Flip This Wholesaler

Hi Guys and Gals…

Hope you all had a fantastic weekend!

I just whipped up another Reader Mail video for your Sunday night/Monday morning viewing pleasure.

If you have further questions after watching the video, feel free to leave them in the comments section and I’ll be happy to answer them…

Enjoy!

P.S.
If you need a proof of funds letter to submit with your REO offers, you can get one for free at FundThisWholesaler.net.

P.P.S.
If you have a bajillion questions about the REO wholesaling process and want them all answered ASAP, pick up my Flip This REO! eBook today!

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.

Happy Friday, Blogosphere!

It’s been a busy week over here in Steph Land.

I’ve been making lots of offers, marketing properties for my buddies, and hunting down new cash buyers to add to my list.

Of the 12 offers I made last weekend, 4 of them were rejected, 3 went to highest and best (I wasn’t the best on any of them), 2 of them I got counters on and am still going back and forth with the bank, and the others I never heard anything back from the agents, so I’m assuming they were rejected.

My buddy Lee (aka the REO Rockstar) just got a property under contract in my favorite hood, so I spent the morning trying to get it sold. I sent a few of my buyers out to look at it, but haven’t heard anything back yet.

I’ve also got 20 signs out in the neighborhood, so I should be getting quite a few calls from those. Tomorrow morning I’ll head out to get some numbers off of “For Rent” signs and call those people up to see if they want more houses.  I would have done this today, but it was getting close to noon, and the streets were starting to fill up.   Even though I thoroughly enjoy being whistled and barked at (who doesn’t?), I decided I’d rather go back in the morning when most people are still in bed with hangovers.

I’ve been doing a bit of research on the MLS lately, just to see what’s been going on, and I noticed that the City of Tampa is now buying up quite a few REO properties in the neighborhoods that I work in.  So…. it looks like I will be competing with them for deals, too.

Yay!

According to this article,  they have close to 14 million to spend, which will go a loooooong way, especially when they are purchasing properties for 20k and under.

Perhaps I need to look for a new favorite neighborhood.

Or maybe I should send the City a letter telling them they need to get the hell off my turf- OR ELSE. I got street cred in the hood, yo.

Well, that about wraps it up for now..

I’ll leave you with a hilarious video that Shae posted on Facebook today.  It sums up the REO offer-making process quite nicely…

[youtube]http://www.youtube.com/watch?v=SM7oWKgCVo4[/youtube]

Have a great weekend, y’all- and don’t forget to pick up a copy of my shiny new eBook- Flip This REO! Click here to grab one now!

Later Alligators..

Hey Guys!

I’ve got another Reader Mail video for ya.

This one is all about REOs and earnest money deposits….

Enjoy!