Flip This Wholesaler

Busy day today.

I got counters on three of the properties I offered on earlier this week, one of which was a 10k price drop. It’s usually a good sign when the bank drops the price substantially on the first counter, so I’m thinking I can get them to come down a little more. I’ve been after this particular property for about five months now- it keeps going under contract and then popping up on the market several weeks later.   Good news for me, bad news for the bank…

If I can get them down a few thousand more, I’ll have myself a deal.   The property is in a neighborhood that one of my favorite buyers likes, and I know he is looking for deals right now, so hopefully it will all work out.

I also got a call from an REO agent today about a property that I offered on almost 3 months ago.  At that time, it was listed at 33k and I offered 13.5k.   The bank rejected my offer three months ago, but the agent told me they are getting ready to do another BPO and she thinks the bank will take 13.5k this time around.  I haven’t been inside the house since I made the first offer three months ago, so I’m going to go check it out again in the morning to refresh my memory…

Let’s see…what else?

Oh, one of my wholesaler friends called to tell me about a property that is about to hit the market in the next day or so…  The listing agent is giving him first dibs on the house (damn dirty agents!!!!),  so I went to check that out today as well.  Another one of my buyers is looking for properties in this neighborhood in the same price range, so this could potentially turn into a deal, too.

I’ve also got about 10 other offers floating around, so I should be getting feedback from those over the next couple of days.

Lots of lines in the water, just waiting for a bite..

And that’s all I’ve got for today, folks.

Adios Amigos!

P.S.
My plan to check emails only once/day is not working out so well.
I need an intervention, I think.

7/27/09

Holy crap, it feels like I’ve been gone FOREVER!

Sorry it took me so long, but, like I said in the video- I had to go through all the old posts (and there are lots o’ them), and try to categorize them so they made sense.

Needless to say, the whole process took me a wee bit longer than I had anticipated.  And I still haven’t gone through 2007 yet.  Actually, I made it through January, and that’s it.   Not so much because I didn’t have the time, but more so because that year was a freaking nightmare, and I’d prefer not to relive it.   It’s painful reading through some of the stuff in the beginning.  Ick.

Anywho, it’s nice to finally have everything up and running.  I was going through blog withdrawl..

While I was away, I ended up closing on the deal I got under contract in the beginning of the month.  It actually closed EARLY, if you can believe that.  Go ahead and mark that one down in your calendar, as I’m sure it will never happen again.

Of course, a deal wouldn’t be complete unless something went wrong, and this deal was no exception.  It actually could have turned out a lot worse than it did, but still..

To make a long story short, my buyer decided that it would be a good idea to switch the utilities into his name, move into the house (air mattress and all), install a window ac unit, put up blinds, and mulch the front yard.

He did all of this BEFORE the closing.  And no, I’m not kidding.

Wanna know how I found this out?

I got an IRATE phone call from the listing agent, who went by the house two days before the closing, saw his handiwork, and wanted to know what the hell was going on.

This is not a phone call that you want to be getting when you are trying to make friends with an REO agent so they will feed you pocket listings.

I was totally caught off guard, and did the only thing that I could think of:  I blamed it on my imaginary contractor.

The agent told me (in so many words), that if I make any more offers on her properties, she’s going to throw them in the trash can.  Woohoo!

I can’t say I blame her.  She told me she’s been trying to get in this asset management company’s good graces for 3 years, and has finally started to get a ton of listings from them.  If they caught wind of the shenanigans that were going on at the house, they would pull her listings and she would be screwed.

Good times, eh?

I almost dropped the f-bomb on my buyer, but figured, the damage was already done so what’s the point?

Thank God the deal ended up closing, I got my money, and now I’m on to the next…

It’s 5:25 am right now and I haven’t been to bed yet, so I’m going to sign off.

I hope you guys like the new blog..

For those that have been reading via feed,  please subscribe to my new feed: http://feeds.feedburner.com/flipthiswholesaler The old feed will no longer be updated…

Also, please be sure to update your links if you are linked to me.     And follow me on Twitter.   And Facebook.  And sign up for my Flip This! Newsletter.    And give me your firstborn child.. hehe.

Later Alligators!

P.S.
Thanks to Shae and Scott for helping me out with my technical difficulties.

P.P.S
Joelle from Moxie Design Studios ROCKS.

P.P.P.S
If you’ve sent me a private msg or email recently and I haven’t gotten back to you, please don’t take it personally. I’ve been swamped, and am way behind…

P.P.P.P.S
Hi Mom! XOXOXO