Flip This Wholesaler

6/19/09

I recently stumbled upon an article that I wrote last year for Trevor over at The REIBrain, and I thought I would share it with you guys.

It’s basically a synopsis of my first year as a wholesaler (which was an absolute NIGHTMARE).

I know there are a lot of you out there who are dealing with frustrations in trying to get your REI business off the ground, and I just wanted to encourage everyone to keep at it. I dealt with the same frustrations and struggles, and it took a LONG time for things to finally click.

Make a commitment to yourself to keep pushing forward until you reach your desired goal. I know it isn’t easy to keep going sometimes, but I promise you that your efforts will be rewarded if you persist.

Enjoy the article, and have a great weekend, Blogosphere!

6/17/09

Well, I wasn’t able to save the deal, and it is now officially dead. I’m pretty sure that DB was just waiting for my time to run out, and I bet he’ll have an offer in on it today. With a little luck, maybe he’ll buy the property and the rest of the roof will cave in on his head. Just kidding. Kind of.

I got a counter back yesterday afternoon from one of the houses I offered on yesterday morning. This is shocking, as it usually takes them five years (give or take a year), to get a response from the bank. The bank countered @ 13k and I am trying to get it @ 10k. The house is in the hood, but it’s not in horrible shape, and I have a few guys who like this area, so I’m going to send both of them by today to see if they’ll bite. One of these guys bought a house from me on the same street last year for 27k. It needed a lot less work, though, and had 1 extra bedroom. We’ll see.

I’ve been trying to make at least 3 offers/day every day, but there really isn’t that much to choose from right now, so I’m continuing to work deals with a few of my wholesaler friends. I usually get at least one call/day from other wholesalers asking if I want to JV on deals with them. This is a good thing for me, especially when there isn’t much available on the mls…

Anyhoodle, that’s about all I’ve got for now. I’ve been a busy little bee working on stuff for the new blog (which should be ready to go by mid-July)…

Gotta run- I’m off to the gym. No excuses for me today..

P.S.
I found this video on the Zen Habits blog, which is my new favorite blog. Lots and lots of good stuff over there..

12/31/2008

I don’t have a lot of time to write, but I wanted to get one more blog post in before 2009 is upon us…

I’ve had some ups and downs this year, but I can honestly say that what I have accomplished in 2008 has exceeded my expectations by a long shot. I’m proud of myself for getting to where I’m at right now, and even though I had to claw my way here, and even though it has been a constant struggle, I would not want it any other way. It really is an incredible feeling to look back at some of the obstacles I’ve managed to find my way around, and to see the fruits of my labor finally come to fruition.

I hope that this blog can serve as a source of inspiration to those of you who are struggling, and those who are still trying to get your first deal… It is not easy in the beginning, and there is a monstrous learning curve to tackle, but I promise you, if you are willing to put forth the effort and do whatever it takes, then you will be handsomely rewarded for your efforts. I’m not just blowing smoke up your ass here, either, I’m telling you the truth. If you don’t believe me, then go to the archives and read this blog from the beginning, and you will see what I mean…

Thanks to all of you for sticking with me this year- I appreciate your encouragement and support, and I wish you all a happy, healthy, and prosperous 2009!

HAPPY NEW YEAR!!!!!!

8/24/2008

Geeze, what a difference a year makes.

Last year at this time I was ready to throw in the towel and give up.

I don’t like to go back and read through those old posts, but I thought it might be helpful for those of you who are struggling, to read a little bit of what I was going through, and to realize that there is a light at the end of the tunnel if you are willing to stick with it….

7/22/2008

So, tonight I went out for sushi with my short sale friend Nathan. I know a lot of the people reading this have not been reading since the beginning, so you probably don’t remember last summer when Nathan was just starting up his short sale business. Fast forward a little over a year, and this guy is kicking some serious short sale ass and taking names. I have to tell you, what he has accomplished over the last year is very impressive, and I have seen him bust his ass to get to where he is now…

Anyway, we were having a beer on his patio this evening and he mentioned how he remembered that last year at this time I was running around putting bandit signs out every night, and just trying to figure out how I could make money in this market, and, at the same time, he was getting his short sale business off the ground……. And then he said something that really hit home… He said (in a nutshell), that the reason we are starting to see the fruits of our labor is because we were willing to PAY THE PRICE. We were willing to do WHATEVER IT TAKES to succeed.

I know there are a lot of beginning investors who read this blog, and I can honestly tell you that PERSISTENCE is what makes all the difference. You can buy every single course on the face of the Earth, and go to every single seminar, and pay 10 billion dollars for a mentorship program, but what it all comes down to in the end, is whether or not you are willing to pay the price. It comes down to persistence- to how bad you want it.

I know that there are a million so-called gurus out there flooding your inbox with a bunch of bullshit, and telling you how easy it is to make money in real estate (I get the emails, too). Let me be the first to tell you that IT IS NOT EASY. If you want to succeed in this business, you are going to have to pay the price. I do not know one single investor who just waltzed into success and did not pay his dues. Not one.

There is a shit-ton of money to be made in this business, but you have to be willing to work for it, and do whatever it takes to make it happen.

Success in this business is not easy, but it is there for the taking for those who really want it.

And that’s all I have to say about that.

10-4, Over and Out.