no more cash in hand to make an offer so my only option seems to be investors or a HELOC against my flip or my own house. The flip has eaten up 230k and needs another 10k to finish in the next 30-45 days. Floor is going in, paint is mostly done, then trim and doors. Kitchen arriving in 21 days. Hoping to sell the house for 300k. The seller of 22 properties is in a tight spot and needs his properties sold ideally within 60 days. I am wondering if taking such a risk would stretch me really thin or is there a safer approach to take. Out of the 22 properties 8 are rented. My current plan is make a conservative offer, pending financing so that I can get those 8 and have enough cash flow to pay my HELOC while not compromising the flip. Let me know if that is clear enough or if you have any more questions! Thanks!

Thank you guys! I made two phone calls today after reading this and it unlocked the next step which is getting a closing attorney/ title company. Now they are gathering docs. Abstract is getting updated and sent to a lawyer for a title opinion. 

I got a property with a partner. He offered to buy me out so we agreed on a price. He's getting a loan to buy me out so I am a little lost on the next steps. 

I got him to sign an offer for the agreed on price. 

Next I reached out to an abstract company to update abstract but I don't know what they need to add on it from me end bc I am selling (not buying and getting a loan).

I got a quit claim deed ready but I won't sign it until I get my money.

Do I need to get an escrow company involved? Does his lender need to reach out to me? 

fyi. My partnert to say the least was the passive one through the deal. Buying it, I pull the strings, flipping it, I did it all, and now selling it... it's been a process.... so I want out asap but being as careful as possible to make sure I learn and not leave anything loose. 

Thanks BP community!

Santi