Flip This Wholesaler

Well, I’m still over here waiting on the title search to come back on the land deal. If you listen real hard you can hear my foot tapping impatiently.  Can you hear it?

Not sure what the holdup is, but we should have an answer for sure come Monday.

Speaking of holdups, I’ve got another deal that I’m partnering on with a wholesaler friend of mine that was supposed to close this coming Wednesday, but it just got pushed back (or is it pushed up?) to the 15th of next month because the bank’s title co isn’t ready to close on time.  Shocking, I know.

Par for the course.

I decided to take the weekend off from work in order to celebrate my favorite holiday of the year: The first day of SPRING!  I suppose it’s not technically a holiday, but it is in my book.  The Air Show is in town this weekend, so Jim and I decided to head over to the park across the street, soak up some sun, and watch the Blue Angels from a distance.

I took some pics for your viewing enjoyment….

It was a lovely day.

I tried taking some pictures of the Blue Angels, but they turned out like tiny little black specks in the sky.  They’ll be back tomorrow- maybe I’ll try getting them on video.  So then there will be tiny little black specks on video.  Hehe.

Well, that’s all I’ve got for now Guys and Gals.

I’m off to listen to James Ray’s Harmonic Wealth cds.  I went to the library and checked them out for the second time.  Good stuff….

Hope you all have a happy, sunshine-y weekend!

Later Alligators!

P.S.
Be sure to check back here on Monday- I’ll be posting my second Flip This Success Story interview with Justin Wilmot (he made $8500 on his first REO flip)!

Well I’ll be a monkey’s uncle.

The investor who owns the land that Murphy and I are trying to buy ended up countering our offer of 50k with 52k!

Like I mentioned in my last post, I was expecting a counter offer of 75k, so this obviously makes me very happy.

I’m not crapping my pants just yet, though.

As it turns out, the guy who owns the land bought it at a tax deed sale (which we already knew from looking at the tax records), and never had the title quieted when he bought it.  Now, I’ll just be honest here and tell you I have absolutely no clue about tax deed sales or quiet titles, which is why it’s always good to have a title co/real estate attorney on board who does.

We’re having the title pulled on all 3 parcels of land right now, and hopefully it will all come back A-OK.  According to the attorney who owns the title company we are using, we should be good to go since this guy has owned the properties for 9 yrs and “Generally the rule is that title is marketable after 4 yrs….”

I don’t really know what the hell that means, so I’ll just have to wait until tomorrow to see what the searches turn up.  If everything looks good, we can close immediately.  Our purchase price will be 52k net, with a sales price of 75k net.  We’ll be doing a simultaneous closing on this one as opposed to an assignment because we don’t want the end buyers to see our profit.  You know, just in case.

Of course, I don’t want to get ahead of myself here.  Murphy and I don’t have the best track record when working deals together, but I think we both have some good Juju coming our way.

We shall see.

I’ll keep you all posted.

Later Alligators!

P.S.
Happy St. Patrick’s Day!

So, the investors from up North sent Murphy an email earlier today telling him they would pay 75k for the vacant land that they were going to buy last year. We kinda figured their offer was going to be lower than what they agreed to previously (120K), but didn’t think it would be THAT low. Geeze Louise.  What do they think this is, anyway?  A down real estate market where you can low-ball the crap out of sellers and get great deals?  The nerve of some people.

The investor who owns the land told us to email him a contract once we were ready to make an offer, so we sent one over a little bit ago for 50k cash. My ESP tells me that he is going to come back with a counter of 75k. Just a little hunch I have. I’ll keep you posted.

I’ve also got another JV deal that I’m hoping to get locked up tomorrow morning. The buyer is a new guy who recently found me through one of my signs (have I mentioned how much I heart my signs?), and he is buying up all kinds of properties in Tampa. I imagine we will be doing quite a bit of business together this year. Just another hunch of mine.

I have a few other things I’d like to write about, but I’m seconds away from passing out on my keyboard. I’ve been getting up at 5:30 every morning and running 4 miles on the treadmill, and it is really kicking my ass. Also, the whole Spring Forward thing is really messing me up, too.  Not complaining, though- I’m ecstatic that Spring is finally here after the long, crappy, sunshine-less winter we had this year.

Jim is happy to see the sunshine again, too.  He spent the whole day on the patio soaking it all in…..

Lucky dog.

Do you guys like how I said I was going to start posting more frequently, and then I didn’t post a thing all week?

I had one of those weeks where I woke up on Monday morning, blinked, and then next thing I knew it was Friday.  And I’m not even really sure what I did all week- it’s all kind of a blur.

The buyer from NY that I was supposed to meet up with on Monday ended up blowing me off, which made me really happy because I just LOVE having my time wasted.  I probably spent an hour on the phone with the guy talking about the market here and the different neighborhoods, blah, blah, blah.  Then lined up some deals for him to look at while he was here.  And then he just up and blew me off.  Awesome.

What else?

Murphy and I are in the middle of a deal that we thought was in the bag last year, but ended up falling apart at the last minute.  I think I mentioned it in a prior post but didn’t go into much detail…..  He has been working with a buyer from up North that is buying up all of the properties in this tiny little section of Tampa, with the intent of knocking the houses down and putting some sort of commercial property in their place.  They’ve already bought 4 or 5 houses in this area, along with some vacant land, and they are paying WAY more than your average investor would be willing to pay.  This is good for us, obviously.

So anyway, I hunted down one of the investors who owns several pieces of vacant land in the area where this group is buying, and sure enough, he was interested in selling.  We had the deal negotiated last year with us purchasing the lots for 89k, and selling to the out of state guys for 120k.  Weeeee!!!  And then the buyers decided at the last minute that they wanted to hold off, although I can’t remember what their reasoning was.  I think it was probably just to piss me off.  It worked.

As luck would have it, the out of state guys called Murphy a few weeks ago and said they were in buying mode again and asked him to bring them anything he could get his hands on in this little neighborhood.  The guy who we originally negotiated the sale of the land with is still interested in selling, and told us to make an offer.  We are just waiting on the buyers to give us a price so we know where to start.  They are supposed to have an answer  by Monday, so we’ll see.  I’ll crap my pants if it actually works out.

So that’s what I’ve got going on.

My quest to become a famous chef is still not going so well.  My latest creation, which I like to call “Olive Oil Overload” (O cubed, for short), quickly made it’s way into the garbage can earlier this afternoon.  I was actually thinking of starting up a cooking blog, but someone stole my domain name: EverythingICookTastesLikeShit.com.   Oh well.

Alrighty then, that’s all I’ve got for today, folks.

Have a great weekend Everybody!

P.S.
Fan me up on Facebook! All the cool people are doing it. Hehe.

P.P.S.
Is anyone else taking the Red Pill? I think it is phenomenal so far.

Hi Everybody.

It’s me, Steph Davis.

Remember me?  The one who used to update her blog regularly and not take off for weeks at a time.  Remember?

Truth is, I decided to go on somewhat of a hiatus last week from Facebook, the Blogosphere, and Gmail.  A social media/internet detox, if you will.

The result of my detox was a thorough ass-kicking of last week: One JV deal in the bag, another one being negotiated as we speak (this one is a non-REO deal that I will tell you about in my next post), and a slew of new buyers added to my buyers list.  One of those buyers just flew in from NY today and I will be meeting up with him tomorrow to see if we can do some business while he is in town.

Needless to say, I’m quite pleased with my progress, and have no intention of slowing down. Although, I do pinky swear promise that I will start updating more frequently.  You can hold me to that.

So anyway, let’s talk about this month’s Flip This Book Club selection (Get Off Your “But” by Sean Stephenson), shall we?

When I bought the book, I had never heard of Sean Stephenson and knew nothing about him or his story.  It wasn’t until I started reading that I learned of his genetic disorder.  For those who didn’t get a chance to read the book, Sean was born with Osteogenesis Imperfecta aka Brittle Bones Disorder.  He is 3 feet tall and permanently confined to a wheelchair.  When he was born, the doctors told him it would be easier to count the number of bones that weren’t broken in his body.  By the time he reached the age of 18, he had suffered more than 200 bone fractures.

Despite being faced with these seemingly insurmountable obstacles, Sean has gone on to become an internationally known public speaker, a clinical psychotherapist, and a role model and inspiration to millions of people all over the World (including myself).

Aside from telling his remarkable life story, in Get Off Your But, Sean also explains how to conquer insecurities and self doubt, and end the cycles of negativity and self-sabotage once and for all.  It’s kind of hard not to take his advice when you look at all he has achieved in spite of the struggles he has faced in his own life.  Here’s a guy who had every reason in the world to sit around wallowing in self pity, but when given the choice of viewing his condition as either a burden or a gift, he decided to view it as a gift.

Definitely an inspiring read, and one that I will keep handy for the next time I am feeling down in the dumps and throwing myself a pity party.  Sometimes a little perspective is just what the Doctor ordered.

For those who read it, I’d love to hear thoughts…….

Oh, and also- this month’s Flip This Book Club pick is Crush It, by Gary Vaynerchuk!  I’ve heard all sorts of good stuff about it, and have been dying to read it for the last several months.  Hope you all will join me in reading this one- we’ll meet here on April 5th to discuss.