House #16: Contract to Buy

January 9, 2010 · 4 comments

It’s official, we now have The Probate House under contract to purchase…

I’ll have more to say next week, and will also post some pictures. In general though, I think our plan is to do some very minor rehab to this house (clean up the trash, repair some exterior siding/trim, remediate some minor mold, etc) and then resell it to another investor.

While there is a lot of equity in this house, and it would be an easy project, it’s somewhat outside of our investing area. We know some investors who will likely be very interested in taking on this rehab as a flip, so once we close and get the basic cleanup done, we’ll contact them to come take a look.

Hopefully we’ll be able to get this deal closed within a 10 days…assuming there are no title issues, that shouldn’t be a problem…

4 responses to “House #16: Contract to Buy”

  1. Luis says:

    J, how have you been creating your “buyers list”?

  2. Steve says:


    What is your profit margin on a flip versus turning it to another investor?

  3. Chris Ranney says:

    Great job on this one. You have been working hard on this one for quite awhile. Its awesome to see your persistence pay off. Good Vibes brother.

  4. Matt K says:

    Probate deals are the Best.

    Hope you do well with it!!!

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