Flip This Wholesaler

Today was a great day. I made 6 offers on listed properties. I think half were REOs. One of the agents that I met last week called to tell me the bank countered my offer. They only came down 10 grand, but I was just happy to get a counter. I told the agent I could not go up any further, and he said no problem, he would tell the bank. Truth be told, I have actually been scared to death that this offer was going to get accepted, because I think I offered a little too high. Actually, I know I offered too high. The problem is (or was), I am trying to establish credibility w a few of these agents, and I do not want to piss them off by making ridiculous offers. But I would rather make low offers than be stuck with a property that I can't wholesale because I offered too much. It's a catch 22. From here on out, I'm only making LOW, LOW offers. It also makes it a whole lot easier to put offers together when you aren't agonizing over every comp, every repair, etc. Just make the offer so low that it doesn't matter. I thought I had this down before, but I was still offering WAY too much.

I had one realtor call today and yell at me after getting my offer that was, "like not even 40% of the list price." It was listed for almost a year, vacant, and needs a lot of work. Bring it on lady.

Tomorrow I'll be making more offers. Have some letters to send out that I've fallen behind on as well.