First Flip! All Set,, Waiting For Hard $ Response.....

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being a newbie, I am proud to say i have my first flip all ready to go...anxiously waiting on the lender...will close in 30 days!!! $40,000 profit and the buyers are so thrilled that they are happily going to do the small repairs needed!! please...where is that lender.....HELLO!! how long does a response usually take guys???? smile

Comments(2)

  • results_one15th October, 2003

    Hi:
    Congrats on your first flip!!! Would you mind providing the details of the deal? Since, I am a newbie myself, I love learning about creative ways to do deals. Unfortunately, I can not shed any light on hard money lenders, but I am sure you will find out all you need to know from this site.
    Good luck!

  • classimg15th October, 2003

    From your post, I am confused? Who is in the boat for financing? Usually a flip constitutes that you already own (not by contract) the property. If you are not the owner, you are assigning the contract for an amount. In this post the amount is 40K.

    A closing in today’s market – Chicago area (many refinances) they are taking between 30 – 60 days to close with another 45-60 days to contend with the backlog in the county recorders office.

    The lenders are backlogged with excitement and processing too. Call your attorney; sometimes they are the first to receive updated information.

    Good Job!

    Eric & Rosa
    [addsig]

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