First Deal Done!!

I just closed yesterday on the sale of my first rehab. Made 16k on it =)

Thanks for all the great advice!

Comments(8)

  • DurhamMagnate14th June, 2004

    Congratulations! Was the 16k profit on paper or did you get 16k cash at closing?

  • antkojm115th June, 2004

    Got 16k in cash at closing, along with the original 16k I put down

  • joymarie15th June, 2004

    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. :-?

  • cjmazur15th June, 2004

    if you put 16K in and got 32K out, are you accounting for the rehab and carrying costs?

  • antkojm115th June, 2004

    the total for my check/wire was 42,411.33, and I spent 10 in rehab costs...

  • antkojm115th June, 2004

    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.

  • rickomarsh15th June, 2004

    Way to go , now crank up the machine!

  • cjmazur16th June, 2004

    congrats on that deal.

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