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Hi Guys/Gals,
Sorry for the lack of posting…. I’ve kinda got a full plate at the moment.
Murphy and I are working on 2 deals together, so I spent most of the weekend trying to get those sold. Both of the deals are REOs that we’ve been after for the last few months, and the banks finally decided to cave. Sometimes, if we are going after the same properties, we will double-team the bank, and then when one of us gets the offer accepted, we’ll just partner on the deal 50/50.
Such is the case with these 2 deals.
I think I have a buyer for one of them, and he thinks one of his buyers is going to take the other.
I’m leaving for the Windy City bright and early tomorrow, so it would be nice to get both of them wrapped up before I leave.
I’m still waiting to hear back on a few of the offers I made last week. Most of them either got rejected or went to highest and best. I usually just drop out when it goes to highest and best, as I don’t like getting into bidding wars and I am never the high bidder anyway, so what’s the point?
Maybe I will start bribing the listing agents like everyone else does….You’d be surprised at some of the shenanigans that go on with these properties.
I think I’ll write a book about it someday. I’ll call it “The MLS Mafia.” Or something along those lines. I’m sure it would be a bestseller.
Hehe.
Speaking of bestsellers, I’ve also been busy working on my ebook, which I’m shoooting to have finished by the last week of this month. The 25th is the tentative date that it should be ready to go. Mark your calendars.
Oh- in case you guys hadn’t noticed- my transactional funding site (Fund This Wholesaler.net) is up and running! If you need short term funding for your REO and short sale deals, you can go here to get it. You can also get a free proof of funds letter to submit with your offers. If you have questions about how it works, check out the FAQ section for more info.
Well, that’s it for now. Jim is giving me dirty looks as I haven’t taken him out for his morning run yet, so I gotta go..
Have a great day!
P.S.
In case you guys didn’t see my post on Facebook, I’m pleased to announce that I am now a weekly contributor on Josh Dorkin’s Bigger Pockets Blog. You can check out my very first post here.
P.P.S.
To add me as a contact on Facebook, go here.
P.P.P.S
I’m trying to catch up on emails and private messages, so if you sent me one recently, I’m not ignoring you on purpose, I’m just behind. If you have a general real estate question, please feel free to post it on the blog, as I tend to answer questions here a lot faster than via email.
P.P.P.S.
If anybody has any information about that new SIMS product, please send it my way. I was searching around ALL WEEKEND trying to get details about it.






On August 10, 2009 at 9:09am, Ray said...
Hey Steph,
Long time no see! Looks a little different from the last time I stopped by. Love the new look.
I sent over a couple properties I think you might be interested in. Let me know what you think.
Take it easy,
Ray
On August 10, 2009 at 12:02pm, stephani said...
Thanks Ray. Got your email. I’ll call you later.
On August 10, 2009 at 12:53pm, Hugh said...
Steph,
I have plenty of information regarding the SIMS product. I believe this product will
be the next great thing. Just hate that no one is promoting this great opportunity. We really need to get the word out.
Hugh
On August 10, 2009 at 1:01pm, Stephani said...
Hehehehehe.
Please send me a link with more details!!
On August 10, 2009 at 2:08pm, Russ L said...
Steph, i think alot of people might have missed your sarcasim there
On August 10, 2009 at 2:15pm, Stephani said...
Hola Russ!
I’m pretty sure the people who have been reading me for awhile got it.
They are a pretty clever bunch.
On August 10, 2009 at 1:14pm, Hugh said...
I believe I may have one in my email box to send you. It may take me a while to find it.
I just hate that it not been promoted at all.
On August 10, 2009 at 1:24pm, Stephani said...
Great, I’ll keep an eye out for it in my inbox. Thanks for lookin out.
On August 10, 2009 at 2:18pm, Hugh said...
Got what? LOL
On August 10, 2009 at 2:20pm, Stephani said...
Hehe.
WHERE’S MY LINK!!
This a limited time offer, I’ve gotta hurry up.
On August 10, 2009 at 2:38pm, Hugh said...
go to…
itsbeenpromotedbyeveryrealestateguruthateversoldacourse.com
Hope this helps. I hope your not to late.
On August 10, 2009 at 2:44pm, Stephani said...
I tried that link, but the server was down.
I was redirected to holyhellifigetonemorefuckingemailaboutthesimslaunchi’mgoingtojabmyeyesoutwitharustynail.net
On August 10, 2009 at 7:29pm, Shae said...
Stephyouarefreakinhilarious.net
On August 10, 2009 at 7:32pm, Stephani said...
On August 10, 2009 at 2:47pm, Hugh said...
That link acutually works.
Be sure you opt in so you will get future updates on the Sims Product.
On August 10, 2009 at 2:48pm, Stephani said...
I opted in with all 5 of my emails accounts.
Just to be on the safe side.
On August 10, 2009 at 5:39pm, Jared Christiansen said...
Good ole Josh Dorkin! LOL!!! Tell him Jared says HELLO!
On August 10, 2009 at 6:44pm, Stephani said...
Hi Jared.
I’ll be sure to pass it along..
On August 11, 2009 at 8:48am, mobilehomegurl said...
Love the name of your new site, Steph – Fund This Wholesaler! You are a marketing genius!
Congrats on joining the BP board of weekly contributors, been sending folks your way who want to learn how to wholesale…Always a blast to read your blog!
On August 12, 2009 at 7:38am, Stephani said...
Thanks, MHG!
I can’t take credit for the name, though… my buddy Brian came up with it.
On August 11, 2009 at 8:03pm, Hugh said...
Steph,
Are you planning on posting your articles on here also?
Hugh
On August 12, 2009 at 7:39am, Stephani said...
Hi Hugh,
I’ll post links to them here as well as on Twitter and FB.
On August 12, 2009 at 1:45pm, Hugh said...
Steph,
I love the way you JV with other wholesalers. I hope you don’t mind me giving you this
suggestions for future articles but how bout you write an article on tips on how to JV with other investors. I believe that would be a great one to. You seem to have a good bit of knowledge and experience in that arnea.
Hugh
On August 12, 2009 at 2:11pm, Stephani said...
Sure, I can do that.
Any questions in particular you’d like me to address?
On August 12, 2009 at 2:50pm, Hugh said...
Glad you ask. LOL
What type of upfront paperwork and or agreemnt do you have in place?
What kind of questions do you ask to see if they are a true wholesaler?
Are you mainly leveraging each other buyers list?
Once they produce a buyer do you pay them for that buyer over and over?
Thats about all and thank you for taking my question.
Hugh
On August 21, 2009 at 11:35am, Thomas said...
LOL! You guys are killing me with the SIMS…LOL Anyway, Steph I have an REO/transactional funding question. My realtor wrote up my offer as 100% conventional financing which I thought maybe would work since it gave me a financing contingency, but now he is saying the listing realtor wants to know the apr and years and all this foolishness. Since its transactional funding it obviously doesn’t work that way. I called your buddy Brian and he said it would be easier to write it up cash, but I noticed you did tell someone else about the financing contingency before. Do you have any suggestions on the best way to write up a contract when using transactional funding? Thanks a bunch….and nice pics
On August 21, 2009 at 12:35pm, Stephani said...
Hi Thomas,
Yeah, it might be easier for you to write it up cash.
I haven’t written a financed offer in a long time (2 yrs), but I don’t remember them
ever asking me anything about APR. I just checked the box and sent in my HML letter along with my offer.
Does your agent know you are using a transactional funding source?
Steph
On August 27, 2009 at 4:58pm, Jamie said...
Hi Steph,
Sorry, another random question from me. I have been contacting multiple realtors in my area to try to find a few more to work with. I was a little distraught when one e-mailed me back and all she said was.. all I can say to you is good luck most people tend to fail at that type of invesment because to do assignments and double closing it is very difficult and you must have cash buyers to do so? Is any of this true? I am relatively new to investing and have been busting my butt to learn. I am starting out with wholesaing because I don’t have a ton of money to go and buy properties cash. Is any of what she said true? I don’t know why this just ticked me off. Thanks a lot.
On August 27, 2009 at 5:09pm, Stephani said...
Unless you like having your dreams squashed like a bug, don’t tell the realtors that you plan on wholesaling the properties. That’s none of their business, and all they are going to do is try to discourage you.
Just make sure the deals get to closing. That’s all they care about, and that’s all they need to know.
She was right about having to have cash buyers lined up, though. Either that or hard money buyers. You can’t sell to people getting conventional loans.
There are plenty of cash buyers out there, your job is to find them.
Steph
On September 19, 2009 at 1:53pm, Tony Zamberlin said...
steph,
im organizing a spredsheet and wandering what to put as my labels?? thanks
PS. also how to organize my offers via paper??