I found a steal. The guy is wanting 30,000 for a partial rehab here, so I’m going to offer him 25,000/close in 30 days.
My question is, when we go to close, and say i pull 10,000 from the deal , is the seller going to know how much I will get from this sale ? Or will it be anonomous?
How would I be able to Close and the seller not know about what Im taking in ?
The title company said that they do double closings, and that they would both be in the room together at the same time. ??
Im still learning so Im a little confused with this whole process. Can someone explain the closing process to me more, and how they would know what I am going to make off this flip ??
I was going to charge the buyer roughly 35,000 for the home, but dont know if I should go higher. ARV shoule be around 60 -70,000 and comps are about 70 -80, but couldnt really get any good comp info so thats a estimate.
I want to keep it low, so I can make a good fast sale, but I also want to walk away with about 10 in my wallet so I can pay off some debts that I have and start fresh.
I am charging low for a quick flip, plus being my first deal just to get my feet wet, and bring in return busniess from my potential investor.
Any suggestions at all ?
Time is of the essence, as I am meeting home owner today at 3:30 to sign the PA