Flip This Wholesaler

Holy crap, I’ve had a loooong, productive day.

I was up at 5:30 am, worked all day, went for a 3.75 mile run, interviewed Eileen for my  brand-spanking-new Flip This Success Story series that I’ve been procrastinating doing for the last, oh, 3 months or so, and then I decided to cap the day off with a Reader Mail video for you guys.

I’m beat.

Speaking of beat- I hate to beat a dead horse, but I seriously want to bash Windows Movie Maker in the face as hard as I can with a shovel.   We are officially broken up and I will be seeking a replacement ASAP.

Anywho, I hope you enjoy the Reader Mail.  You can kind of tell I’m a wee bit tired when I totally lose my train of thought and forget what I’m talking about in the first few seconds of the video.  Hehe.

Enjoy your weekend Everybody.

Hola Blogosphere!

How’s Everyone’s week going so far?

Things are off to a great start here (minus the weather).  Brrrrrrrrrrrr.

It  looks like I may be putting another deal together with one of my wholesaling compadres.  This particular property hit the market at the end of last week at a ridiculously low price.  I thought about making an offer on it, since one of my new buyers is looking for deals in this neighborhood.  I sold her a similar property towards the end of last year, and she just called me a few days ago asking if I had anything else.

So, anyway, I thought about making an offer on the property until I saw who the listing agent was. I’m sure I’ve probably mentioned this before, but a good majority of the REO agents around these parts are in bed with some of the wholesalers (not literally, that I know of), and this particular agent is in bed with one of my wholesaler buddies, so I didn’t even bother to make an offer on it, because I don’t like wasting my time.

Anywho, my buddy who is in bed with the listing agent knows that I have buyers in the neighborhood where this particular house is located, so he called me yesterday to tell me he’s getting the deal and to ask if I have someone for it. The contract price with the bank is 22k, and I think I can get 30k-ish from my buyer, so we’ll see.  I’ll call her first thing in the morning and have her check it out.

I’ve also got one other buyer who is always looking for properties in this neighborhood, but I hate dealing with him because he is a cheap bastard.  I seriously could call him up tomorrow and tell him I am selling a 4/2 2000 sf home that was built in 2009, needs no work, and is worth 200k, and offer it to him for five dollars, and he would try to get it for $3 with me paying all closing costs. He drives me up the freaking wall.  I have learned to jack my prices up between 8-10k when I bring him a deal because he LOVES to beat me up on price.

So anyway, I’m pretty sure I can get one of those two to take it, even though it is a piece of crap property in the hood.

It’s all good in the hood, ya know?

Ima sell me a house in the hood.  Teehee.

In other, non-real estate related-news…… check out what my Mom got for me:

PINK POTS AND PANS!!!!

Aren’t they the cutest things you’ve ever seen in your entire life?  This is actually the very first set of pots and pans I’ve ever owned in my 30 some years of life on this planet.  I feel all grown up now. (THANKS MOM! XOXO)

I’d like to say that my first attempt at cooking in them was a great success, but then I would be lying.  This is the recipe I tried, which, thankfully didn’t turn out as bad as the Great Scallop Disaster of 2010, but was nothing to write home about either.  I’d give it 3.5 stars out of 10.  It photographed well, though, which is almost as important….

Looks just like the picture in the recipe, doesn’t it?  Too bad it tasted like spicy cardboard (I went a little overboard with the crushed red pepper again).

Alrighty then folks, that’s about all I’ve got for now.  Hope you all have a great week!

10-4, Over and out.

P.S.
I had no reason for naming my post what I did, other than the fact that I have had that song stuck in my head ALL DAY, and I was hoping you all would join me in my misery. You’re welcome.

P.P.S.
“We don’t need no water let the mo*#er fu$#*r burn…..”

Hola Ladies and Gentlemen!

I hope you all are enjoying your weekend.  I also hope you didn’t forget my Valentine’s Day present for tomorrow…

My gift to you is this Reader Mail video that I just threw together.  And when I say “threw together” what I really mean is that it took me 4.5 hours to make because Windows Movie Maker hates my guts.

Anyway, hope you enjoy it!

Later Alligators!

P.S.
If you haven’t subscribed to my YouTube channel yet, you can do so by clicking here, then clicking on the yellow “subscribe” button above the video.

Hi Guys and Gals!

How was your week?  Everybody making lots of offers and lots of money?

All is well over here in Tampa, minus the fact that I haven’t seen the sun in about 4 days, and also, I’m FREEZING MY ASS OFF.  I know many of you are buried under seven hundred feet of snow and are without electricity and you probably want to crawl through the computer and strangle me when I complain about it being fourty effing degrees here, but I can’t help it.  THIS WEATHER BLOWS. It’s no accident that I live in the Sunshine State, so I feel entitled to complain.

Anywho, enough about the weather- let’s talk real estate, shall we?

I thought I was going to be writing a post today about a new REO deal that I just got under contract, but that ain’t happening, apparently.  I’ve actually been negotiating with the bank on this particular deal since last week and thought it was in the bag.  The house has been on the market on and off  for over two years.  Two. Years. Seriously.  It’s currently listed for $25,000 and my initial offer was $12.2k.  The house is a piece of crap located on Piece Of Crap Street, but I’ve got a buyer who happens to like this little area and he’s looking for something in the el cheapo price range, and this dump fits the bill…

So, anyway, I offered 12.2k, all cash, no contingencies, with a 3 day closing.  The bank came down from $25k to 16k on their first counter, which was quite shocking, in a good way.  Nine times out of ten when they come off their list price that much right out of the gate, they will come down more.  So, I countered back at 13.5k last week and have been waiting and waiting for a response.  I already ran the deal past my buyer, who said he would be interested at 20k-ish.

I finally got a call back from the agent yesterday letting me know that they got a full price offer and asking  if I was interested in coming up any more.  HAHAHAHAHA!  Yeah, no thanks.

I figured it was a wholesaler who put it under contract, so I checked Craigslist a few hours later, and sure enough, the property was listed with a nice little 7k markup.  There’s no way in hell anyone is going to pay that much for that property, so I expect to see it hit the market again in the next 3-10 days, depending on how long the inspection period is.  I already let the agent know that I’m still interested, and I’ll be checking in with her every couple of days so she doesn’t forget…

Aside from that, I’ve got a few other deals I’m working on with my wholesaler buddies, but nothing under contract at the moment.  I’ve also got a few out of state buyers that are looking for deals in Tampa, as well as some of my local buyers who have been calling me looking for houses.

And that’s about all I’ve got for now, folks.  Gotta run- time to make the doughnuts.

Have a great weekend, Everyone!

P.S.
Things are not going so well for Chef Steph. My Scallops Parmesan turned out disastrous and had to be thrown away. Seriously, it was that bad.

Ewwwww.  I can barely look without gagging a little bit.

Happy Wednesday Blogosphere!

So, I don’t actually have confirmation yet, but it looks like the deal I am working on with my buddy is in a little bit of trouble.  He got an email from the title company yesterday afternoon saying that there is a mortgage still attached to the property. SWEET!!!!

It’s kind of funny, actually (in a non-funny sort of way), because I was just talking to a wholesaler friend of mine over the weekend, and he was telling me about an REO deal that just blew up in his face.  Apparently, the law firm who handled the foreclosure forgot to foreclose on one of the loans and so they had to go back and start all over again. He was supposed to make 18k on the deal (Cha-Ching!), and it just went up in smoke right before his very eyes.  Awesome.

Anyway, the non-funny part is that after he told me the story I said how surprised I was that I’ve never had that happen to me, and then right after the words popped out of my mouth, I mentioned that I should probably shut my big fat trap before I jinxed myself.  Hahahaha.

So anywho, like I said, we don’t know for sure what’s going on yet, but should find out more today. We did however, do some investigating online last night, and it appears that there were some serious shenanigans going on (as opposed to the non-serious variety) when this property was purchased. This house is in the quasi-hood (right on the outskirts of the hood), and the previous owner somehow managed to take out $227,872.05 in loans on the property, even though the purchase price was $83,500. Holy mortgage fraud, Batman!

Hopefully she spent the excess funds on something nice.  Like a plasma TV or a big-ass, gas-guzzling SUV. Or something else that ends with a V…

Alrighty then, gotta run.

10-4, over and out.

P.S.
Red dot count = 11!
Woohoo!

P.P.S.
Flip This REO! eBooks make great Christmas gifts…
Click here to grab yourself a copy!
Hohoho.