![\"Crush](\"http://www.flipthiswholesaler.net/wp-content/uploads/2012/02/FTREO-Banner1.png\")
Happy Monday Blogosphere!
So, I ended up meeting Ray yesterday to get a deposit and sign the contracts for the deal I wrote about in my last post. We met at Starbucks at 4pm and ended up sitting there shooting the breeze for almost 2 hours. (Note to self: drinking a venti Dark Cherry Mocha Frappuccino @ 4pm is not a good idea- I was up until 2am staring at my ceiling).
Ray’s a super cool dude. He’s been buying properties in Tampa for the last 15 years, and owns 17 rentals free and clear right now. Nice. He said he’s been patiently waiting for the right time to jump back in and start picking up more rentals, and he recently decided that now is the time.
The closing on this one is scheduled for the 30th of this month, but it’s an REO, so you never know if that will actually happen. I’m spilitting this one 50/50 with one of my wholesaling buddies, so we’ll each make 3k on it when all is said and done. Not a windfall, but better than a sharp stick in the eye, eh?
So that’s the scoop on that….
In other news- I mentioned in a previous post that I’m hosting a live training call this Wednesday, July 14th @ 8pm, and I’ve finally got all the details for you about that!
My guest for this event is a fellow student of Steve Cook, and he’s been doing some serious butt-kicking up in St. Louis. He’s wholesaling properties, but with a twist! Instead of going after the same type of deals that everyone else and their Grandma is, he’s found a way to profit from the deals that most wholesalers and investors are leaving behind.
Aside from the fact that the market he is targeting is virtually untapped (no competition from other wholesalers/investors), his lead source for these deals costs zilch, and his risk in each deal is limited to only a few bucks (no large earnest money deposits required!).
To reserve your seat on the call (and also to watch the quick video that we recorded), just click on the box below and you’ll be taken to the signup page…
***Once you sign up, make sure to check your email for the confirmation link- you’ll have to click on that in order to secure your spot for the event!
See ya there on Wednesday!
P.S.
Flip This Book Club will be meeting here this Thursday @ 8pm (sorry- it’s a few days late!). Shae Bynes will be reviewing this month’s book- No BS Time Management for Entrepeneurs by Dan Kennedy. 
On July 12, 2010 at 6:12am, Shae said...
Glad things worked out with Ray! He owns 17 rentals free and clear….that kicks butt! I personally am really looking forward to the webinar this Wednesday with Joe. I’m familiar with lease options, but not with wholesaling them and this can get a great tool to have in the toolbox with sellers we talk to who don’t have equity in their houses.
.-= Shae´s last blog ..Truly honored- =-.
On July 12, 2010 at 7:53am, Stephani said...
This is gonna be right up your alley, Shae- especially if you’ve already got leads coming in from your direct marketing. Lots of money on the table with the lower equity leads.
Welcome back to FL, btw.
On July 12, 2010 at 9:15am, Shae said...
Thanks! It’s really good to be back home
I’m about to make some calls to get the story on some of these short sales that have been sitting on the market forever around here.
.-= Shae´s last blog ..Truly honored- =-.
On July 12, 2010 at 1:28pm, Stephani said...
Gotta love cold calling Realtors. I usually get about 1 out of 10 who actually answer their phone, and the rest just go to voice mail….
On July 12, 2010 at 8:30am, Megs said...
Congrats on the deal Steph!
Do you always split them down the middle like that? I’d like to set something up like that with some of the movers and shakers in my city!
On July 12, 2010 at 1:30pm, Stephani said...
Hi Megs,
It just depends on the deal and the wholesaler I’m working with. Sometimes I’ll just add a few grand on top of what they’re asking, and sometimes my fee is already built into their asking price. And then sometimes we split 50/50.
I like the 50/50 option best.
On July 12, 2010 at 3:05pm, Megs said...
Got it.
One more question- if you’re marking it up from their asking price, do you ever run into situations where the buyer sees it advertised somewhere for less?
On July 12, 2010 at 3:53pm, Stephani said...
Hi Megs,
Yes, that has actually happened before, and is why I rarely will market someone else’s deal if I have to add to it. It kind of makes you look stupid if you’re marketing it at one price, and someone else is marketing it at a lower price.
I’ll still do it that way sometimes, but I prefer not to.
On July 12, 2010 at 9:33am, Gina Demars said...
Hi Steph,
Will there be a replay on the webinar? I have to work my j-o-b that night but would like to listen in.
Thanks!
Oh, by the way, I LOVE the dark cherry mocha frapuccino!!!
On July 12, 2010 at 1:31pm, Stephani said...
Hi Gina,
I’m not sure if there will be a replay or not. Last time we had technical difficulties and the recording got swallowed up in cyberspace, so you never know what’s going to happen!
If there is a replay I’ll be sure to send it out.
On July 12, 2010 at 9:57am, AnotherSteph said...
OMG, Steph – the same thing happens to me. If I have caffeine after like 3pm, it keeps me up at night. My husband thinks it’s all in my head, but it’s not!!
Looking forward to the call on Wed.
Steph
.-= AnotherSteph´s last blog ..Weekly Update =-.
On July 12, 2010 at 1:34pm, Stephani said...
Yeah- I’m the same way. I have no idea what I was thinking drinking that ginormous thing so late in the afternoon. I went to bed @ around 10:30 and laid there until around 2am cursing myself!
Guess I should have gotten a decaf.
On July 12, 2010 at 12:34pm, Joe McCall said...
Steph! Looking forward to the call!!! Should be a blast! I don’t know how we’re going to squeeze all this content into 60 minutes… I have to talk really fast!
On July 12, 2010 at 1:34pm, Stephani said...
Hey Joe!
I have a feeling that it’s going to go longer than 60 minutes…
On July 12, 2010 at 3:39pm, TarHeel Ed said...
I hope there is a replay…Im overseas and cant tune in live…
On July 12, 2010 at 3:55pm, Stephani said...
Hey Ed!
What part of the World are you in this time?
I’ll definitely post the replay link if we get it recorded- just not sure if he can do it or not.
I hope you’re doing well- it’s always nice to hear from you.
On July 13, 2010 at 5:26pm, TarHeel Ed said...
Im back in Guam/Saipan…Ill be here until Oct…Im excited to come home from this trip as a Dave Ramsey graduate of his Financial Peace course, being 100% totally debt free…
Its great to have wifi access out here on the ship so I am able to keep up with you and your inspirational blog…
On July 13, 2010 at 8:22pm, Stephani said...
Wow, Ed- that’s awesome- congratulations!!
On July 15, 2010 at 12:26pm, Stephani said...
Hey Ed- here’s the link to the replay:
http://attendthisevent.com/?eventid=13876473
On July 12, 2010 at 8:47pm, Julie Broad said...
Just wanted to say congrats on the deal!! We’re finding some amazing people these days too … love it when you just hit it off and shoot the breeze over a ton of chocolate and caffeine… we have to not schedule ourselves too tight because one of the best part of the business is hitting it off with a JV partner or tenant or someone else you’re meeting up with. It sucks when you’re wanting to chat longer but have to rush off to the next meeting!!
By the way … how do you get the subscribe without commenting box at the bottom??
.-= Julie Broad´s last blog ..Living Life on My Terms =-.
On July 13, 2010 at 7:15am, Stephani said...
Hey Julie,
Yeah- like I said in the post, this guy was super cool. He’s been in the rei game for a long time and had some pretty interesting stories to tell…
I’m not sure which plug in that is (the girl who designed my blog put it there), but I’ll check and let you know.
On July 12, 2010 at 8:47pm, Julie Broad said...
Darn … so excited about the subscribe without commenting box that I forgot to be notified of follow up comments … so this comment serves no other purpose than to get me notified of follow up comments.
.-= Julie Broad´s last blog ..Living Life on My Terms =-.
On July 13, 2010 at 7:22am, Stephani said...
Found it!
It’s Gurken Subscribe to Comments….
http://www.infogurke.de/gurken-subscribe-to-comments/
On July 13, 2010 at 7:27am, Stephani said...
Ooops.
Try here instead (the first site was written in German- sorry!)
http://wordpress.org/extend/plugins/gurken-subscribe-to-comments/
On July 12, 2010 at 9:11pm, Esi said...
Congrats Steph! That’s super cool, sounds like you got a good buyer for your deals. I’m looking forward to the call with Joe because I do get to talk to people that are very motivated, but they owe close to retail value and it will be great to do a lease option with those houses so I could at least make a few bucks with them instead of throwing them away.
.-= Esi´s last blog ..Work now- Play later =-.
On July 13, 2010 at 7:17am, Stephani said...
Hey Esi,
I’m really excited about the call with Joe! It really is a great strategy for both folks who are just getting started and those who are already doing some marketing and don’t know what to do with those leads where there is little to no equity…
Thanks for stopping by,
Steph
On July 13, 2010 at 8:02am, Dan Ochara said...
Hi Steph
If I’m doing a jv deal with another wholesaler and selling to one of my buyers, how do I prevent the other wholesaler from just going straight to them next time?
Congrats on the deal!
On July 13, 2010 at 1:26pm, Stephani said...
Hi Dan,
There’s really no way you can prevent it from happening- it’s just a risk you take when doing deals with other people. Most of the guys I work with I’ve been doing biz with for several years and we just don’t steal each others buyers.
If it does happen, though, it’s not the end of the world- there are plenty more deals and plenty more buyers out there!
On July 13, 2010 at 10:31am, Matt said...
Guess you can wholesale anything these days…love the idea and look FW to the call.
Straight hustling now as an offer just got accepted…gotta crank it in the next couple of days.
On July 13, 2010 at 1:27pm, Stephani said...
Awesome job, Matt- now get out there and SELL SELL SELL!!
Good luck, and let me know how it works out.
On July 14, 2010 at 10:37am, Russ L said...
Joe is an awsome guy and really knows his stuff. oh and so does Steph
This should be a not miss Awsome call.
On July 14, 2010 at 3:06pm, Stephani said...
Thanks for your support, Russ- we appreciate it!
See you on the Flip VIP call tomorrow!
On July 14, 2010 at 10:37am, Russ L said...
Also no bs time management is a must read also.
On July 15, 2010 at 8:02am, Karen said...
Hi Steph,
I got the strangest call last night on my bandit sign cell phone and I wanted to see if you, or anyone else, know what the deal is. I have a separate cell # that I put on the bandit signs, for just this reason, so that if I start getting weirdos calling, I can just change the number.
Anyway, this guy called and asked about the house at first, but then said that he has been wanting a phone number that starts with the same 3 digits that mine starts with. He wanted to know what telephone company I use; I told him, then he wanted to know if it’s a land line or wireless, and I told him it’s a cell phone. Then he wanted to know how long I’ve had the number. I asked him why, and he just repeated that he really wants a phone number that starts with those 3 digits. So I just vaguely said that I got the phone number fairly recently. He tried to pin me down to a more specific timeframe but I just repeated that it was fairly recently. He then went back to asking about the house and then said he was going to check it out but hung up before I could give him the address. Very strange, but I can’t figure out what he was trying to do. Anyone had this experience??
On July 15, 2010 at 10:19am, Stephani said...
That’s really odd, Karen.
Maybe it was a code enforcement person? Although I’ve never had one call me, and I’ve been putting signs out for a long, long time.
I would have just told the guy it was none of his business and then hung up on him.
I’m sure you know better, but if he calls back and asks you to meet him at the house- don’t do it. I had a guy recently who was adamant about meeting me at one of the properties I was selling, and I just told him no thanks. Lots of crazies out there, and I’d prefer not to end up in someone’s trunk, ya know?
On July 15, 2010 at 10:47am, Karen said...
The plot thickens – I just called the number that came up on caller id when this person called. It looked like a fake number so I didn’t try it before. The person that answered said, “Junk Removal, How can I help?”.
On July 15, 2010 at 3:36pm, Stephani said...
Junk removal, eh?
You got me on that one- I have no clue.
Maybe he wants to personalize his #, to make it spell J-U-N-K. Does your cell # spell out “junk”?
On July 16, 2010 at 10:52am, ARodOfIron said...
Sounds like code enforcement to me! Yikes! :S
On July 17, 2010 at 6:04am, Charles said...
Where can we get more information on what Joe does if we missed the webinar?
On July 17, 2010 at 6:10am, Stephani said...
Hi Charles,
Here’s the link to the replay:
http://attendthisevent.com/?eventid=13876473
It comes down at midnight on Sunday, so if you’d like to listen in, you have until then to do so.
Have a great weekend!
Steph