Happy (Early) Thanksgiving!

Wednesday, November 25, 2009

Hi Guys!

Just wanted to pop in and give you all a quick update before the holiday arrives…

It’s been like Grand Central Station over here the last few days.  I have about 150-ish signs out right now, and my phone has been ringing off the hook.  I decided to change the wording on them a little bit, after reading this HILARIOUS post (read it if you have a sec, it’s really funny).

Take a look at what my new signs say….

Foreclosure Sign1 400x266 Happy (Early) Thanksgiving!

They’ve been working extremely well, and like I said- my phone has been ringing off the hook these last few days.  My goal is to add 20 (TWENTY) new cash buyers to my buyers list by the end of the year, and at this rate, it shouldn’t be hard to do.   Aside from the deals I’m going after on the MLS myself, I have other wholesalers bringing me all kinds of good deals, so I figure I might as well take advantage of the situation, line up an arsenal of buyers, and make some easy money before the year is over, ya know?

Let’s see…..what else?

Oh, I got an email last night from the listing agent of the duplex I was talking about in my last post. I ended up getting outbid on it by another wholesaler, but it looks like they are going to back out of the deal. The agent asked if I would still be interested at my last offer price (22k).  I don’t know for sure if I’ll get it or not, but I know I have a buyer for it at 35k, so I’m keeping my fingers crossed.  I sold him another duplex earlier in the year right across the street, and he has been looking for more, so hopefully this will work out….

I’ve got another crazy day ahead of me today, and then tomorrow I’m having my brother and a few friends over to eat, drink, and be merry.  It’s the one day of the year that I actually cook (seriously), so it’s kind of a big deal for me. icon smile Happy (Early) Thanksgiving!

And that’s about all I’ve got for now….

I hope you all have the bestest, most delicious, Thanksgiving EVER! (And hopefully your turkey doesn’t turn out like the Griswold’s. Hehehe.)

[youtube]http://www.youtube.com/watch?v=cRyvbjhzGvE[/youtube]

HAPPY THANKSGIVING EVERYBODY!!!

Could not find style "section"16 Responses to Happy (Early) Thanksgiving!

  1. On November 25, 2009 at 7:49am, Gene said...

    Happy Thanksgiving,Steph! Good luck with the turkey! :)

    • On November 25, 2009 at 7:59am, Stephani said...

      Right back at ya, Gene. ;)

  2. On November 25, 2009 at 9:34am, Erby said...

    I might go ahead and try some test marketing with some new wording on my signs as well. Besides, if a Guru is doing it then it must work! LOL :) Don’t forget to make some cornbread with that Turkey Steph. Cornbread dose a body good :)
    .-= Erby´s last blog ..3/1.5 Brick Investment Property(((52K!!!))) =-.

    • On November 25, 2009 at 1:45pm, Stephani said...

      I’ve never been a big fan of cornbread, actually…

      Beer bread- now that’s another story. :)

      Have a great Thanksgiving Erby!!!

      • On November 26, 2009 at 5:22am, Shae said...

        Ummm…beer bread. :-) Happy Thanksgiving, friend! I’ll be looking forward to your post in a few days that talks about the deal you just sold to a new buyer!
        .-= Shae´s last blog ..An Attitude of Gratitude =-.

        • On November 27, 2009 at 8:10am, Stephani said...

          The beer bread turned out delish! :)

          Hope you had a great day, Sahe!

  3. On November 25, 2009 at 11:51am, Kelly Miller said...

    Happy Thanksgiving Steph!

    • On November 27, 2009 at 8:10am, Stephani said...

      You too, Kelly! :)

  4. On November 25, 2009 at 12:46pm, jp moses | REI Tips said...

    Happy Turkey Day, Steph! Hope you have a great one — and I’m not surprised your getting so many calls on your sharpie signs…great job, as always.

    …jp

    PS…He he he…Erby called you a “Guru”. YES!!!
    .-= jp moses | REI Tips´s last blog ..Controversial: Do Real Estate “Wholetalers” Offer Any Real Value? =-.

    • On November 25, 2009 at 1:47pm, Stephani said...

      Hey JP! Hope you have a delightful Turkey Day as well!

      P.S.
      Knock it off with the guru comments. ;)

  5. On November 25, 2009 at 1:00pm, Bruce said...

    Steph I checked in with your blog just knowing you’d have something funny posted today!….Here’s wishing you (and Jim) a VERY HAPPY THANKSGIVING!
    Bruce from ChiTown

    • On November 25, 2009 at 1:50pm, Stephani said...

      Hey Bruce- thanks for stopping by!

      Happy Thanksgiving to you, too!! :)
      Woof Woof! (Jim says “ditto”).

  6. On November 27, 2009 at 9:34am, Romao said...

    Happy ( black Friday )

    hope you are not in that crowd Today getting knocked around for a Tickle – Me- Elmo lol .

    I need your assistance I have just come across a Multi- Unit and it is a REO the problem is at this point in time my finances are not the best . I am taking care of my wife who is just recovering from a stroke . So you know credit is also not the best. I guess I would need the 123 of how to acquire the property for a rental .

    Thank You

    • On November 27, 2009 at 10:15am, Stephani said...

      Hi Romao- Happy Black Friday to you, too! I’d rather gouge both of my eyes out with an ice pick than go shopping today…

      To answer your question- if you want to purchase the property to hold and you don’t have the cash to buy it, you would need to line up financing if some sort- whether it be a conventional loan, hard money (probably not the best idea if you plan on holding long term), or with funds from a private lender.

      Whichever route you decide to take, you’ll need to have your funding lined up ahead of time, as the bank will want to see a pre-approval letter from your lender when you make the offer.

      If you’re interested in obtaining private money, I would contact Patrick Riddle- he’s an expert on the subject. His website is http://www.mustknowinvesting.com.

      Hope that helps,
      Steph

  7. On November 27, 2009 at 10:20am, Romao said...

    Thank You,

    Would it be better just to flip it , Then if so what is the best way to do that or how shouid I start out.

    • On November 27, 2009 at 10:45am, Stephani said...

      I can’t really say if it would be best to flip it or to hold it- that is up to you….

      If you want to wholesale it, you would need to put it under contract and then find an end buyer to sell it to. Do you have any buyers looking for multi family properties? If so, what price would you have to get this property at to make it attractive to them?

      I would recommend taking some time to study your market, line up some buyers, and once you have done that, start making offers. It’s much easier that way..

      Steph