Flip This Wholesaler

I went to another investor meeting tonight, and made some more great contacts. I found 5 new buyers, and passed my business cards out to everyone. I used to have a phobia about speaking in front of a group of people, but that fear is pretty much gone. It really is amazing how your fear goes away once you confront it. As hard as it is, it really feels good afterwards when you make yourself do something you don't want to do.

The guy who was running the meeting tonight is in negotiations with a seller who is trying to get rid of 10 fully rented duplexes, and thinks he will be able to get a really good price on them (the seller is motivated). He is looking for a buyer to wholesale this to, and I think I may have one. This could translate into a very nice referral fee if everything comes together. There are a lot of "ifs" in the equation, but you just never know. I know I said this in my last post, but these meetings are an absolute goldmine. If you are willing to hustle a little bit, there are endless deals to be made just from networking at these meeetings.

I may start working short sales with one of the investors I have become good friends with. He has about 15 going right now, has done a lot of them in the past, and really has a good system down. We are meeting tomorrow morning to talk it over. You pretty much can't walk out of your door without having a short sale lead fall from the sky and hit you in the face. Two of the leads I got today turned out to be short sale candidates. I might be better off just passing the leads along and getttng a smaller percentage of the profits. I'll have to weigh out the pros and cons tomorrow.

I received the funniest cal today from a seller who saw one of my signs. I think I have said this before, but I really need to start recording my calls. Anyway, the guy had a 1/1 condo he was looking to "get rid of." I asked him what the place was worth, and he said $121k. I asked him what he wanted for it, and he said he was willing to take $120k- give or take a little. WOW. So, I ran over, signed it up for $120k, and am trying to wholesale it for $120,500. Man, I just love it when deals like these fall into your lap.