Flip This Wholesaler

3/31/2008

Well, I’m all moved in…

Everything went well, except for the fact that I got lost in the parking garage and almost got into a head on collision Friday night. Then I did it again last night (not the head on collision part, just the getting lost in the parking garage ), and then tonight, I got lost for about 15 minutes, and almost ran out of gas IN THE PARKING GARAGE. I’m not kidding. It’s like the damn Bermuda Triangle in there. Tomorrow morning I’m going to go in on foot and make a map, Indiana Jones style…. Other than that, this place ROCKS. I’m not kidding, I feel like I’m on vacation at some nice resort- the only thing missing is room service… I don’t see myself leaving here any time soon.

Yesterday, John came over, and we had mimosas on the patio,

then went down to the 8th floor where the pool is and had some NY strips on the grill…… Here’s a picture of the pool from my balcony- to the left and right, there are these ginormous grills built into these cool tables- kinda like what they have at Japanese steak houses…

Pretty cool, huh?

So, to sum up, I LOVE THIS PLACE………

And, to add to my good news, I got another REO accepted this weekend. This is the one where I took a gamble and sent my new found-buyer out to look at it before I got it under contract. The house was listed at 100k, my offer was 69k, and the bank took it without even countering!!! I got the call Friday while I was moving, and about had a heart attack!! I’m meeting my buyer tomorrow @ 1pm at Panera to get a deposit and sign papers.

Ladies and Gentlemen, I’m on a roll……….

3/20/2008

I’ve been a busy little bee this week.

The listing agent of REO #3  that just closed called me earlier in the week to thank me for getting the deal closed so fast (it wasn’t fast to me, but I guess he’s used to things taking FOREVER). Anyway, I told him I am looking for more deals like that one (read: CHEAP), and to keep me in the loop. Well, it just so happens that one of the banks was about to make a ginormous price drop (like 30k) on one of his properties. It’s a 3/2 that has been totally rehabbed. No kidding- everything is new.

I called one of the cash buyers I picked up over the weekend (he called on one of my handwritten signs) and told him about the property. He is looking for rentals that don’t need a whole lot of work, so I thought this would be perfect. He was out to look at the house within the hour (God, I love when people act fast), and he told me he would have a number for me by today at noon. My phone rang at 7:30 this morning, and it was him telling me he’ll take it @ 75k-ish.

I kind of took a gamble on this, because I don’t have it under contract yet, but I have a good feeling about him, and didn’t think he would go around me. And I was right. So, I’m waiting to hear back from the bank and see how low they’ll go. It won’t be a huge payday (hopefully 5k), but I don’t care.

Right now, I’m just trying to stockpile as much cash as I can, little by little, deal by deal. More important to me is the fact that I am starting to build relationships with some of the REO agents, and show them that I am not some Slim Shady jackass who runs around backing out of deals. I’m thinking long term here.

Yesterday I went to two REIA meetings, one during the day, and one at night. I made some really good contacts at both of them. One guy has some out of state cash buyers (California, I think) that are looking to pick up some cheap rentals (my specialty). Another investor is looking to pick some rentals up for herself.

Oh, and I think I might have found a buyer for that REO that the investor I met for coffee the other day just got under contract.

AND, remember Crazy Caroline? Well, I just hooked her up with a property that my short sale friend just got an acceptance on. I had him call her, though, because she hates me for some reason. Hehehe. Sneaky, sneaky. Hope she’s not reading this. Just kidding Caroline- you aren’t crazy. Or possessed by the devil. That was all a joke…

None of these deals are locked up yet, of course, but I figure if you throw a bunch of shit at the wall, some of it is going to stick. And if not, I’ll just throw some more.

P.S.

Skypoint countdown: T-minus 7 days….

(Picture courtesy of my buddy Bruce)

3/8/2008

Warning: This post contains curse words, including, but not limited to, F-bombs.

Well, we didn’t close deal #3 yesterday.

I called the listing agent at around 1:30 to see what the hell was going on, but he didn’t answer (SHOCKING), so I left a vm which he didn’t respond to.

You know, I understand that he’s busy and all, so I came up with a solution that might help: HIRE A FUCKING ASSISTANT.

It’s not like I’m calling to ask him what color socks he’s wearing, I’m trying to find out what the hell is going on with the deal that’s supposed to close TODAY.

The lady at the title company never called me back either, and I still haven’t received a copy of the HUD that she promised she would have to me by Thursday.

Pretty much everybody involved in this deal has their head up their ass (myself excluded).

Oh, and the addendum is still “uploaded into the system, but not signed.”

Whatever the fuck that means.

I guess the asset manager will get to it when she gets back from Tahiti, or wherever the hell she’s been hiding.

There’s got to be some way to get these closings done at my title company. Maybe I could offer to pay all of the closing costs? It would be well worth it to me.

I will be thoroughly enjoying each and every 40-cents-on-the-dollar-offer that I’ll be faxing out this weekend. I certainly don’t feel bad about taking these guys to the cleaners.

On a lighter note, the Skypoint countdown has begun. I’ll be moving in the weekend before April 1st, so, it’s T-minus 3 weeks until the big day! Can’t wait. You guys are gonna die when you see the view….

2/28/2008

Well, it’s official- I’m moving into Skypoint April 1st!!! Woohoo! I signed the lease and gave my deposit earlier today! I’m soooooooooooooo excited! The one I ended up getting is on the 21st floor with views of downtown, the Bay, and the Hillsborough River!!! SWEET. Got it at a ridiculous price, too! Hehehehe.

Spoke to the lady at the title company today about REO #3. Everything looks good on their end, so, it looks like next Friday will be an 8k payday for me. NICE.

And then I will continue to KICK 2008’s ASS!!

2/22/2008

So, I went to look at that Skypoint unit that I saw on Craigslist last week, and I LOVE IT!!! Love, love, love it. The owner and his girlfriend are super cool people, too. It would pretty much work out perfectly for all of us, because they only want to rent it for a year or two, and then move in, and I only plan on being down there for a year or two, and then moving elsewhere (Costa Rica?). They even offered to throw in their new furniture if I decide to rent it (sweet). I would have given them a deposit today, except, there’s a little problem…..

There USED to be a park right across the street (up until a few weeks ago), but now it is a construction site. I guess they are re-doing it or something. So, I asked the guy at the concierge desk where people walk their dogs, and he said, “Well, that’s kind of a sore subject around here.” I guess a lot of people with dogs bought condos here because the park was right across the street, and now the park is gone, and people are PISSED. So, I need to figure out where I’m gonna walk Jim. There’s a dog park about 2 miles away, which is fine during the day, but I’m not gonna be walking 2 miles at night through downtown. So, I’m going down there tomorrow to scope out the area and see if it’s gonna work out or not. I talked to my Mom and my friend Brett, and they both said, “Well, what do you think people in New York do?” I don’t know. I guess I could always just put Jim to sleep. Just kidding. So, anyway, I’ll go check it out tomorrow, and then make a decision. I really, really, really, want this place, though. I told the owners I would call them Sunday and let them know either way.

Oh, here’s a funny story for you….. Remember the Ronald McDonald House that I made an offer on a few months back? Well, it’s still on the market, and I have been putting in offers every 3 weeks or so for the last few months. Each offer I make is less than the previous. My objective was to just keep offering on it until I got it, or someone else did. Well, yesterday morning I put in another offer, and when I got back from the gym, I had a missed call/voicemail from the listing agent, and I just KNEW that he was calling to tell me they accepted my offer. Hehehehe. Here’s what the voicemail said, loosely:

“Hi Stephani, this is Randy Realtor calling you back about the offer you made on the Ronald McDonald House. The bank has rejected your offer, and the asset manager has advised me that she does not want to see any more offers from you on this house. Ever. If you have any questions, feel free to call me at 123-4567…….”

Hahahahahaha. Guess my plan backfired, huh? Oh, well, a little bit of rejection never killed anyone, as far as I know. I should put in another offer next week, just for kicks. Just kidding.

Have a great weekend, y’all.