I Came Out Smelling Like A Fat Rat!.Yepee!

@classy56 (2883)
United States
March 5, 2007 7:07am CST
i found someone who need money fast.as some knows here on mylot that i flip houses sometime.anyway this person needed money real fast to pay taxes,this person had a house for sale an plus 30 acres in another county.she wanted $170,000 for the house an $50,000 for the 30 acres.i offer her $40,000 cash up front an will pay the rest at closeing.but my offer $200,000 for both.170,000 for the house an 30,000 for the land in the other county.she called an wanted an extra 10,000 cash an i said no way!.so i thought the deal was off all together.she call me a day later an told me she would go ahead an accept my deal.i have been working on this deal for a week now.the house is empty an it needs some work.but the good news is the neighbors next door was have an open house yesterday trying to sell their house,i thought that was a good time to put a sign up house for sale by owner.an it worked a few of the lookers from the open house came over an wanted to look at the house i was working on.the house i bought is a 3 story house,2.1/2 bath/4bedrms/liveing rm/dinningrm/familyrm with fireplace/an a full basement/2cargarage.this is really a great house.but im trying to sell it quick.for $210,000 or $190,000 if the buyer fix it up."if i fix it up it will cost me around {10,000}.this way ill make 10 or 20 thousand $$ an plus ill have the 30 acres to build new homes on.i also want to get the loan payed off quick.this is a great way to earn money.but now im feeling a little guilty.i took the neighbors lookers an i feel i stole the house an land.i have already received phone calls on the house who are very interrested.so do you think i should feel guilty.my son told me i did a good job of dealing with this lady an i shouldnt feel quilty at all.an it was only business.but this lady was a friend of mine.
1 person likes this
3 responses
@DADCARES (64)
• United States
5 Mar 07
Business is business...congrads you took care of business
@classy56 (2883)
• United States
6 Mar 07
your right business is business.an i was determine to get this house an 30 acres.
1 person likes this
@shambuca (2560)
• United States
5 Mar 07
sounds like you did good congrats & good luck!
2 people like this
@classy56 (2883)
• United States
6 Mar 07
thank you.i worked hard getting this house.
1 person likes this
• United States
6 Mar 07
And that is exactly why people need to keep real live cash reserves handy in a real live bank. Having the funds to pull this off is the key to flipping. If you have to get loans then the closing costs and interest will kill you. Congratulations on the find.