Flip This Wholesaler

I got 2 really good counters today- good enough to go take a closer look tomorrow. One is an REO, the other an estate sale. Both need a lot of work, so I'm meeting my friend tomorrow morning to look at them and help me estimate the repairs.

I got a call today from the mortgage guy (remember him?) that I was working with a few months ago. We kind of lost touch, and he called today to see how I was and to run some stuff by me. In a nutshell, he has buyers who are looking for deals in the higher price ranges (like up to a million). I don't really understand how the whole thing works, all I know is that I can make some serious cashola if I bring him some high end deals. There are still some details to work out, but he's pretty creative, so I'm sure we will figure it out. I would really like to be able to bring my buyers to him for some of my deals, but am not sure if seasoning will be an issue. We talked about it for awhile, and he is going to get back to me. I really like working with him- he is a straight shooter, and gets the job done. No bs- unlike every other mortgage broker I've worked with.

I made 6 offers today. My intent was to make 10, but I got those 2 counters in, and was busy doing my homework on them.

One of the properties I'm going to look at tomorrow is the one where another wholesaler had it tied up and then bailed on the contract. I talked to the listing agent who told me how unprofessional this guy is, and how he keeps coming up with excuses to extend the contract. I can see why many realtors have a dislike for investors. I know of at least 3 properties that came back on the market this week all of which were under contract by the same guy. He had them all tied up for over a month.

I forgot to mention yesterday that I got beat out on a SWEET deal by another investor. This is one of the first mls properties I offered on about a month ago- the one where the realtor called and left me a nasty message. Anyway, I submitted my second offer Sunday eve, and the listing agent called me Monday morning and told me they got a contract on it over the weekend. She told me it looks like a pretty strong contract, but she will keep mine for a back-up. Who knows, maybe the other buyer will flake and I'll get it. Hope so.