Flipping contracts - Posted by Tyler-Dallas


#1

Posted by Karen McCall on October 08, 1998 at 22:19:34:

Hopefully you are sealing with investors with scruples.


#2

Flipping contracts - Posted by Tyler-Dallas

Posted by Tyler-Dallas on October 08, 1998 at 18:04:45:

If we get a SFR under contract for lets say 1 month. And you are trying to flip
your contract to another investor. What is keeping the investor you are trying
to flip to from waiting till your contract runs out and deal directly with the
seller ? Of course you are not blabbing about how long your contract is.

Tyler


#3

Re: Answer: Competition - Posted by Stacy (AZ)

Posted by Stacy (AZ) on October 09, 1998 at 12:05:39:

Of course we would all like to deal only with investors we know are of high moral standard. But the real answer is that competition keeps you safe.

If you were an investor (rehabber), and I came to you with a screaming deal I had under contract, would you want to risk waiting until my contract expired before trying to buy the property? I have other investors I can call if you don’t want it. I’m giving you a chance before I find someone else who knows a good deal when they see one.

Stacy


#4

Re: Flipping contracts - Posted by The Baze

Posted by The Baze on October 09, 1998 at 07:07:18:

The last house I flipped, I didn’t even have under contract, until I had it sold. A lady told me what she wanted for her house. I called an investor I know who does rehabs and asked him to drive by and tell me what he’d give me. I even told him that it wasn’t under contract. It wasn’t a problem. Most investors that have morals know that you’re making a profit. As long as they can make the profit they like, they usually don’t care how much you make.


#5

Re: Flipping contracts - Posted by Greg Scott

Posted by Greg Scott on October 09, 1998 at 01:26:16:

I agree with Karen. Another point is that unless you’ve bought from a “sophisticated” seller, chances are the seller is going to get a headache thinking about the trouble involved with canceling one contract, entering a new one, and hoping everything goes fine.

Have you had this problem or are you just anticipating it?
Greg