REOs and Inspection Contingencies- Saturday Night Reader Mail

Saturday, February 27, 2010

Hi Guys,

How’s your weekend shaping up so far?

I had another highly productive Saturday today.  Been up since the crack o’ dawn hustlin away.  Looks like I’m going to be getting a contract signed tomorrow, but I’ll save the details for later since it’s not official yet and I don’t want to jinx myself.

I just whipped up another Reader Mail video for you guys.  I’m pretty sure that Windows Movie Maker is secretly reading my blog, because it didn’t act up even once this time. I guess it doesn’t want to be bashed in the face with a shovel after all. Hehe.

Anywho, hope you like the video.

YouTube Preview Image

Have a great weekend! :)

P.S.
You can subscribe to my YouTube channel by clicking here. Just click on the yellow “subscribe” button at the top once you get there.

P.P.S.
If you haven’t picked up a copy of my eBook yet, you can click here to get it. ;)

P.P.P.S
Flip This Book Club is meeting here on March 8th @ 8pm- hope to see you here!

Flip This Success Story! Eileen Meyer Makes 18k+ on a HUD Flip!

Thursday, February 25, 2010

Hi Everybody!

Sorry I’ve been MIA this week- I went a little overboard with the BDay celebrations on Monday, and ended up spending all day Tuesday sick in bed cursing myself and the 278 bloody marys I drank.  And then I got way behind on everything else, and have been playing catch up yesterday and today, yadda, yadda, yadda….

But ANYWAY, I’m back in the saddle again, and super duper excited to share my very first “Flip This Success Story” interview with you guys!

I know there are quite a few people who read this blog who have doubts as to whether this stuff really works, or maybe you think it works in some cities or towns, but not yours. Or maybe you think you’re too young or too old, or live in too small of a town, or too big of a town with too much competition.  I know how it is, because I used to think the exact same way.

Now that I’ve proven to myself that this stuff really does work, and now that I know a whole bunch of other people who are out there in various markets kicking butt, I thought it would be an awesome idea to start interviewing some of these people so you guys can listen to their success stories, and hopefully get some inspiration and motivation from them…

For my very first call, I was lucky enough to get Eileen Meyer (pronounced like the hot dog) to take some time out of her Saturday to chat with me about her business, and talk about the HUD property that she just flipped for a cool $18,000!  For those who haven’t been following Eileen’s blog- she is a mother of 3, working a full time job, and still manages to find the time to kick some serious butt flipping REOs up there in Wisconsin!!

Please give a warm welcome to Eileen, Everybody……..(*****Applause and Cheers!****)

eileen1 225x300 Flip This Success Story! Eileen Meyer Makes 18k+ on a HUD Flip!

The interview is about an hour long, and you can click here to listen in.

Enjoy!

P.S.
Try not to pay attention to the the minor technical difficulties we had in the beginning of the interview.  I don’t know how to edit audio recordings yet (shocking!), so I had to leave it in there. Also, I have never interviewed anyone before, so if I sound like an idiot, have mercy.  I will get better. :)

P.P.S.
If anyone else would like to share one of their recent wholesale deals with the community, I’d love to get you on the phone for an interview.  Shoot me an email to reosteph @ gmail. com or send me a msg on Facebook so we can set something up!

P.P.P.S.
Thanks for sharing with us, Eileen, and KEEP UP THE GREAT WORK!!! :)

P.P.P.P.S.
I just spent 2 hours and 40 minutes (no joke) trying to figure out how to upload the call to this blog post.  Good times.  Thankfully, Shae was able to help me out before I hit the self-destruct button. Thanks, Shae!

Saturday Night Reader Mail: Which Contracts Do You Use When Wholesaling an REO?

Saturday, February 20, 2010

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.

YouTube Preview Image

Enjoy your weekend Everybody. :)

The Roof, The Roof, The Roof is On Fire.

Tuesday, February 16, 2010

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:

0052 400x266 The Roof, The Roof, The Roof is On Fire.

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….

0071 400x266 The Roof, The Roof, The Roof is On Fire.

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…..”

Saturday Night Reader Mail

Saturday, February 13, 2010

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!

YouTube Preview Image

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. :)