Posted by Woodsong on January 27, 2003 at 16:30:45:
Title search should be less than or around $200. Very straight forward. If you are not a member of GAREIA, they are a great place to market properties to other investors. I think their web site is www.gareia.org
COngratulations. WHat part of town is this house in?
Newbie With a House under Contract - Posted by duverger
Posted by duverger on January 27, 2003 at 16:04:29:
I put a house under(in Atlanta, Ga.) contract yesterday closing in 45 days, I would like to flip the property and wall away with a decent profit. What is the best way to market the property and approximately how much it’s going to cost me to get an attorney to do title search. I have never been to a closing so I am a bit scared not knowing what to expect.
ARV=110,000 REPAIR=10,000 SALE=63,000 I GOT IT UNDER CONTRACT FOR 52,000
Re: Newbie With a House under Contract - Posted by Brent_IL
Posted by Brent_IL on January 27, 2003 at 18:36:04:
Try getting a good appraisal of the after repair value (FHA?) and running and for sale ad that says something along the line of “No Money Down. $110,000 house needs $10,000 in repairs to be just like new. If you make the repairs, I’ll make your $22,000 down payment.”
$110,000 - $22,000 = $88,000. $88,000 - $52,000 = $36,000. It might take a little longer, but it’s $25,000 more than your $11,000 mark-up.