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Hi Guys and Gals- hope you all had a great week!
I had a blast on the bus tour last weekend- got to meet some really cool people, and came back to Tampa Monday night with a crazy little idea about returning to St. Louis in a few months and attempting to take down a wholesale deal or two while I’m there.
That wasn’t really the purpose of the trip, but after checking out the market for 2 days (we looked at over 40 houses, mostly REOs), I thought it would be a great experiment- like a 30 day challenge type of thing. I’m fairly confident I can pull it off. Didn’t Robert Allen or one of those guys do something similar back in the day? I think so.
How cool would that be to go into another market and test my skills to see if I could knock a deal out in 30 days or less? And how not cool would it be if I went there, failed miserably, and ended up making a total jackass of myself ?
It will make for some great blog fodder either way, methinks.
So anywho, I’m kind of excited about that idea (minus the jackass part), and I’m also working on some stuff with Charrissa that I’m super duper excited about as well. Not sure if you guys are familiar with her at all, but let me tell you- she kicks butt. Just trust me on that one. 
I snapped some photos while I was there for your viewing enjoyment….
We were out looking at properties all day Saturday and Sunday, and then stayed up talking both nights until close to 2am, so by the time I got home Monday eve, I was Whipped. With a capital W.
I didn’t get a whole lot accomplished on the real estate front this week, but plan on getting myself another deal before the month is over. I can do it, I can do it, I can do it…
And that’s all I’ve got for now folks- buenas noches! 
On January 23, 2010 at 6:10am, Craig Fuhr said...
WHAT??????????? Other markets? Did you not learn anything from my little 10 month fruitless excursion in Phoenix and Indy? I’m exaggerating – I did make some money, but not nearly as much as if I would have invested right here in ‘Smalltomore.
BTW – nothing would make me happier than for you to prove me wrong.
.-= Craig Fuhr´s last blog ..House Flip Story: Hamilton Ave – Update 6 =-.
On January 23, 2010 at 10:57am, Stephani said...
Hi Craig,
It would be for 30 days, just to see if I could do it. And I would love to prove you wrong, too.
On January 23, 2010 at 10:49am, john michailidis said...
Bring the “life jacket” Steph and you should be okay!
.-= john michailidis´s last blog ..Kicking Butt and Taking Names! =-.
On January 23, 2010 at 10:58am, Stephani said...
John Michailidis in the hiz-ouse- yay!!!
On January 23, 2010 at 11:52am, Nick@Subject2.com said...
On the road again, I just can’t help to be on the road again, making all kinds of dough.
That of course is a little freestyle
.-= Nick@Subject2.com´s last blog ..How To UnSuck Facebook =-.
On January 23, 2010 at 11:55am, Stephani said...
You got mad skillz, Nick!
P.S.
Your blog post title is intriguing- heading over now to learn how to UnSuck Facebook….
On January 23, 2010 at 9:16pm, Nick@Subject2.com said...
Thats why I come to your site with intriguing(sp?) blog titles b/c I know you’ll be intrigued
Oddly enough, you’re one of the higher referring sites to my blog so I see a lot of value in participating in the girl from FL overdressed for cold weather in Nellyville’s blog 
Whats with the scarf? I thought only people on t.v wear those
.-= Nick@Subject2.com´s last blog ..7 Craigslist Strategies & Time Saving Tips =-.
On January 23, 2010 at 9:46pm, Stephani said...
I was freezing my ass off, hence the scarf. Should have brought a parka as well.
Cold weather blows.
On January 24, 2010 at 4:15pm, Neil Uttamsingh said...
Cold weather does blow! Especially when you are in Canada!
Mind you, the winter has not been THAT bad in Toronto this year…
On January 24, 2010 at 5:49pm, Shae said...
Hey Steph, thanks for sharing the pics! Love the idea of you going and kicking butt in 30 days in St. Louis!
Nick, let me tell ya…when I was in Tampa with Steph you’d think that I was the one who grew up up north and SHE was the native Floridian. She was dressed WAY warmer than I was. LOL! Too funny.
.-= Shae´s last blog ..Did we hit pay dirt? =-.
On January 24, 2010 at 5:13pm, Stephani said...
Hey Neil- I think FL had a colder winter than Canada this year. I’m considering moving closer to the equator if it happens again next year.
On January 23, 2010 at 3:12pm, Chris Ranney said...
Hey Steph, St. Louis seems a bit far. Do you have a place to stay? If so, I would give it a try. It may be what you need. A little change of scenery. You could also try other parts of Florida. Good Luck kid!
On January 23, 2010 at 4:19pm, Stephani said...
Hey Chris,
My sister lives in St. Louis, so I would be staying with her (probably should ask her first, though). Would be great to get to hang with my little nephew, too.
On January 24, 2010 at 2:03am, Scott Costello said...
I’ve always wanted to go on a bus tour like that. Sounds like a lot of fun and a great chance to network.
If you could jump into a new market and journal your ever move to get a wholesale deal that would make for a great eBook. “Flip This Wholesaler, St. Louise Style” I’d by that for $19.95
.-= Scott Costello´s last blog ..A Book About Me?? =-.
On January 24, 2010 at 10:10am, Stephani said...
Hi Scott,
Yeah, the bus tour was really cool. She also lines you up with all of her contacts in St. Louis (realtors, contractors, prop management, hard money lenders, etc), which is awesome.
Great idea about the book- if I go, I’m definitely going to document the whole adventure (prob by video). I have lots of ideas about it, but nothing concrete yet..
Steph
On January 24, 2010 at 9:21pm, Matt K said...
The bus driver sure looks like Morgan Freeman!!
.-= Matt K´s last blog ..82 Lasalle St, East Longmeadow…. Finished and Staged =-.
On January 24, 2010 at 9:28pm, Stephani said...
He does in that picture, but he didn’t in person.
I wish you could see better, but the guy in the back row, 3rd from the left (with the gray hat on), looked EXACTLY like Philip Seymour Hoffman, except taller and skinnier. I wanted to tell him that, but figured he’s heard it eleventy million times so I figured it might be annoying and I just kept my mouth shut…
On January 25, 2010 at 4:30pm, Bill said...
Yep, it was Robert Allen. And yep, CC kicks butt. However, you’re quite the “butt kicker” yourself, so I expect that you will certainly prove Craig wrong
On January 25, 2010 at 4:43pm, Stephani said...
Awww, thanks Bill!
On January 26, 2010 at 5:23pm, Nick@Subject2.com said...
I just thought of something. I spend so much time in my boxers I don’t think I could handle the St. Louis cold weather
.-= Nick@Subject2.com´s last blog ..I Dedicate This Video to My Mother =-.
On January 26, 2010 at 6:37pm, Stephani said...
Get some of those footed pajamas and you’ll be just fine.
On January 26, 2010 at 6:32pm, Craig Fuhr said...
@Nick – I think I just threw up in my mouth!
.-= Craig Fuhr´s last blog ..House Flip Story: Hamilton Ave – Update 6 =-.
On January 26, 2010 at 9:42pm, Celeste said...
Hi Steph,
This is not really related to this particular post, but I have a question. I saw a sign today (not handwritten like yours) which basically read “3bd/2ba $1000 down, call ###”. I’m guessing this is another wholesaler/rehabber possibly? If you were a newbie like me & wanted to contact this person, what would you say to them if you’re trying to build a rapport w/other investors/wholesalers and/or buyers?
On January 27, 2010 at 7:40am, Stephani said...
Hi Celeste,
Sounds like they are selling with owner financing of some sort…
I would just call them up and be honest- tell them you are a wholesaler, saw their sign, and were wondering if they are looking for any more investment properties, and if so , what type (price range, location, etc). That’s how I do it…
Good luck,
Steph
On January 28, 2010 at 2:12pm, Gus said...
Hi Steph, I just start reading your blog and I can’t believe how well you’re doing! Good for you. Every story just give me hope. I’m investing in Detroit metro area and I called almost every title agency asking about simultaneus closing and nobody is able to perform that type of closing, they made it sound like it’s something illegal. Do you know any title agency or somebody in my area willing to do this? Thank you so much & God Bless
On January 28, 2010 at 2:17pm, Stephani said...
Hi Gus,
I always advise people to find some of the active wholesalers in their market and get a referral from them. If you start cold calling title companies, many of them are not investor-friendly and will not know what you are talking about.
That being said, there are some areas where you might not be able to find a title company who will do a simul close, so you might have to use transactional funding instead so you can fund the A-B sale between you and the bank.
Just find some active wholesalers and ask them who they are using and how they are closing their deal. It’s much easier that way…
Thanks for stopping by.
Steph
On January 29, 2010 at 10:12am, Gus said...
HI Steph, Thank you so much for the advice! . Can I ask you what do you mean by Transaccional Funding and how you ussually get it. Thanks again and Best of Luck! Gus.
On January 29, 2010 at 10:24am, Stephani said...
Hi Gus,
Transactional funding is used when you are wholesaling an REO or short sale and can not assign your contract so you actually have to close on the property yourself, and then sell it to your end buyer. There are no credit requirements or income verification, you just have to have your end buyer in place or they will not fund the deal.
It will cost you a few grand in fees, so you will have to factor that into your offers…
Here’s a link with more info….
http://fundthiswholesaler.net/
Hope that helps,
Steph
On January 30, 2010 at 8:29am, Luis said...
Well, there is only one way to settle the whole “investing in another market” thing…do it! I don’t know about you but I am one who learns by doing. As long as it is a calculated risk go for it and at the very least the benefit of it is that we all are going to learn from it, through you
You are right, back in the day (in the 90’s) Robert Allen took a challenge from a LA Times reporter where he had his wallet taken away, put in LA and challenged to acquire a property no money down in about 10 days or so. He did it, and the LA Times ran a feauture article on him. I betcha that had a lot to do with his book making best seller and the rest is history…
Just like you I also use my blog/site to post my experiences so others learn from them. One thing I have learned is that it takes a lot of courage to do what you do and “put yourseld out there” kind of thing. But it seems you have it down pretty good. I have learned that even reporting a “failure” although embarassing might actually give you credibility. I have also found other bloggers out there that only post the “good” stuff and leave the bad out, therefore presenting only a half view of how things really are.
.-= Luis´s last blog ..1/28-House #3 is Complete and For Sale! =-.
On January 30, 2010 at 4:50pm, Stephani said...
Wow, he did it in 10 days, huh? Pretty impressive. Did it have to be a good deal, I wonder, or just a no money down deal? I could probably pull that off in 10 days easily if it didn’t have to be a good deal…
Thanks for stopping by,
Steph
On January 30, 2010 at 11:55am, Celeste said...
Thanks Steph! I appreciate your willingness to reply to my post. One day I hope I’m doing as good as you are doing and can also post my many experiences to help others. Thanks for any future replies as well ‘cuz I’m sure I’ll be asking many more questions!
p.s. Good luck w/your out of state investments!
Celeste
On January 30, 2010 at 12:01pm, Celeste said...
See, I have another question already! I called on the sign I mentioned above (potential owner financed deal) and when I asked if they’re looking for any more invest. properties, she said no and they are only trying to unload the ones they have. I thanked her & told her maybe down the road she’d be looking for more and I’d touch base then. What would you have said when she told you what she told me? I’m wondering if I missed an opportunity here? Maybe I could’ve asked her if she was a wholesaler and helped her market her homes?? What are your thoughts?
Celeste Bueno
On January 30, 2010 at 4:53pm, Stephani said...
Hi Celeste,
It sounds to me like she might be a motivated seller, not a wholesaler. Maybe you could try moving some of her properties if they are good deals…
Just a thought,
Steph
On January 30, 2010 at 5:06pm, Celeste said...
Good idea about trying to move her properties, if there’s anything to work with. I’ll give her a call back on that tmrw. Thanks again!
Celeste