Flip This Wholesaler

7/14/2008

*The deal that was supposed to close last Monday, then Wednesday, then today, is closed. Well, for the most part, anyway. Everything has been signed by me and the buyers, but as of 4:30 pm (that’s when I went in to sign), the wire from their hml was still not there. It should be there in the morning, but I wouldn’t be surprised at all if it wasn’t. I have a backup buyer waiting in the wings if it doesn’t fund, but hopefully it won’t come to that.

*I’m on a mission to get another deal under contract by the end of the month so I can reach a financial goal I set for myself at the beginning of the year. I am close, but not there yet.

*Jim ate my favorite pair of shoes while I was out looking at houses today. I usually take him w me, but I had to stop at the grocery store on the way back, and it is getting too hot to leave him in the car, especially since I can only leave the windows halfway down because he will jump out and run after me if I leave them all the way down. I need a Dog Whisperer.

*My back is finally better after 3 months of being screwed up, so I went back to running yesterday and can barely walk today. Painful, but in a good way. Also, they just opened this gym right behind where I live called the Sweat Shop, and they have this 10 week kickboxing course that starts at the end of this month that I’m going to enroll in. There are 60 classes -6 days a week for 10 weeks. I can’t wait.

*I received my 20th email today (no exaggeration) about a new ebook that has just been launched, and so I decided to take a half hour out of my day to unsubscribe to most of the email lists that I subscribed to a year or so ago. Seems that most of the people that used to sell deals are now selling courses or mentorship programs, etc. Not that I have anything against selling stuff, but it just gets kind of irritating after awhile, especially if you are not in the market for a new real estate course, and especially when you get 20 emails over the course of 3 days that all say the same thing. Enough already.

And that’s all she wrote.

10-4, over and out.

7/13/2008

Sorry for being a bad blogger. I’ve been doing some rethinking of my plans/goals over the last few days, and also getting some things taken care of that I’ve been procrastinating doing for too long. You know how that goes.

Anyway, I’ve got all kinds of stuff to talk about……

Let’s see….. the deal that was supposed to close Monday, and then Wednesday, is not closing until tomorrow (supposedly), because the idiot mortgage joker, I mean broker, is a moron. First he “misplaced” the inspection report that was done two weeks ago and didn’t “find” it again until Monday (my guess is it was sitting underneath an empty bag of Fritos in the backseat of his SUV), then he tells all of us Tuesday evening that everything is good to go and we are closing Weds. at 2pm. I ended up getting a call from the girl at the title co at around noon Wednesday telling me that the hard money lender is not ready to fund the deal yet. It’s a long, more involved story that I don’t feel like rehashing right now, but I will say that I once again learned another valuable lesson on this deal, so, the way I look at it, it was worth the hassle because now I am that much wiser. How’s that for a positive attitude?.

The other deal that was supposed to close Friday…closed Friday……so, that’s good news.

Oh, I FINALLY got a closing date for the deal that was supposed to close last month (the pink house) where they sold the property off to another lender (or something like that- I still am not exactly sure of what transpired) at the last minute. That one is closing the 25th of this month (again, supposedly), and I am making an extra grand on it because my wholesaler friend who has it under contract told the bank that he wanted it cheaper because values are dropping by the month- so, they gave him the discount. He is 2 for 2 with this little trick, so keep that in mind in case it happens to you.

The deal I just got under contract that I am selling to my new buyer that I found last month is scheduled to close on the 24th. This is the first Fannie Mae property I’ve wholesaled, and I guess I missed the memo about them letting the buyer pick the title company (and also “letting” the buyer pay all closing costs- oops). I can’t tell you how nice it will be to actually be in control of the closing for once and not have to depend on some random title company in Ft. Lauderdale that I can never get a hold of, and that could care less whether my deal closes on time or 1 month from on time.

I have a few other stories to tell- like how the new buyer I found last month who I met at Starbucks Friday for the first time is seriously, by far, the most handsome man that I have ever seen in my entire life (I hope Roger is not reading this), and also how I won lunch for 15 people at the Thai restaurant behind Skypoint….but, this post is getting long, and it’s getting late, so I will save it for another day.

I’ll leave you with some pics I took today when Jim and I went to Davis Island. There was a dolphin frolicking in the water not far from shore, which made my day. I think Jim had a good time, too…

Jim. 1 second before taking off after a squirrel.

Yes, that’s a cruise ship in the background- if you click on
it you can see better.

God, I love that dog.

5/4/2008

I put out a bunch of signs on Friday advertising the deals my wholesaler buddy just got under contract. Strangely, I only recieved 1 call from all of them, which is really odd- my phone usually rings off the hook when I put signs out. I was thinking maybe I put the wrong number on them, but I did get that 1 call, so I guess that’s not the case.

I also put some ads on Craigslist, and only got 1 response. I’m pretty sure the girl who responded (via email), just got done reading whatever course it is that tells people to go on Craigslist and send an email to every single ad that says “Investor Special” or “Handyman Special.” They always say the same bs. Something like this…… “I am a CASH buyer, and would like to buy your property with CASH” (the word cash is always capitalized, because, you know, capitalized cash is WAY better than regular-old-lower-case-cash). Anyway, along with being a CASH buyer, these people I guess are too lazy to click on the freaking ad and READ it, because, even though I put the address in the ad, the person always asks me for the property address, which is really, really, irritating. And then, they always ask for multiple, high quality digital photos of the property (even though there are already pics in the ad), because, God forbid if you had to get off your lazy ass and go look at the thing yourself. Anyway, I usually play along, and sometimes even accept their half price offer, and then when I ask them to fax me proof of their CASH along with a non-refundable 5k deposit, they seem to drop off the face of the Earth. At least if you’re going to bullshit, be a prepared bullshitter, you know?

My dog Jim taught himself a new trick over the weekend. He calls it “Jump out of the car window while Mom is in the grocery store and almost get run over by an SUV.” Scared the living shit out of me. Little bastard.