Flip This Wholesaler

Well, today turned out to be a great day. I showed the house before I met w/ the realtor, and ended up getting a full price offer ($113k contract price + 5k assignment). I met w/ the realtor to sign the new contract, then went home and faxed the assignment over to the title company. What a relief. It’s nice to know that all my hard work is finally starting to pay off.

I got two calls today. The first was from a postcard I sent out. The seller has a new house that he’s trying to get rid of. There’s only about 20k in equity. The other was from an investor I met a few weeks ago when I went to look at his house for sale. He was supposed to close on a house today, but his financing fell through at the last minute. Probably a blessing in disguise for him, because the numbers were not good at all. His estimated ARV was about 30k too high. He may have been using comps from the beginning of the year.

Friday night I’m putting out bandit signs with another investor. We are going to target the areas near the malls since this weekend will be a busy shopping weekend. I hate putting signs out, but it will be a lot easier if I have someone with me. In the past, I’ve always done it solo, and it prettty much sucks. I hope to get some calls from those next week. The month is almost over, and I would really like to get something under contract so I have some cash coming in next month. This last weekend I gave my notice at work (I’m going to finish the year out), so I really have to hustle from here on out. My buyers list is growing by the day, which I think will make it a lot easier and less stressful next time around.