Flip This Wholesaler

Not a very productive weekend. I helped my little brother move all day yesterday. I didn't get to bed til late and didn't do a whole lot today.

I got a call from a sign today. Strange since I haven't put any out in a looong time. The lady says it's worth 200 and she owes 140. She just wants the mortgage covered. I'm not too excited about it, because it's in my farm area, which I am getting to know very well, and I haven't seen a house yet that's going for 200k. I'll look into it more tomorrow. Maybe a sub2 will work.

I'll be checking out a bunch of REOs tomorrow and making some offers. My offer method this time around is much more organized. I have an info sheet on each property with all pertinent info- list date, list price, reductions, agent info, repairs needed, ARV, offer amount, etc. I put this together along with the RealQuest comp info, then put it in a binder with the most recent offers in the back. I will follow up on all of these every couple of weeks until they sell. My approach last time was just one big unorganized mess. Also, before, I was just making blind offers w out going to look at the properties. It takes a lot more time, but I really need to get out and look at each property, check the neighborhoods out, etc. If I want to do this right, I can't be taking shortcuts. It just doesn't work that way. Not for me, anyway.