Flip This Wholesaler

So, today I decided to put out 10 handwritten signs advertising one of the properties I’m trying to wholesale that is in the hood. I only have one “hood buyer” that will buy in this area, so I figured I would put some signs up, and while I was at it, take down some telephone numbers of any properties that had “For Rent” signs in the front yard. I have found 2 solid cash buyers by doing this- one of them is buying the REO that I currently have under contract.

I usually try to get at least 10 landlord phone numbers while I’m scoping out a particular area. I think I was up to 8 when I happened to look in my rearview mirror and see some random dude chasing after my car on foot and screaming at me. I’m not kidding.

Scared the living shit out of me.

I don’t know if he thought I was a drug dealer or a prostitute or what, but I didn’t stick around to find out. I was so flustered trying to get the hell outta there that I almost ran over a lady who was crossing the street in a wheelchair. No lie.

I’m staying the hell out of this area from now on unless I’m packin heat. Last time I came to look at a house in this neighborhood, I ended up vomiting on the living room floor because the smell was so repulsive and there were dead cockroaches and syringes all over the place. Then, when I was leaving, there was a lady running down the street in her pajamas carrying a baseball bat.  I wrote about it here.  Anyway, I’m done visiting this neighborhood.

It’s all good in the hood.

1/3/2008

Well, I got my buyer added to my contract with no problem. I met him at Starbucks this morning to sign everything and get his deposit. I was all worried that the listing agent was going to pitch a fit about me adding another buyer to the contract, but he didn’t even care. Sweet.

Also, my buyer told me that he will be ready to buy another property in about a month, and then another, and then another, etc. He’s been doing this for 20 years (up until now, he was buying at auction), but if I can keep delivering him good deals, he will keep buying them from me. SWEET.

I need about 5 more buyers like this, and I will be sitting pretty. By the way, I found this guy by driving around the neighborhood where I had a deal I was trying to sell and calling all of the for rent signs to see if the landlords were looking for more properties. It took me a few hours to do, but it was definitely worth it.

Tomorrow I’ll be back to making offers. My goal is 100 offers a month, which is very doable if I stay focused.