Flip This Wholesaler

I was bad over the weekend, and didn't get as much done as I should have.

I made up for it today, though, and submitted 7 offers on mls properties.

I put an offer in on an REO last week that I was not really sure of the ARV, so I offered 35k to be safe. I think it was listed for around 65-70k. I didn't figure I would get a counter, but I got one today for 50k. Getting close. I went back and looked at it, and am going to counter tomorrow at 40k. Actually, I'm going to call a couple investors up that work the area and ask them what they think first. It's really hard to tell what the ARV is in this area because the comps are all over the place, most of them over-inflated bogus comps that are the result of people doing cash-out deals. It's a mess. Nothing like good old fashioned mortgage fraud to liven up the party.

When I get my first wholesale deal from the mls completed, I am going to carry around the HUD in my back pocket so when the next person tells me you can't get deals from the mls I can whip out the proof and cram it down their throat. He he he.