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Ahhh, it feels nice to be back in the swing of things..
I kind of fell off the face of the Earth over the last few months- locked away in my condo working on the new blog, and then the eBook.
I was a little apprehensive about jumping back in, but as it turns out, it’s just like riding a bike..
I spent the last few days touching base with all of my buyers, and also all of my wholesaler buddies. Turns out my buyers are still buying, and my wholesaler buddies are still wholesaling, so I’m back in business..
Murphy called me last night at around 10pm to let me know about a great REO deal he just got under contract. The property went to highest and best, and the agent sent him an email last night letting him know where he needed to be to get it (those damn dirty agents!).
This house is in an area that one of my favorite buyers likes, so I sent him the info on it last night, and he’s going out to look at it today. I should have an offer from him before the day is over. There’s not a ton of room on the deal, but if I can make a quick 3 grand for sending out an email, I’ll take it and run. 
Rinse and repeat, rinse and repeat..
I’ve got a list of properties to look at today, and also a list of potential buyers that I will be stalking…
Gotta run- later Alligators!
On September 30, 2009 at 11:47am, Chad said...
Until I am able to get somebody to do searches for me on the MLS, do you think looking on the bank websites themselves is a good idea. I have looked at a few so far and they do have REO links with the address, price and listing agent name. Do you think these are as up to date as what is on the MLS?
On September 30, 2009 at 1:20pm, Stephani said...
Hi Chad,
I’ve never used the bank sites, so I can’t say for sure how up to date they are. I doubt they are as good as the MLS, but better than nothing..
Have you tried Realtor.com and/or Ziprealty.com? Those 2 combined provide quite a bit of information. That’s what I used before I had MLS access.
Also, you can just call a Realtor up and ask them to run a search for you and then set you up with automatic email notifications- it only takes them a minute to do, and that way you don’t have to kep bugging them for listings.
On September 30, 2009 at 2:04pm, carlos said...
hey steph, do your buyers care what type of property it is such as frame,brick, size?. i know buyers always want brick, but do they care if its frame with lots of equity? whats your opinion on that? thanks!!
On September 30, 2009 at 2:07pm, Stephani said...
It depends on the buyer. Some will do frame, some won’t.
The guy I’m talking about in the post won’t touch a frame house no matter how cheap it is. He also won’t buy in the hood..
On September 30, 2009 at 4:42pm, Alison said...
Hey Steph! I hear you about the bike aspect, and how good it is to be back!
.-= Alison´s last blog ..getting into the groove… =-.
On September 30, 2009 at 5:41pm, Stephani said...
Hi Alison- nice to see you back posting again. Congrats on getting approved for a mortgage, and good luck with the house offer..
On September 30, 2009 at 5:56pm, Shae said...
“A quick 3 grand for sending out an email” — you go girl! That’s what I’m talkin’ about! I see getting back into the swing of things was easy peasey japanesey for ya
.-= Shae´s last blog ..No Monkey business but still grinding =-.
On September 30, 2009 at 7:25pm, Stephani said...
Ha. Would be even better if my buyer would CALL ME BACK.
On October 01, 2009 at 8:37am, carlos said...
hey steph, have you ever heard of any wholesalers finding success with wesite email blast to find buyers?, websites like myhousedeals.com or rehablist.com, let me know ,thanks!!
On October 01, 2009 at 8:35pm, Stephani said...
Hi Carlos,
It never hurts to try..
I’ve not had much success finding buyers that way, but it’s worth a shot- especially of it’s a free service.
Steph
On October 02, 2009 at 4:35pm, carlos said...
thanks, i also wanted to know when your buyer tells you they buy in a certain price range(example)40k. do you bring them deals under 40k or do they mind if its a little higher that 40k such as 48-49k? thanks!
On October 02, 2009 at 4:51pm, Stephani said...
Hi Carlos,
If they say they won’t go over a certain price in a certain area, then I won’t send them stuff that is over their limit, just under..
Steph
On October 03, 2009 at 4:33pm, Greg said...
Steph, lets say that you have a deal under contract on the MLS. And lets say you have a serious buyer that is interested but then realizes it was on the MLS and complains about that. He might say, hey you never told me it was on the MLS or hey, how come you’re trying to sell me this when I could of just used my realtor. What are some good things for a response? Thanks!
On October 03, 2009 at 4:41pm, Stephani said...
Hi Greg,
I tell my buyers upfront that it’s an REO and I’m wholesaling it. As long as they are getting a good deal and the numbers work, they don’t care whether it’s listed or not.
Steph
On October 04, 2009 at 6:26am, Matt K said...
Nice work Steph,
I wrapped up my first ever REO last week and should be closing on it Monday or Tuesday (we are ready to close…. bank is not). We will be rehabbing it but it’s good to finally get one of my REO offers accepted. We have been very close on several before… but they always seemed to go to highest and best and we’d lose the deal at that point.
.-= Matt K´s last blog ..Starting the Week off Right =-.
On October 04, 2009 at 9:11am, Stephani said...
Congrats Matt!
Keep up the good work.
On October 04, 2009 at 2:28pm, tony zamberlin said...
Steph,
I’ve got people bringing me leads from like 3 different counties!! Reo’s, tired landlords, etc. I don’t know my market 100% much less these other 2 counties. Would u toss them or try and learn at least one of the other counties??
On October 04, 2009 at 4:06pm, Stephani said...
I would focus on one area at a time..
On October 04, 2009 at 4:18pm, tony zamberlin said...
Steph,
You mean like county or zips?? my county is only 750 square miles and pop is 125,000.
On October 05, 2009 at 4:42am, Stephani said...
Either or. As long as it’s manageable.
On October 06, 2009 at 4:08pm, Mike C. said...
Hi Steph love the work you do. I hope there is something you can help me with. So i have a pretty good deal, im pretty sure of, which is a short sale in beautiful San Francisco for 590k and could be rehabbed for at least 900k and were looking at 100k in repairs. The bank, or the realtor, i really dont know at this point, wont accept a proof of funds letter from the transactional funding source im trying to use. They want to see a statement of some sort showing that i have the funds available to close. I dont have a statement or know anyone who does but do you have any suggestions on how to get around this one??? This would be my first deal i lock under contract so i really want to be able to come through on my part and make this deal happen. Credibility is everything and i can’t afford to loose not one bit of it.
Thanks a Mill Steph!!!
On October 06, 2009 at 8:20pm, Stephani said...
Hi Mike,
There isn’t a whole lot you can do if they are asking for a bank statement and you don’t have one. The seller has every right to ask for proof that you actually have the cash to close if you are making a cash offer.
You should be able to submit your offer with a financing contingency using the letter from the transactional funding source. It’s obviously not going to be as strong as a cash offer, but it’s better than nothing.
Steph
On October 06, 2009 at 4:10pm, tony zamberlin said...
Mike,
what transactional funding r u using?? what site??