Flip This Wholesaler

3/3/2009

I’m seriously ready to do some damage this month!

Since my trip to CR, I feel refreshed, motivated, and ready to knock this year out of the ballpark.

Being a student of Steve Cook, one of things that he really pushes all of us to do is to have a vision of what we want our lives to look like. He encourages us to work diligently on our vision, and has been telling me for the last year, that once I get clear on exactly what I want my life to look like, things will just start to fall into place.

One of my challenges that I set for myself to accomplish before our next Flip Vips retreat in April, was to really work on my vision, because up until recently, I had kind of blown this off.

I’ve been spending a lot of time this year writing out my goals, and I can tell you it makes a huge difference when you get it all out on paper and start to really focus on what it is that you want.

It’s much easier to get where you want to be if you know exactly where you’re going, you know? I know that may sound cliché , but it’s true.

For the last month or so, I’ve been working on my vision- short term and long term, and I’ve been forcing myself to review my goals first thing in the morning, and right before I go to bed. I’ve tried to do this before, but it usually only lasts a week or so, and then I stop doing it.

This time (with the help of an accountability partner), I’ve managed to stick to it every single day, and it has already made a HUGE impact on my focus and productivity. I haven’t ever felt this focused and in control. Ever. Needless to say, it’s a really good feeling..

On to real estate…

The deal that I got under contract right before I left for CR is officially sold. Lee got the contract and deposit locked up yesterday afternoon. I think he ended up selling it for 31k, and I have it under contract for 22k, so that is good news.

Yesterday I went and looked at 5 houses, but didn’t get a chance to put any offers in, so that’s what I’ll be doing as soon as I’m done writing this post. After that, I’m heading out to look at 3 more houses that I’ll be offering on later today, and am also going to put some signs out for a few properties that my buddies have under contract. Need to get my phone ringing again.

That’s about all I’ve got for now. I’ve got a busy day ahead of me, so I gotta run….

P.S.
Jessi- good luck with your deal today.

2/22/2009

Well, it’s 1:19 am, my flight leaves at 6 am, and here I am, still up, and just finished packing.

I was kind of bummed because I wanted to get another deal under contract before I left, and it didn’t look like it was going to happen…. I was in Ross today (I love me some Ross), looking for some last minute vacation flip flops, when I got one of those rare Saturday calls from an agent that I have been going back and forth on a property with for the last week….The bank finally agreed to my last counter of 22k (property was listed at 35k, I offered 20k initially, and they finally came down to 22k).

Anywho, I started to panic a little since I’m leaving tomorrow (today, actually), and won’t have cell access for the next week, so it will be really hard to try and find a buyer for this deal, and also, I don’t really feel like being stressed out about finding a buyer while I’m on vacation.

I had already called a few of my investors when I got the initial counter offer from the bank earlier in the week, and none of them were interested….. I did some quick thinking, called my friend Lee, and asked him if he wanted to partner on this deal with me (I get the deal under contract, he gets the buyer).

He went out to look at the property, called me back less than an hour later, and said let’s go for it. I talked to him around 7pm, and he said he already has it sold and should be getting the contract and deposit tomorrow.  Woohoo!

I guess I better try to get some sleep.

I promise to drink plenty of margaritas for you all while I’m gone.

¡Adios Amigos!

P.S.
I am officially almost a Cougar.

2/6/2009

It feels good to be back in the swing of things. Took me a day to get back on track, but now I’m ready to do some damage..

The deal I was working with Lee closed on Tuesday.

Still waiting on the bank’s title company to get everything ready for the duplex deal. This, of course, is the one I’m working with Murphy, and I’d like to just go on the record as saying that I think this deal is going to be added to the list of deals that we’ve worked together that have crashed and burned.

I get the feeling that something is awry, and every time the phone rings and it’s him calling, I just know he’s calling with bad news. Supposedly, the bank is trying to negotiate with the city to get a lien reduced (or something), but it seems to be taking an awfully long time, and I just think there is something else going on. Or maybe I am just paranoid because every deal that we have ever worked on together has ended up in the dumpster.

Yesterday, I got a call from an agent on a property that I offered on on (on on?) January 20th.

In case you don’t have a calendar handy- that’s over 2 weeks ago. Anyway, the property is listed at $29,900, I offered 11k (hehe), and the bank countered at $18,900.

Nice.

This house is a glorified shack, but if I get it cheap enough, I can sell it. Usually when they come down that far off of list price right off the bat, they will come down more. I’m pretty sure I can get 19k for this (famous last words), so I countered back at 13k yesterday afternoon, and hopefully will get a response back today.

I love getting good counters on Fridays, because then I have the entire weekend to get my buyers out there to look and give me feedback.

I’m back on the offer train, so today I’ll be looking at more houses, putting some signs out (in the cold), and blasting out some more offers…

Have a great weekend y’all…

P.S.
Countdown to Costa Rica, T-minus 16 days! Woohoo!

2/4/2009

Well, I took my Dad to the airport this morning, and now I am ready to get back to work. I haven’t made a single offer in NINE DAYS, and I am starting to go through withdrawal. I’m not kidding.

I don’t think I mentioned it in my last post, but I closed my first deal of ‘09 last week.

I have another one closing today that I am working with my wholesaler friend, Lee, and then there is the duplex that should have closed last week… they are waiting on a payoff on some sort of lien, or something like that, so who knows when that one will close.

Oh, and then there is the deal I’m going to lose money on, which I don’t really want to talk about right now. Except to say that it would be really nice if the title company (Watson, who SUCKS) was not ready to close on the 10th, so I could cancel my contract and get my deposit back. That would be awesome, but I’m sure this will be the one time in a million that they are actually ready to close on schedule. Bastards.

Since I don’t have any other deals of my own to sell right now, I called my buddy Lee (the one I am closing the deal with today), to see what he has available. I don’t think there is a wholesaler in Tampa who does more volume than him, so I always go to him when I don’t have any of my own deals to sell. I’ll be marketing the living hell out of a few of his deals over the next couple of days, which will get my phone ringing again, and get me back into the swing of things, and hopefully make me some easy cashola.

Over and Out!

P.S.
If you went to Denny’s yesterday for their free breakfast and didn’t tip your server, you are an asshole.

1/27/2008

I’ve been having some technical difficulties (shocking) with my blog lately. Not sure what the problem is, but I hope it doesn’t persist. Not sure if it’s my computer, or Blogger, or just my horrible luck with all things electronic….

So, the REO that was supposed to close Friday SHOULD be closing tomorrow. That is, if the bank’s stupid, worthless, title company can get their shit together. I’m not holding my breath. Here’s the last email we received from them Friday at 4:14 pm (this came after trying to get in touch with them on the phone all day to no avail)….

Lee- (Lee is my buyer)

I added the proration for taxes- gives you a credit of $144

The only other thing I need to run by you . . . you remember yesterday I was waiting on completed lien search, which I do have back. . . the only issue is that the city placed a code violation against the property for “trash, debris, and vegetation overgrowth on the property”. Good news is that as of now it stands as a warning and no liens/fines have been assessed. I called the city earlier and according to the code enforcement dept. the city will complete a final inspection of February 11th- if at that time the violations have not been brought up to code then the city will attach a fine to the outstanding violations. . . its fairly standard and the violations are probably due to the fact that the property has been vacant. Just so you have it, here are a few contact #’s-

City of Tampa- Code Enforcement- 813.274.5545

Ryan Shepard is the city inspector who will be completing the final inspection on the 11th- his direct line is 813.426.6026 (I called him earlier and left a message)

I’m forwarding everything to Kristina now- should be okay for closing later on tonight. . . Let me or Kristina know if you have any questions. . . Thanks!!
……………………………………………………………………………………………………

And that’s the last we heard from Nate.

I tried to call the office shortly after we got this email to find out what time the closer (they are using a mobile closer because their office is a few hours away) was coming, and also to give him the address of where we wanted to close (my buyer’s house). No answer.

So now, we are out of contract, and have to get an addendum signed by the bank and to the title company, and since both parties take FOREVER to get shit done, I’m guessing we are looking at another 2 days or so. If we were using my title company, this would have been closed at the beginning of last week.

Stupid banks.

Still haven’t heard back from the other REO, which I’m guessing means that someone else bid higher. I’m sure I’ll see it in my inbox in the next day or so from another wholesaler.

I just got done faxing out 4 offers, and should have 5 more to make tomorrow. Still time to get in one more before the month is over……