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BlogsFix and Flip for the "Poor" PersonFirst Offer DENIED!

Posted almost 14 years ago

First Offer DENIED!

Well that was short lived. It only took about 2 hours for my first offer to be denied. They accepted an offer above listing ($78,900) with 6 other offers available and only 9 DOM.


This means the other buyer wasn't an investor at least. It was a great learning experience and I'm glad I know how it feels to hand over $3k (in a check for EMD) and signing those contracts!


I'm ready! On to the next one... :D


Manuel

Comments (6)

  1. Charles Perkins I know, just this little bit I've done so far feels great. I feel absolutely confident for my first flip now. The only thing I was really scared of in REI is how these contracts looks/are. Now that I know that there's nothing to "fear" from these contracts I'm 100% ready to do this!

    Manuel A., almost 14 years ago


  2. Get enough no's you will find a yes. The best part is your getting some real life experience.

    Account Closed, almost 14 years ago


  3. Brian Hoyt Nice view point, I'll stay vigilant. Thanks for sharing.

    Manuel A., almost 14 years ago


  4. If it was non-investor there is a chance they will try to finance with an FHA 203K. If this is the case there could be problems getting the financing and it could come back on the market. At that time you might have a better chance of getting your offer accepted. Obviously you wouldn't sit on your hands and wait for that..just something to be aware of.

    James H., almost 14 years ago


  5. Shanequa J. HML :D

    Manuel A., almost 14 years ago


  6. How do you plan on funding your rehabs? http://www.forvipbyvip.com

    Shanequa J., almost 14 years ago