Flip This Wholesaler

4/23/09

You guys are probably going to think I’m making this up, but I now have 7 deals locked up, and am waiting on a contract and deposit on an 8th! No kidding.

I sold one of them to a guy who responded to my Craigslist ad that I posted over the weekend. I haven’t used Craigslist in a long, long, time, but decided it wouldn’t hurt to start throwing some ads up every once in awhile- it only takes a few minutes to do, and it’s FREE. I love me some free advertising. So anyway, I got 2 calls on the ad I posted, and ended up meeting one of the guys yesterday for coffee. He didn’t buy the property I was advertising, but ended up putting a contract on another one that I have an option on. My option price is 30k, and this guy is going to buy it for 35k. This makes me happy. Craigslist rocks.

Today I’m meeting 2 of my wholesaler buddies for a power lunch. The 3 of us together are a dangerous combination. In a good way.

I’m also going to be putting out a bunch of signs today- I just bought 100 last week. My goal is to put out 25/week. That will keep my phone ringing for sure.

And that’s all I’ve got for now.

Have a wonderful Wednesday!

P.S.
Thanks to all who are participating in Accountability Monday- I look forward to hearing about all of your successes this week. I’m kind of slacking on my goals at the moment, but will be sure to have everything done by Friday.

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.

1/20/2009

Well, I was an offer makin’ fool today……

I got on a roll and just couldn’t stop myself.

That happens sometimes.

I submitted 9 offers total, my favorite being the one I made for 8k. I doubt I’ll get it accepted at 8k, but you never know.

I kind of had another epiphany after I got that last offer accepted for half of list price. The epiphany being that I need to be offering much lower, because the banks are really starting to take some huge discounts, and I want to take full advantage of their “generosity”. Hehe.

I’m going on another sign mission tomorrow morning (when I put signs out in the hood, I always try to get there as early as possible, as there is much less of a chance of getting heckled and/or barked at) to market the deal I was talking about in my last post.

I already have two solid cash offers on this deal, but I’m pretty sure I can get more, and I’ve still got 3 weeks til closing, so I’m holding out for a higher offer. This is a first for me, as I usually take the first thing that comes my way even if I know I can get more….. This is a bad habit that needs to be broken, so I am going to break it.

And that’s all I’ve got for today. 10-4, over and out..

P.S.
If anyone happens to run into Mother Nature, can you please tell her to TURN THE DAMN HEAT UP? I’m about 2 degrees away from packing it up and moving farther South. Seriously.

1/18/2009

I spent most of yesterday putting signs out in the hood advertising the deal I just got under contract for 16k. Here’s a few pictures of the house, in case you were wondering what kind of digs 16 grand will get you in this market….

Not a bad little house. Well, except for the fact that it’s in the hood, but for 16k, what do you expect?

I put out about 25 signs, and have received probably 10-15 calls yesterday and today. No takers yet, but I did manage to add a few new buyers to my arsenal….. Love those signs!!

I spent the rest of my time this weekend monkeying around with my soon to be new website, and realizing that I don’t have enough time or patience (or skill) to design it the way I want it to look, so I searched around the net looking for a web designer to do it for me. I finally found what I was looking for, but turns out they have a 3 month waiting list for new projects.. Dang. I’m willing to wait, though, as I was really impressed with their portfolio.. So, anywho, I should be rolling out my new site sometime this Spring. I’m very excited..

And, in other news- my wholesaler friend, Dave, sold one of his deals to a pimp on Friday. For real. He came into Dave’s office early in the day with a contract and a grand in cash to put down as a deposit. Dave had never worked with him before, so he asked him for a copy of his bank statement, since he claimed to be a cash buyer. Mr Pimp said he didn’t have the cash in the bank, and that he would be back later with proof of funds. And then he came back a few hours later with a DUFFEL BAG FULL OF CASH. I swear I’m not making this up. And then he explained that he was a pimp, and that’s why he had all of this cash laying around.  WTF?

P.S.
Click here if you have questions about what I write on my signs…

8/31/2008

Well, the buyer who was interested in the property I just got under contract actually showed up on Friday afternoon (after I had written her off because she was MIA all day) to sign the contract and give me a 2k deposit (in cash, hehe). Also, she is going to be using that hard money lender I was telling you about that I found a week or so ago. They don’t do credit checks or verify income, but you have to put 20% down (I originally thought it was 20% down plus 10 points, but it’s really 10% down plus 10 points, or 20%).

I figured I was going to be spending my weekend putting signs out and trying to sell this deal, so I was quite pleased to get it taken care of Friday evening. Makes it much easier to enjoy the holiday when I don’t have to be worried about finding a buyer.

This is one of the bigger discounts that I’ve gotten on an REO- they dropped the price from $75k down to $51k. It has only been on the market a few months (2, I think), and it’s not in horrible condition, so I was pretty surprised that they came down so far. You just never can tell what these banks are gonna do…

As it stands, I’ve got 3 deals scheduled to close in September, and I’m going to shoot for at least 1 more. I’ve still got a bunch of offers out there that I made towards the end of the week, so I may just get another one out of those…

A friend of mine is having a Labor Day/Birthday party today, so that’s what I will be doing for the rest of the afternoon.

Hope you all have a great weekend!