Flip This Wholesaler

Hi guys.

Well, I’m officially switched over to Hostgator as of earlier this afternoon- woohoo!  As it turns out, all that worrying I did about my blog getting broken was all for not.  I was having some issues with my comments yesterday and today, but everything seems to be back up and running now.  By the way, if you commented on one of my posts yesterday or today- they got swallowed up in cyberspace somehow.  Sorry about that.  It wasn’t me, it was the internets.

So anyway, I’m happy to have that done and over with.

Along with that good news, I got a call today from a guy who saw one my signs advertising a deal that I was working on with one of my wholesaler friends.  I originally had this deal sold a few weeks ago to a new buyer of mine that was referred to me by another buyer of mine who I have become good friends with over the last few months.

Normally I don’t believe anything anyone says about buying a deal until they actually cough up the deposit and sign on the dotted line, but since my other buyer/friend vouched for him, I just took his word for it. So anyway, I emailed this deal to him (the new guy) because I knew he had other rentals in the same neighborhood, and he emailed back shortly thereafter saying that he would take the deal.  Sweet.

He asked me to send the contracts over, which I did the next day (Monday).  Then I didn’t hear from him for a whole day, so I finally called and asked what was going on.  He said he was waiting on a quote from my title company to see how much the closing costs would be, since he was paying all of them.  A reasonable request, I guess.  

Once he got the quote from my title co, he had some other excuse about having to talk to his CPA about which entity to use to buy the property, or something like that.  To make a long story short, he strung me along for an entire week, and then disappeared off the face of the Earth.  This is my biggest pet peeve in real estate, btw- when people I’m doing a deal with stop answering calls instead of just growing a pair and telling me what’s going on.

So anyway, while this jerk-off was stringing me along, another guy who saw one of my signs called and said he wanted the house.  I told him it was already sold, but took his name and number and said I would call if anything changed with my other buyer.

So, once it became evident that jerk-off was not going to follow through, I called the other guy (Jay) to see if he was still interested. As luck would have it, the number I wrote down belonged to some lady named Jenny who had no idea who Jay was.  Awesome! (I found out today that I wrote down the wrong area code).

Long story short (too late), I got a call today from Jay, who happened to see another one of my signs for a different deal. He passed on that one, but still wants the other one that he initially called about, which is still available because another buyer bailed on the deal a few days ago.

Anywho, I’m supposed to meet up with Jay tomorrow to get his deposit and sign the contracts. I’ve had so many buyers flake out on me lately, though, that I wouldn’t be surprised if this guy did, too.

I guess I’ll find out tomorrow….

Alrighty, so now that I’ve prattled on for five years and you’re probably not even awake anymore, I still have a Reader Mail video for you to watch!

In this installment, I answer Armando’s question about estimating repairs on your wholesale deals.

Here ya go…

Later Alligators!