Flip This Wholesaler

What a crazy day it's been. I was so stressed out and had so much going on at one point today that I really thought I was going to lose it (not the first for me). I faxed the remaining offers out that I didn't get to yesterday, and then my phone started ringing. I got 3 counter offers from the offers I sent yesterday. 1 looks pretty good, the other 2, not so much. One of the counters was 40k below asking price. I was pretty impressed. I went to look at this one, and realized that I had been a bit overzealous with my ARV. Kind of scary, because I do not want to be buying properties because I offered too much. Next batch of offers I am using 55% ARV- repairs instead of 60%. That should keep me safe.

I went to look at the property that the seller owns free and clear. It is uninhabitable and basically a glorified shack. Actually, no, it's just a shack. He also is selling an adjacent buildable lot right next door, and one up the street. One of my investor buddies buys properties in the this area (it's all good in the hood, as he says), so I called him and asked him what to offer. He said 45k for all 3, and he will split the profits with me once he sells it. I don't think the seller will go for it, but who knows.

I also went to look at another house that I heard about last night at our investor meeting. Another friend who was also at the meeting is working on it, so we're trying to do something with it together. The numbers look good (ARV 200k, will take 140k), but it is in a wierd location (across from a mobile home park), and has a weird layout. Not sure if I want to touch it.

I guess making 23 offers 2 days before I'm going out of town wasn't such a good idea. I just wanted to get as much done as possible before I left, but now realize that I should have waited until I got back.

I got a few pretty good leads in from my marketing today, but was so busy I haven't had time to even think about them. I still have to pack (waited til the last minute again), and get a whole bunch of other stuff done before I leave. I guess I better get going because my flight leaves bright and early!!