Flip This Wholesaler

Well, yesterday was a pretty bad day. For some reason it seems like every time I start to get a little bit of momentum going, the bottom falls out, and then I have to start all over again. I guess I should be used to it by now, but I'm not. I've said a million times that I will keep on moving forward no matter what, and I will, but it is very hard for me to not wonder how long I am going to have to struggle. For me it isn't a question of whether I will succeed or not, because I am absolutely certain that I will, it is a question of how long I will have to keep fighting an uphill battle. It has been pointed out to me by several people that I will look back on this one day and be thankful for it. I don't doubt that a bit, but still it is hard to appreciate a struggle when you are right smack in the middle of it.

Anyway, I didn't get too much done yesterday except a lot of thinking.

I have been talking a lot with one of the wholesalers who I've done a few deals with. He's the one who went and looked at the 2 properties w me a couple of days ago. I am very thankful to have him helping me out. He has given me a really good guideline for what numbers I need to be buying at in certain areas. I would have screwed up many times up to this point if I didn't have him to help me out.

I have 4 offers to make today. I want to send this one guy a thank you card for haphazardly tying up properties and then backing out. He is leaving behind some pretty motivated sellers. I have been on this guy's buyers list for about 6 months now, and I kept wondering how he was getting so many deals. He usually sends out at least 2 new deals each week. I have recently discovered that his investing "strategy" is as follows: (1) Find any property on the mls that needs work. (2) Put property under contract for full list price or very near list price. (3) Jack up the ARV by however much is needed to make it look like a deal (4) Underestimate the repair costs (5) Send out an email (IN ALL CAPS!) with the info on this new "deal" at LEAST 10 times per week (usually more) to everyone in the Tampa Bay area until 1 of 2 things happen- either (1) the greater fool theory works, and some unsuspecting newbie buys it, or (2) it falls out of contract. This is where I come in with my offer.

I have been tracking all of my offers in an excel spreadsheet up to this point. Tomorrow I am going to transfer it all into ACT. Hopefully it won't take too long, but my track record with anything computer-related isn't too good.