Flip This Wholesaler

I had a meeting at 10:30 with the mortgage guy. We talked for quite awhile about several different possibilities. I initially asked them to pay me $500 per lead, but am going to renegotiate this once we do a few deals together.

When I got home from the meeting, my day took an unexpected turn. I found a stray dog in the woods behind my house. He was in very bad shape. I ended up staying with him for a few hours until I was able to help him walk back to my house (he's about 60 lbs and I couldn't carry him). I think he got lost and was dehydrated and starving. Anyway, I spent the day hanging out with him, calling the animal shelters, and driving the neighborhood. He is sound asleep right now, and doing much better. I am secretly hoping I can keep him, but will do everything I can to get him back home. I named him "Chance."

I got a few good leads today. One I sent to my short sale guy, the other I may be putting a contract on tomorrow. I talked to this seller a few months ago, and actually wrote about it in my blog. He is the one who hung up on me when I made my offer. Appraisal is $145k, comps are around $140k. Needs landscaping and a garage door. It is rent ready, but the rehab job isn't the greatest. I can get it for $83k. I sent out a few emails to the buyers I have worked with before to get their input. I'm a little hesitant to sign this deal for a few reasons- it is in an area where mortgage fraud is running rampant, so it is hard to know if the comps are real or inflated,, also it is a 2/1 frame which a lot of my buyers don't want. I still think the numbers are good, but am going to wait and see what my buyers say. I will at least get an option on it if all else fails.

The owner of the mortgage company I'm finding deals for called me tonight to tell me that one of his clients wants to buy the duplex I told him about. He wants me to negotiate the terms with the seller. I will get $500 if this goes through. Not a lot, but I only have about 20 minutes into the deal, so I can't complain.

I am going to sit down with my realtor and go over the agreement my greedy partner and I have regarding the townhouse I am living in. The realtor is a close personal friend of my greedy partner's husband. I know that there is no way any person with any sort of common sense would side with her. I have a great relationship with the realtor also, so maybe once he hears the facts he can talk some sense into her greedy little head.