I just closed yesterday on the sale of my first rehab. Made 16k on it =) Thanks for all the great advice!
Congratulations! Was the 16k profit on paper or did you get 16k cash at closing?
Got 16k in cash at closing, along with the original 16k I put down
Could you tell me how you structured the contract or I should say what wording did you use to get cash back at closing and can you get cash back at closing if you don't have a rehab project. Please help me with this. :-?
if you put 16K in and got 32K out, are you accounting for the rehab and carrying costs?
the total for my check/wire was 42,411.33, and I spent 10 in rehab costs...
joymarie, this was a rehab, I bought in april, and sold it again last week. I did not receive cash at the closing of the purchase. also, as far as closing on the purchase, I got the investor that sold to me to cover all closing in exchange for a non-refundable deposit.
Way to go , now crank up the machine!
congrats on that deal.
Congratulations! Was the 16k profit on paper or did you get 16k cash at closing?
Got 16k in cash at closing, along with the original 16k I put down
Could you tell me how you structured the contract or I should say what wording did you use to get cash back at closing and can you get cash back at closing if you don't have a rehab project. Please help me with this. :-?
if you put 16K in and got 32K out, are you accounting for the rehab and carrying costs?
the total for my check/wire was 42,411.33, and I spent 10 in rehab costs...
joymarie,
this was a rehab, I bought in april, and sold it again last week. I did not receive cash at the closing of the purchase.
also, as far as closing on the purchase, I got the investor that sold to me to cover all closing in exchange for a non-refundable deposit.
Way to go , now crank up the machine!
congrats on that deal.