Well, Hello!

Thursday, May 6, 2010

Well, I’ll be darned if it hasn’t been an entire week since I’ve written a blog post.  Sorry about that.

So, what the heck have I been up to?

Working my ass off, for the most part.  Also running my ass off.  I think I’m probably in the best shape right now that I’ve been in since I don’t even know when.  8th grade, maybe.  So, I’m pretty happy about that.

Oh, also, I’m being stalked by the Census Bureau.  Holy crap man, those people mean BUSINESS.

They came knocking on my door yesterday, which scared the living shiitake out of me since no one ever comes knocking on my door.  The building I live in is like Fort Knox, or what I imagine Fort Knox to be like, anyway….. you have to get through 3 layers of security to even get in the elevators, and then once you get on the elevator you have to have a special code to get onto each floor.  So anyway, when I got a knock on my door I automatically assumed it was a Ninja coming to assassinate me.  Who else could it be?  Although now that I think about it, I bet Ninjas don’t even bother to knock.

As it turns out, it was Jim from the Census Bureau who asked if he could come on in and conduct a 5-8 minute interview with me.  I politely declined because I don’t usually let strange men into my home even if they come under the guise of Census Bureaudom. He told me they would call me back today and conduct the interview over the phone, but instead they have been calling me every 5-10 minutes since he left my doorstep.  Seriously.

I guess that will learn me to throw my census papers in my “I’ll get to it later when I have some spare time” pile.

Which looks like this in case you were wondering….

000 02132 400x266 Well, Hello!

Side view:

000 02151 388x300 Well, Hello!

Did you ever imagine me to be so organized?

So other than getting harassed by the Census Mafia, and running my ass off, I’ve also been hitting the MLS and making lots of offers.  I took a break for a long while there, and was just working deals with my wholesaling buddies, but now I’m back in MLS-offer-making-mode.

I’ve got one short sale that I think I’m going to get accepted this week.  That’s what the listing agent told me anyway.  It’s listed in the 60s, but the agent said if I made an offer of 40k she could make it happen.  You’d be surprised at the info you can get from some of the agents if you just ask.

I’m also working on another JV deal with Murphy that I think one of my hood buyers is going to take.  It’s a cheap piece of crap, which is this guy’s specialty, so I’m waiting to hear back from him on that.  I’m actually headed back out to that property as soon as I’m finished writing this post to see if I can rescue the kitty that the previous scumbag owners left outside when they moved out.

Anybody in the market for a kitty?  She’s orange with white stripes and fleas.  Any takers?

So, that’s about all I’ve got for now folks!

Later alligators!

P.S.

I forgot to mention that I’m doing a free Q&A training call with Drew Downs this Saturday, May 8th at Noon EST!

If you missed the webinar we did last week, or if you have questions about wholesaling short sales or REOs, or how to find cash buyers in your market, or how to locate the hot zip codes in your city, or if you got Drew’s course and need clarification on any topics, this will be your chance to pick his brain and get your questions answered!  I already have my list of questions ready to go….

To register for the event this Saturday, click here!

See ya there!

P.P.S.

Don’t  forget to stop by here Monday @ 8pm, to discuss this month’s Book Club selection: Influence, by Robert Cialdini.  My good friend Shae Bynes (who is much better at writing book reviews than I am), will be guest posting, so make sure to stop by and throw in your 2 cents.  Or however many cents you’d like to throw in.

P.P.P.S.

Speaking of Shae Bynes, if you guys haven’t been over to her blog lately, she just announced that she’s taking the leap and LEAVING THE RAT RACE once and for all!

Congratulations, Shae! icon smile Well, Hello! icon smile Well, Hello!

32 Responses to Well, Hello!

  1. On May 06, 2010 at 10:00am, Carey_PA said...

    Great job with the running girl! You are kicking major butt! Also with the getting back into the swing of making offers.

    Awwww about the orange kitty. I think we’ve had the talk before about being animal lovers and how I think that says so much about a person. Good for you, for trying to rescue the orange kitty. Ummm I’m gonna have to pass though since I already have 4 cats! And as you know, my one cat Blade, I found after his scumbag owners threw him onto the streets after they moved. He, of course, found me and he’s been mine ever since (or I’ve been his! lol)

    Btw, I filled out my census form and sent it in and they keep sending me other ones…guess they didn’t like my answers? lol
    .-= Carey_PA´s last blog ..Received counter offer on 34 unit! =-.

    • On May 06, 2010 at 11:26am, Stephani said...

      Yeah, I’m in the same boat Carey- no room for any more strays, unfortunately. I’ve got a full house over here as it is. :)

  2. On May 06, 2010 at 10:46am, Shae said...

    Thanks for the shout out Steph! I’m looking forward to the Q&A with Drew this weekend…I’m going to get my questions ready! Keep up the great work!
    .-= Shae´s last blog ..27 Days =-.

    • On May 06, 2010 at 11:27am, Stephani said...

      Thanks Shae!

      Did you get your iPad yet????

      • On May 06, 2010 at 11:28am, Shae said...

        Funny you should ask…I JUST posted this on your facebook wall “According to UPS, my iPad is currently in CHEK LAP KOK, Hong Kong. LOL! Let’s see how many days it takes to make it to sunny South Florida!”
        .-= Shae´s last blog ..27 Days =-.

        • On May 06, 2010 at 11:30am, Stephani said...

          This is too funny… great minds think alike. Hehehe.

  3. On May 06, 2010 at 12:02pm, Karen said...

    Hi Steph!

    Looking forward to the call on Saturday. I’ll have plenty of questions as always!!

    Good luck on finding a home for kitty! I currently have an orange and white and I highly recommend them!!!

    • On May 06, 2010 at 12:07pm, Stephani said...

      Glad you can make the call Karen- and I know you won’t hold back on the questions! :)

      Perhaps your orange and white cat would like an orange and white friend?? Hint, hint.

  4. On May 06, 2010 at 12:59pm, Eileen-WI said...

    Congrats on getting in shape Steph!! I am in th process of moving myself too.

    If I had a cat at my house I think, no I know, my St Bernard Norman would “play” with him (which usually results in death). He’s a great big Teddy bear but just doesn’t know when to stop.

    Hey are any of those calls with Drew going to be available for download? I will be out of town.

    Congratd Shae!

    • On May 06, 2010 at 2:10pm, Stephani said...

      Hey Eileen,

      I think Drew is going to try and record them, but he tried with the last call and it ended up not working. If there is a replay available I will definitely send it out in an email so everyone can listen in who wasn’t able to make the call.

      Hope you are doing well,
      Steph :)

  5. On May 06, 2010 at 1:59pm, Toby-NH said...

    Hello Steph,

    This is my first time visiting your site / blog. Looks great! I can see that your a successful wholesaler which is awesome! I ‘m just getting into wholesaling and I plan on working with FSBO’s that are not listed with a realtor or agent. I’m not going to use a Realtors P & S agreement contract because I don’t have my license and I’m trying to find deals w/o an agent. Do you have a contract I could use or do you know where I could find one that can be assigned? I plan on using “and or assigns” after my name on the contact. I went to a lawyer and she wants to charge me $250 for each contract to be drawn up. Any help would be amazing.

    Thanks,

    Toby

    • On May 06, 2010 at 2:12pm, Stephani said...

      Hi Toby,

      I don’t have a generic contract on hand, as I always use the FAR As-Is contract, but I think JP Moses has one available on his blog that you should be able to use. Here’s a link: http://freereiforms.com/

      Hope that helps!

  6. On May 06, 2010 at 2:28pm, Greg Harris said...

    I hate census people they harassed my 99 year old grandma the other day! I am allergic to cats… So I would have left it and never went to save it lol.

  7. On May 06, 2010 at 6:23pm, Chris said...

    Steph,

    The Census Mafia lol. I think every government agency should be referred to as the “(insert govt agency) Mafia” :-)

    I’ll probably have the “Federal Bureau of Anti Government Bashing Mafia” on my tail now.

    We’re selling the LLC deal in the next day or two so that’s sweet. I’ve also come across some unlisted MLS deals. What is your approach in dealing with unlisted props? All we have is the addresses so far and looked at them today. Do you wait till you hear list prices before you do anything or what? Thanks in advance.

    • On May 07, 2010 at 8:22am, Stephani said...

      Hi Chris,

      Congrats on getting that LLC sold- sounds like you’re on a roll over there, huh? Good stuff!

      What do you mean by unlisted MLS deals? You mean REOs before they hit the market? Usually you have to wait until the BPO is done and the bank sets their price. Sometimes it comes in way too high so it’s just a waste of time. It’a always good to have the first crack at them, though.

  8. On May 06, 2010 at 9:59pm, jason said...

    Hey Steph

    Sorry for the hostile message. But the investors are driving me to hell! I cant stand this cookie cutter offer formula “arv x 70% – rehab cost” its making me make offers I know I cant get accepted let alone countered! But All my investors are saying the same thing, and thier seasoned! I really need your help on how to deal with this please!

    • On May 07, 2010 at 8:27am, Stephani said...

      Hi Jason,

      You have to bring the buyers deals that will work for them, so if you’re going after properties on the MLS, you’ll need to focus on the ones that are priced within a reasonable range of where you need to get them to make $$$ and still provide a great deal to your buyers.

      Keep in mind that you can get better deals if you focus on the properties that need a lot of work, and also the ones that have been sitting on the market awhile. If you’re making offers on houses in sought after areas that need little to no work, you’re going to have a much harder time getting a big discount….

      Hope that helps,
      Steph

  9. On May 07, 2010 at 7:08am, mobilehomegurl said...

    Nice pics on being organized, Steph! :) Wow, those census workers mean business – scary. And, yes congrats to Shae! To me, her blog is like the “Chicken Soup” of real estate – it’s got a lot of heart and soul :)

    • On May 07, 2010 at 8:29am, Stephani said...

      That pile of papers has been mocking me for about 2 months now. It just keeps getting bigger, and the bigger it gets, the more I avoid it. I just need to set aside an hour or so and go through and organize everything.

      I’ll do it tomorrow. Hehe. :)

  10. On May 07, 2010 at 10:52am, Foster said...

    Greeting Steph

    Having a full time office outside of your home seems an unnecessary expense BUT how do you avoid unwanted persons coming to your house? Sometimes it’s very awkward to keep meeting at Starbucks/Wendy’s. What do you do?

    In business one must be friendly but how do you avoid the appearance of to friendly or maybe a threat to a client wife?

    • On May 07, 2010 at 11:15am, Stephani said...

      Hi Foster,

      If I ever need to meet someone, we just go to Starbucks. The majority of my deals are taken care of via phone and email, though, so I rarely have the need for meeting them in person.

      Take care,
      Steph

  11. On May 07, 2010 at 11:29am, Scott Costello said...

    You are a running machine! I’m trying to get back up to 3 miles again after my foot surgery. Pretty close (depending on which treadmill i use).

    How was the book Influence? Great, Ok or Bad? I didn’t get the book yet cause I’m trying to finish up “Start With Why” which I’m liking so far.

    Oh hey, I think you would be a great owner of FlippingHomes.com :) ALthough I feel that it’s going to die after Steve leaves cause what made it great was his influence on the members. You’d have a very similar influence I think. What do you say?
    .-= Scott Costello´s last blog ..Have you read these 6 blog posts? =-.

    • On May 09, 2010 at 5:34pm, Stephani said...

      Hey Scott, Shae just wrote an excellent review on the book, so you’ll have to sit tight until tomorrow evening when I post it. :)

      I’m pretty bummed about Steve selling the site- I’ve been going there since the very beginning, not even sure how many years it’s been….. It definitely won’t be the same without him there. :(

      Hope you are doing well.

  12. On May 07, 2010 at 9:03pm, Neil Uttamsingh said...

    Ninjas don’t knock…
    they sneak up behind you. :)
    .-= Neil Uttamsingh´s last blog ..Fool me once Financial Markets, shame on you. Fool me twice, shame on me. =-.

    • On May 09, 2010 at 5:36pm, Stephani said...

      That’s what I kind of figured, Neil. Ninjas are way too sneaky to knock. ;)

  13. On May 07, 2010 at 9:19pm, Chris said...

    Steph,

    Yeah I guess we’re on a little bit of a roll. I’d like to consider it normal though lol.

    And yes, I meant REO’s before they hit the market. Do you just wait until the first day they’re listed and make an offer then or what?

    Also, is Fannie Mae Homepath doing their “Not reviewing any investor offers until (two weeks from listing date)” crap down there? It seems some of the best listings they are going the way of HUD and giving owner occupants first crack at it. Any thoughts or ways to combat this besides obviously living in one?

    Thanks for the help and once again, great blog!

    • On May 09, 2010 at 5:41pm, Stephani said...

      Hi Chris,

      I usually don’t go after the newly listed properties because there are 1.5 million other people offering on them as well. Unless you have an in with the listing agent, they won’t usually let you put an offer in until it’s active on the MLS. It never hurts to try, though.

      Yeah, they have been doing the 14 day thing for investors for a long time down here. It’s so annoying. Next thing you know they’ll start banning investors from buying REOs all together. Wouldn’t surprise me any if they did….

  14. On May 07, 2010 at 9:20pm, Chris said...

    “It seems (with) some of the best listings…”

  15. On May 08, 2010 at 8:18pm, jason said...

    Hey Steph,

    I know Drew Downs does this pretty easily, but when you put an offer on your short sale, did the listing agent change the listing from active to pending? and if so did you have the power of having it under contract even though your offer hasn’t been accepted?

    thanks

    • On May 09, 2010 at 5:44pm, Stephani said...

      Hi Jason,

      I’ve had about 50% of them willing to change it to pending.

      Once I get more confident with what I am doing, I imagine that % will go up quite a bit.

      It’s definitely key to get them to do it, though, as that way no one else will be able to put in an offer on it.

  16. On May 09, 2010 at 8:47am, Bilgefisher said...

    Steph,
    Thanks for the presentation with Drew. I have a full page of notes and to do’s from that. Time to go make some momentum.

    Jason
    .-= Bilgefisher´s last blog ..Busy 3 weeks =-.

    • On May 09, 2010 at 5:45pm, Stephani said...

      Hi Jason,

      Glad you enjoyed the call!

      I learned quite a bit from it, too. :)