My $1,000.00 mistake

5 posts by 4 users

Medium 1399689036 avatar marcp81 Marc Pfleger
Real Estate Investor from Saint Petersburg, FL
53 Posts
8 Votes
2 Awards

Marc Pfleger

Real Estate Investor from Saint Petersburg, Florida

Nov 08 '13, 04:29 AM


so I ended up selling my 2nd property to another investor and hit my goal for a target profit, however, I forgot the magic phrase NET to seller in the contract. When I purchased the property from the previous owner I agreed to no tax proration so the property taxes ended up coming out of my profit. It was still a good deal for me, but could have been better. I basically wholesaled this property.



Medium 1399704719 avatar gurumentality William T.
Wholesaler from Saint Louis, MO
337 Posts
38 Votes
3 Awards
Medium 1399721357 avatar hatya Chris Adams
Contractor from Leesburg, IN
595 Posts
263 Votes
4 Awards
Medium 1453244479 avatar johndrew62 John Horner
Lender from Columbus, OH
836 Posts
341 Votes
7 Awards

John Horner Verified

Lender from Columbus, Ohio

Nov 08 '13, 05:49 AM
1 vote


Great Post, I closed a wholesale deal 2 weeks ago and in the sellers contract I had "Buyer pays all closing costs", but in the buyers contract I had "Closing costs will be split", so me being in the middle had to cover about $1,300 in closing costs and title insurance.

You're darn right @Chris Adams , I will never make that mistake again!



Medium logo 5545John Horner, Core Developments LLC
E-Mail: [email protected]
Telephone: 614-664-3174
Website: http://johnbuyshousesohio.com/


Marc Pfleger

Real Estate Investor from Saint Petersburg, Florida

Nov 11 '13, 10:33 AM


@Chris Adams you live and you learn, I most certainly will never make that mistake again. On to the next deal ...



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