Flip This Wholesaler

Hi Guys and Gals!

How was your week?  Everybody making lots of offers and lots of money?

All is well over here in Tampa, minus the fact that I haven’t seen the sun in about 4 days, and also, I’m FREEZING MY ASS OFF.  I know many of you are buried under seven hundred feet of snow and are without electricity and you probably want to crawl through the computer and strangle me when I complain about it being fourty effing degrees here, but I can’t help it.  THIS WEATHER BLOWS. It’s no accident that I live in the Sunshine State, so I feel entitled to complain.

Anywho, enough about the weather- let’s talk real estate, shall we?

I thought I was going to be writing a post today about a new REO deal that I just got under contract, but that ain’t happening, apparently.  I’ve actually been negotiating with the bank on this particular deal since last week and thought it was in the bag.  The house has been on the market on and off  for over two years.  Two. Years. Seriously.  It’s currently listed for $25,000 and my initial offer was $12.2k.  The house is a piece of crap located on Piece Of Crap Street, but I’ve got a buyer who happens to like this little area and he’s looking for something in the el cheapo price range, and this dump fits the bill…

So, anyway, I offered 12.2k, all cash, no contingencies, with a 3 day closing.  The bank came down from $25k to 16k on their first counter, which was quite shocking, in a good way.  Nine times out of ten when they come off their list price that much right out of the gate, they will come down more.  So, I countered back at 13.5k last week and have been waiting and waiting for a response.  I already ran the deal past my buyer, who said he would be interested at 20k-ish.

I finally got a call back from the agent yesterday letting me know that they got a full price offer and asking  if I was interested in coming up any more.  HAHAHAHAHA!  Yeah, no thanks.

I figured it was a wholesaler who put it under contract, so I checked Craigslist a few hours later, and sure enough, the property was listed with a nice little 7k markup.  There’s no way in hell anyone is going to pay that much for that property, so I expect to see it hit the market again in the next 3-10 days, depending on how long the inspection period is.  I already let the agent know that I’m still interested, and I’ll be checking in with her every couple of days so she doesn’t forget…

Aside from that, I’ve got a few other deals I’m working on with my wholesaler buddies, but nothing under contract at the moment.  I’ve also got a few out of state buyers that are looking for deals in Tampa, as well as some of my local buyers who have been calling me looking for houses.

And that’s about all I’ve got for now, folks.  Gotta run- time to make the doughnuts.

Have a great weekend, Everyone!

P.S.
Things are not going so well for Chef Steph. My Scallops Parmesan turned out disastrous and had to be thrown away. Seriously, it was that bad.

Ewwwww.  I can barely look without gagging a little bit.

Hi Everybody!

Hope you are all having a great weekend so far!  

Are you getting ready to cheer on your favorite team in the Super Bowl? (Or as I like to call it- the Stupid Bowl. Hehe).  I’m not a big football fan (at all), but I do like to watch the commercials.

While all of you are eating chicken wings and drinking beer, I’ll be answering phones at my brother Niko’s pizza shop in Clearwater.  This is always a real good time, as you can imagine.  The phone literally rings off the hook for like 3 hours straight, and the majority of the people who call are hammered, don’t have a clue what they want to order, and can’t be heard over the 685 people screaming in the background.  It’s awesome.

So anyway, I told you earlier in the week that I had a guest post coming up from Justin McClelland (I call him Mr. Hustle, btw), which I had meant to post on Friday, but I felt so inspired about giving away the Douchebag Award that it didn’t happen.  So I’m bringing it to you today, on this lovely Stupid Bowl Sunday.

If you aren’t already a reader of Justin’s blog, I recommend you add him to your blog roll.  If you look up the word “Hustle” in the dictionary, I’m pretty sure you’ll find a picture of him staring back at you.

Please give a warm welcome to Justin as he talks about 8 different ways to find buyers for your wholesale deals (it’s broken up into 2 videos, as it exceeded the YouTube time limit)…..

Thanks Justin, for doing the videos for us!

If you guys have any questions or comments about any of these strategies, please feel free to ask away- we’ll both be happy to answer!

Enjoy the Stupid Bowl, Everybody!!

P.S.
If you decide to order pizza during the game, don’t forget to be nice to your order taker. Also, it’s helpful if you figure out what you want to order before you call. Just sayin…

P.P.S.
Don’t forget, The Flip This Book Club will be meeting back here tomorrow at 8pm sharp!

P.P.P.S.
Do any of you tech-y guys out there, have any idea why my Facebook Fan Page badge decided to break? I had to take it down today because this is what it looked like in my sidebar:

Then when I went to Facebook to try and get new html to put in the text widget, it looked like this:

Any advice would be appreciated- thanks!!

P.P.P.S
I’m going to be in pizza-order-taking hell for the rest of the day, so if I don’t respond to comments or emails ’til tomorrow, that’s why.

Hi Everybody!

Long time no post, sorry.

I’ve been a busy little bee over here these first few weeks of 2010. I managed to get my first deal of the year under contract and closed already. Woohoo! It was another JV deal that I did with a wholesaler buddy of mine. Not a huge payday (3k), but I literally had less than an hour of work into it, so I’ll take it.

I did a phone call with Alex Pardo earlier in the week where I go into detail about how the deal went down. The call is about 45 mins, and we also cover some other topics that I think you will enjoy (building your buyers list, staying motivated when you’re just getting started, etc). If you’d like to listen in on the call, click here. It’s not a sales call, just content. Hope you enjoy!

I’m writing this post from a restaurant in the Atlanta airport, as I’m en route to a last minute business trip to St. Louis where I’ll be meeting up with Charrissa Cawley and checking out her bus tour.  It’s going to be a great weekend, and I’m really excited about it.  I’ll explain in more detail when I get back on Monday.

Hope you guys have a great weekend!  Gotta run- my plane’s about to board.

Later Alligators!

P.S.
I just created a Flip This Wholesaler fan page on Facebook- I’d love for you to become a fan!

P.P.S.
If you haven’t listened to the Red Pill yet, I highly recommend doing so. It’s an hour-ish of really awesome motivational content. I’ve listened to it twice already. You do have to opt-in, but it’s worth it. Also, make sure to check out the recommend reading list and affirmations at the bottom of the page once you opt in. Good stuff! Click here to get it.

Happy Wednesday Blogosphere!

So, I don’t actually have confirmation yet, but it looks like the deal I am working on with my buddy is in a little bit of trouble.  He got an email from the title company yesterday afternoon saying that there is a mortgage still attached to the property. SWEET!!!!

It’s kind of funny, actually (in a non-funny sort of way), because I was just talking to a wholesaler friend of mine over the weekend, and he was telling me about an REO deal that just blew up in his face.  Apparently, the law firm who handled the foreclosure forgot to foreclose on one of the loans and so they had to go back and start all over again. He was supposed to make 18k on the deal (Cha-Ching!), and it just went up in smoke right before his very eyes.  Awesome.

Anyway, the non-funny part is that after he told me the story I said how surprised I was that I’ve never had that happen to me, and then right after the words popped out of my mouth, I mentioned that I should probably shut my big fat trap before I jinxed myself.  Hahahaha.

So anywho, like I said, we don’t know for sure what’s going on yet, but should find out more today. We did however, do some investigating online last night, and it appears that there were some serious shenanigans going on (as opposed to the non-serious variety) when this property was purchased. This house is in the quasi-hood (right on the outskirts of the hood), and the previous owner somehow managed to take out $227,872.05 in loans on the property, even though the purchase price was $83,500. Holy mortgage fraud, Batman!

Hopefully she spent the excess funds on something nice.  Like a plasma TV or a big-ass, gas-guzzling SUV. Or something else that ends with a V…

Alrighty then, gotta run.

10-4, over and out.

P.S.
Red dot count = 11!
Woohoo!

P.P.S.
Flip This REO! eBooks make great Christmas gifts…
Click here to grab yourself a copy!
Hohoho.

Hi Guys.

It’s been awhile since I’ve posted, and I have all kinds o’ stuff to talk about, so grab yourself a refreshing beverage and pull up a chair…

First of all, I’m happy to report that, as of Friday afternoon, I removed all of my email accounts from my Crackberry!

After two weeks of trying to limit my email checking to only twice/day, I finally came to the realization that it wasn’t going to happen if I have my Blackberry on me all the time.  And since I can’t really ditch my phone, I decided to just delete the email accounts and be done with it.  It’s kind of like how I can’t have any candy or chips or cookies in my house, even if my intent is to only have a little bit once in a while to treat myself.  What happens is, I will eat all of it in one day, no matter how hard I try not to.  So, I just don’t ever buy any of it.  Problem solved…

So, anyway, I’ve been without email on my phone all weekend, and it’s been AWESOME.  I’ve decided to check email from my computer twice daily (noon and 7pm), and so far, it’s working out just fine.  It has only been 2 days, but I’ve been much more productive without the constant distraction of that stupid red light beeping in my face and tempting me…

Oh, I also finally committed Twittercide, and this time, I’m not ever going back.  I tried my best to get to know and love Twitter, I really did, but the truth is, I think it’s stupid and I hate it.

There, I said it.  I HATE TWITTER.

I am officially a Twitter Quitter.  Hehe.

Moving on to the real estate front….

I spent the weekend putting out signs (my sign guy seems to have disappeared into thin air), looking at houses, and looking for new buyers.  I was out the door at the crack o’ 7am both today and yesterday.  I put out 50 signs total- 30 on Saturday, and 20 today.

I had only planned on putting 30 out, but since I didn’t get one single phone call on Saturday (which I thought was very odd),  I got pissed and decided to go back and put out 20 more today.   After driving around for a little while this morning, I soon solved the mystery of why my phone hadn’t been ringing the day before….some asshole thought it would be a good idea to pull all of my signs up and toss them on the ground.

Exhibit A:

Exhibit B:

There are about 20 more Exhibits, but I think you get the picture.

Good times.

I’m about 99% sure it was another wholesaler who did it- perhaps the one who has signs out all over the place advertising a 3/1 block for 49k (mine is a 3/1 block for 42k).  Probably has a little bit of deal hate going on…

So anyway, after I finished replacing my signs, I spent a good part of the day today hunting down some of the cash buyers that have recently bought properties off of the MLS.  I did an MLS search last night and came up with 15 cash investor sales in the last 30 days in the zip code that I am working in.  I drove by all of the houses today, and ended up getting 7 numbers from For Sale or For Rent signs that were in the front yards.  Not bad.  I’ll give them all a call in the morning, and let you know how it shakes out…

Other than that, I’ve been busy making offers and working on deals with some of the other wholesalers I know.  I got a counter back from the bank Friday on a duplex that just came back on the market.  It’s a nightmare inside and it’s on a not so good street, but I have a buyer who loves him some duplexes in the hood, and I’m pretty sure he’d take this one if I can get them down a wee bit more…

OK, I have some other stuff to talk about, but I will save it for the next post since this one is turning into a novella.

Adios Amigos!

P.S.
In case any of you are wondering why there are no apostrophes in the title to this post- for some reason, they just don’t show up. No idea why. Just an FYI for those who may be thinking I don’t know how to spel.  Hehe.