So, I finally got back in town late last night after a fantastic trip to IL.
I spent the first 3 nights hanging out with my Mom, and then headed to the city on Friday to meet with my mastermind group, the Flip VIPs.
For those who are newcomers to my blog, the Flip VIPs is a mentoring/mastermind group headed by Steve Cook (of Flippinghomes.com). I was invited to be a part of the group in January of 2008, along with 10 other investors from different parts of the country.
Along with having group calls once a month, and a one on one call with Steve once a month, we also have 3 retreats throughout the year where we get together to brainstorm about our businesses, set goals for ourselves for the next 4 months, and just have a good ol’ time..
I snapped some pictures at the retreat for your viewing enjoyment…
Lunch at Giordano's. Best pizza EVER.
Jodi Quinn
Steve Cavanaugh and Mike Ferris
Christina Ferris and Nate Andree
Shaun McCloskey and Steve Cook
Ginormous Pizza, Brian Meidam, Jerry Dalglish
Dinner at Gibson's Steakhouse (YUM)
Christina and Mike Ferris
Nate and Jen
Jodi and Me
Good thing calories don't count on vacation!
Jerry and Me
Shaun McCloskey, Brian Meidam, Bob Norton, Steve Cavanaugh
Me and the boys
Steve, Jodi, Jerry
Steve, Me, Jerry
Biggest piece of chocolate cake I've ever seen.
The Lady Flip VIPs. We rock.
Jerry and Bob clowning around
Cheeeeeese
Hehe
…………………………………………………………………………………………………………………………………………………………………
In case you couldn’t tell, we had a great time.
We also got some business done, and put the finishing touches on a project that we are all collaborating on. I’m not allowed to give any details just yet, but we’ve got something extremely cool in the works that I’m really excited about. 
So, anywho, that’s what I’ve been up to. Had a great time in Illinois. Between my Mom’s cooking and the dinners out in the city, I gained about 5 pounds, but it was definitely well worth it.
Adios Amigos!
P.S.
I’ll be posting another “Reader Mail” video in the next day or two, so keep your eyes peeled.
P.P.S.
I posted another article on the Bigger Pockets Blog last Thursdsay, check it out if you haven’t already.
P.P.P.S.
For those who have emailed me asking for recommendations on which wholesale course to buy, my choice is Steve Cook’s Wholesaling for Quick Cash. If you haven’t picked it up yet, you can go here to get it.
On August 17, 2009 at 7:51pm, Tim (ME) said...
Aw, come on Steph, what’s the big collaboration deal!! Tell us please! I can’t wait to see what big deal you guys are up to. The pictures look good, I’m glad you guys are still FlipVIPping along!
On August 17, 2009 at 8:19pm, Stephani said...
Hey Tim!
I’ve been sworn to secrecy.
It’s gonna be cool though, I swear…
Always nice to hear from you- hope you are doing well up there.
On August 17, 2009 at 11:07pm, Don Corson said...
As far as I am concerned, based on the level of integrity that you all display, the folks around that table should be considered the #1 and sole resource for Real Estate Investing Information in North America. All the others hypesters and posers (and master e-mailers) should just retire to a beach and wholesale virtually.
.
(I wasn’t paid for that endorsement – but always open to the idea!)
On August 18, 2009 at 5:58am, Stephani said...
Well that’s an awfully nice thing to say, Don. Thank you.
And I agree about the master emailers taking a hike. I unsubscribed from all of them after the SIMS launch. I think a lot of other people did too..
On August 18, 2009 at 2:33pm, Jerry said...
Well Ill have to agree w you there Don. hehehe.
That was the best Pizza ive ever had, and I love pizza. Ill go back just for a couple days of eating that stuff.
On August 18, 2009 at 2:48pm, Stephani said...
Or you can come to the one in Tampa.
Hehe.
On August 18, 2009 at 6:05am, Chad said...
I have finally decided to take action. I just purchased Steve Cook’s wholesale program. I read all of your blog posts from the very first one up to this one. It took me about 2 weeks, but you have definitely inspired me. I know it won’t be easy, but I am looking forward to getting started the right way.
On August 18, 2009 at 6:22am, Stephani said...
That’s awesome, Chad- congrats on taking the first step..
One of the best things about Steve’s course is that if you ever have any questions along the way, you can post them on his forum and they will always get answered. That’s how I got through my first few deals.
Feel free to post any questions here, too, and I will do my best to help.
On August 18, 2009 at 6:06am, Tim (ME) said...
Me too!! I unsubscribed from everything last week, that SIMS thing really did me in. Why do I feel like I’m standing on some cheesy used car lot as 20 salesmen in cheap suits all try to sell me a car? (I just watched The Goods last night so it made me think of that movie!)
On August 18, 2009 at 6:27am, Stephani said...
I know the feeling.
When I got back from Chicago, I checked my mail (regular mail, not email), and had two giant SIMS envelopes in my mailbox! SOMEBODY MAKE IT STOP!!!!
I’m waiting for a SIMS salesman to come knocking at my door…
On August 18, 2009 at 6:37am, Hugh said...
The Simps launch pissed me off also. I spent good part of last couple of days also
unsubscrbing to bunch of gurus that I thought brought something to the table. What got
me was the amount of emails from the same people. I had one from my state that sent me
six in one day.
Hugh
On August 18, 2009 at 6:43am, Stephani said...
Yeah, I was getting multiple emails daily from certain people, too.
I don’t have anything against selling, but I find it disrespectful to just keep rapid-firing the same crap to your list that everyone else is…
To each their own, I guess.
On August 18, 2009 at 12:31pm, Steve Cavanaugh said...
Nice pics Steph! Mike Ferris…Pic #8…Good Stuff!!!
On August 18, 2009 at 12:37pm, Stephani said...
Hey Steve!
Was great seeing you and getting to meet your adorable family.
Looking forward to the trip to WI..
On August 18, 2009 at 1:06pm, Steve Cook said...
Steph,
Awesome pictures. Thanks for sharing them! It was great seeing you and all the others. I’m proud of how far you have come!
Steve
On August 18, 2009 at 1:10pm, Stephani said...
Thanks Steve.
Couldn’t have done it without you.
On August 18, 2009 at 1:18pm, Brian MEidam said...
Thanks for posting Steph. That pic of Mike is a framer
On August 18, 2009 at 2:00pm, Kelly Miller said...
Nice pictures. I agree, the Mike picture is a classic. Cool shirts….are you guys making a TV show?
Thanks for the pictures Steph.
On August 18, 2009 at 2:05pm, Stephani said...
Hey Kelly. No TV show, but now that you brought it up, that sounds like a cool idea, too..
On August 18, 2009 at 3:52pm, Bruce said...
Steph, I like the picture of you behind Steve and Jerry giving them “ears” LOL
hope you liked coming up here to ‘Chicago ville’…next time I’ll meet you at Giordanos for deep dish – now thats good pizza! Hey before I forget, did you notice how many of the RE Gurus are based in Tampa? What is that, something in the water? see ya, Bruce – Chicago
On August 18, 2009 at 3:56pm, Stephani said...
Hola Bruce!
I’ll definitely have to look you up next time I’m in the Windy City..
Real Estate Gurus in Tampa? No idea what you’re talking about.
Hehe.
On August 19, 2009 at 8:34am, Shaun McCloskey said...
Wow! What a good looking group of people! How do I get in?????
On August 19, 2009 at 8:38am, Stephani said...
The group is full, but I’ll see if I can pull some strings with the big guy.
On August 19, 2009 at 8:59am, Hugh said...
Hi Steph,
I know you can’t give away any top secret ninja stuff. But what is the purpose of
the Flip VIP’s? What do you guys do besides eating? Sorry I’m bit nosey. LOL
Hugh
On August 19, 2009 at 9:17am, Stephani said...
Hi Hugh,
It’s a mastermind group plus mentoring by Steve.
We have the benefit of getting personal coaching from Steve, as well as the input of the rest of the group.
It’s awesome.
On August 19, 2009 at 9:38am, Hugh said...
I know that its got to be good to be personally mentored by Steve.
Maybe I can be the first charter member of Steph Flipping REO Vip’s in the future.
On August 19, 2009 at 9:43am, Stephani said...
I’ll pencil you in.
On August 19, 2009 at 10:27am, mike craig said...
Hey Steph’
I’ve got an REO question. I can put in offer on a REO at a very good price. In don’t have the funds to close. I only want to flip the house. The equity in the house is good. My problem is should I use a hard money lender. I tried a transactional lender and they want the next buyer to be firm. Any advice is greatly appreciated.
On August 19, 2009 at 10:35am, Stephani said...
I don’t think I understand your question.
Do you plan on closing on it if you can’t find a buyer?
On August 19, 2009 at 10:42am, Stephani said...
If you don’t plan on closing on the property unless you find a buyer first, your best bet is to make the offer using a letter from a transactional funding source and putting a financing contingency in your offer. Then, if you can’t find a buyer, you can still get out of the contract using your financing contingency because they will not fund your deal unless you have the end buyer lined up.
Make sense?
Keep in mind, though, that your offer will carry less weight the more contingencies you add. Also, if you start backing out of deals you will quickly ruin your reputation with the listing agents.
On August 19, 2009 at 12:40pm, russ L said...
Steph,
You should have went to Gino’s east, better than Geridonos. a buch of us titanium folks whent there. Maybe someday will be like the flip vips when we grow up
On August 19, 2009 at 1:17pm, Stephani said...
Yeah, sorry I missed you guys.
I was in the suburbs with my Mom until Friday morning.
Next time..
On August 20, 2009 at 1:21pm, Jerry said...
Thats a BOLD statement Russ. Now I have to go to Ginos just to see if you are right.
On August 21, 2009 at 11:10am, Russ L said...
Seriously Jerry, Gino’s east is much better than geridonos, dont get me wrong geridonos is good but Ginos is better, oh and itialian beef sanwiches are way better than philly cheese steaks
On August 23, 2009 at 5:33am, Bruce NJ said...
Did your change the color of your dress on the blog or is it my imagination? The design is great for this blog.
Bruce
On August 23, 2009 at 8:56am, Stephani said...
Hey Bruce,
The color and design of the banner at the top changes every so often from gray to pink.
So, no, it’s not your imagination.
Thanks for stopping by,
Steph
On September 12, 2009 at 11:41am, Tony Zamberlin said...
whats up steph?? i have a question. i’ve got everything pretty much lined up now! have access to mls, know how to pull comps, but just need to get an reo deal!! the ones here in anderson, sc. priced too high and no good deals on mls the last few days. I have a partner that puts up the earnest $ and pof and cash to do the double close, but he want half the deal once we sell it. you think thats fair?? also what pof do you use?? if i can get this maybe i can do my own stuff without him. thanks in advance.
On September 12, 2009 at 11:46am, Stephani said...
Hi Tony,
Most of the deals I’ve done were priced too high, too. I make offers lower than list price on properties that have been sitting for awhile, and that’s how I get a lot of my deals..
If your partner is putting up the cash to close the deal, then yes, I would say a 50/50 split is more than fair.
Another option is to use a transactional funding source who will fund the deal for you as long as you have your buyer lined up. They charge a fee for borrowing the $, but it will prob be less than what you are paying your partner. You can also get a free proof of funds letter from them to submit with your offer. Here’s a link: http://fundthiswholesaler.net/proof-of-funds/
HTH,
Steph