Flip This Wholesaler

OK, guys, the results are in from the first day of voting for the Battle of the Blogs contest that I talked about in my last post.

And I am getting my ASS kicked!

Right now, Julie Broad from RevNYou is CLEANING HOUSE with a whopping 76 votes!!  She said she has the entire country of Canada behind her, and apparently, she wasn’t kidding…

In second place is Susan Lassiter-Lyons with 40 votes..

Third place is none other than Mr. JP Moses, with 34 votes

And in 4th place is yours truly, with 30 votes!!

Rumor has it that Trevor Mauch is getting ready to send out an email to his HUMONGOUS email list, so he’s probably going to knock me right out of 4th place.  Actually, this just in…..the Probate Guy just sent out an email to his list and is up to 33 votes already.  CRAP!

I don’t know if I can compete with these guys and their email lists, but I’m going to fight it out ’til the bitter end!

If you guys haven’t voted yet, you can head on over to the contest and do it now..  You don’t have to opt in or anything- just post who your favorite blogger is in the comments section…

LET’S KICK THESE EMAIL MARKETER”S ASSES, GUYS!  Think of it as revenge for the SIM’S LAUNCH! Hehe.

I’m counting on you guys to represent!

And so is Jim….

Later Alligators- GO VOTE!

P.S.
Thanks to all of you who have voted for me already- I’m reading your comments over on the contest page, and I appreciate each and every vote I’ve gotten so far.

P.P.S.
Every time one of the competitors sends out an email or posts something to their blog, P-Rid shuts his site down and pretends like the server crashed…. So, if the site is down when you go to vote, make sure to check back later.

P.P.P.S
A little something to get you in the fightin’ mood….

[youtube]http://www.youtube.com/watch?v=AuULcVaMTf0[/youtube]

VOTE FOR STEPH!

4/7/2009

I don’t want to jinx myself or anything, but holy shit are things looking up.

I’m not gonna lie- I’ve been getting a little discouraged lately with the amount of offers I’ve made (over 100), and the amount of deals I’ve contracted (0).

Towards the end of last year, I was getting roughly 1 in 20 offers accepted, so you can imagine my frustration in making more than 100 offers to no avail. I haven’t even been getting any counters lately, because there are almost always multiple offers on each property (even the shit holes), and it almost always goes to highest and best, and I always lose when it goes to highest and best.

Luckily for me, I’ve experienced several dry spells in my short wholesaling career, and I have come to learn that just beyond every dry spell lies a big fat river of opportunity…. I now know that if I can push myself through the frustration, and the lack of anything good happening, and if I keep working my ass off, eventually I will be rewarded for my efforts. That may sound like a cheesy cliche, but I’m telling you, it’s true. It happens every single time, and this time is no exception.

Like I said, I don’t want to jinx myself, but it looks like I’m about to get two deals locked up tomorrow- one of them is a JV deal with another wholesaler friend of mine (Murphy), and the other is a deal that I am getting before it hits the mls, and let me tell you it is a SWEET freaking deal – a 3/1, 1500 sf bungalow that needs very little work, in a good part of town, and I am getting it for 32k! If I can get this one sold tomorrow (which I’m pretty sure I can), there will be lots and lots more where this one came from.

I kind of just hit the REO mother load. For real.

So, yeah, it was a good day today.

3/30/09

Man, it’s tough going out there right now.

Every single offer I put in either goes to highest and best, or, there is already an accepted offer on the property.

I’m now giving both sides of the commission to the listing agent, so we’ll see what sort of effect that has, if any.

Right now I’ve got 5 of my buyers calling me every other day asking if I have any deals. It’s pretty frustrating having buyers lined up and not having any deals to sell to them.

I talked to Steve last week about this shift in my market, and he told me to just keep making offers. So that’s what I’m doing. Making lots and lots o’ offers.

On a lighter note, one of the deals I was working with Lee closed on Friday. So, that’s good news. Except now I have nothing under contract, and it’s been awhile since I’ve not had any deals in the pipeline. Me no likey not having deals in the hopper.

OK, gotta run- my pizza is burning…

3/12/2009

The bank sent over the closing docs yesterday afternoon for the deal that was supposed to close Tuesday, but we are still missing their title commitment (which my title company needs).

Also, the buyers want to have their attorney review all of the paperwork, but he thought the deal wasn’t closing until Friday, so we are waiting on him to approve everything.

I went in and signed all of my docs yesterday, and hopefully the buyers are going to go in this morning to sign their docs so we can get the wire sent out today.

I should be getting a frantic phone call or email any minute now from the bank’s title company asking where the wire is. I will just go ahead and ignore them, much like they have been ignoring me all week.

That is my very favorite thing to do, especially when I am out of contract with the bank and it is their title company’s fault. And especially when they have been blowing off my calls and emails all week. Hehe.

Meanwhile, the listing agent has NO CLUE what is going on, which makes it even more fun. Good times.

No bites yet on my offers. A lot of multiple offer situations, though. Everybody and their Grandma is going after REOs, so there’s quite a bit of competition.

Also, I’m not sure if I mentioned this, but there’s been a noticeable decrease in the amount of REOs on the market lately. Not sure if it’s because of the moratorium or what, but there’s definitely a lot less to choose from.

I check the amount of lis pendens filed in my county every month, and that has pretty much stayed the same (roughly 2000/month). I’ve heard from a few different sources (REO agents) that there is a huge wave of REOs headed our way. I guess I’ll have to wait and see.

That’s all I’ve got for today. Busy day ahead of me..

Adios!

1/27/2009

Well, I finally sold the house I got for 16k! I was starting to panic a little bit, as I am used to already having my deals sold by the time everything is signed with the bank. I ended up getting 20k for it from my sans ID buyer (I’ll refer to him as SIB from this point forward). I could have just sold this to him 2 weeks ago, but I wanted to flush out some new buyers (which I did), so I decided to market the hell out of it for awhile before I resorted to the ace in the hole.

It looks like 2 of the 4 deals I’m working are going to close this week. One tomorrow, and the other Thursday or Friday. There is a third that is supposed to close Friday, but it doesn’t look like the bank’s title company is going to have everything ready. Then the one I just sold to SIB is scheduled for Feb 10th.

Now it’s time to get some more under contract…. I went and looked at 10 houses yesterday, and by the time I got back home to write up offers, 4 of them were already pending. I don’t know if it’s just me, but it seems like I have a heck of a lot more competition all of a sudden. I went to make an offer on a property last week that had just been listed, and the listing agent told me he already had FIFTEEN offers on it. Crazy. There’s still plenty enough to go around, and to be honest, I kind of like it. Nothing beats a little healthy competition, although, I could do without the assholes who steal keys out of lockboxes so no one else can go inside. Man, that pisses me off. Dirty-pool-playin mother fu*k*#s.

Well, that’s all I’ve got for now. My Dad is flying in today at 3pm for a week long visit… I think were going to head out to Clearwater beach for some cold beer and She-Crab soup at Frenchy’s. Yummmm.

Go make some offers, y’all!

P.S.
I’m listening to Nate’s coaching call with Steve right now. Good stuff.

P.P.S
Does anybody know if it’s possible to watch the Australian Open matches online (free or not, doesn’t matter)? I don’t have cable and I don’t want to miss the rest of the matches.