Flip This Wholesaler

Well, I picked up my 2k check from my first flip this last Friday. I still can't believe how easy the whole process was from beginning to end. I guess after doing a nightmare rehab, anything seems easy. Also, I think the fact that the guy I flipped the contract to was an experienced investor helped out tremendously. The closing took place at the title company he uses. They are investor friendly, and everything went smoothly. I will be using them for my next deal.

I am meeting for lunch with my realtor tomorrow. I want to go into more detail with him about what my investing strategy is. I am also putting in an offer on one of his listings. I actually met him about a month ago while I was looking at this particular property. He called me today letting me know the seller had just reduced the price again and is very motivated. The list price now is 229k OBO. Comps around 260k. Doesn't need any repairs. Going to offer 177k.

I have been getting a great response from the postcards I have been sending out. They are the same cards I have been sending out for the last few years, but I have never had such a good response. I'm sure it has to do with the slow market here. Most of the calls are from people still living in la-la land thinking they are going to get the price they were asking 6 months ago.

My goal is to have another house under contract to flip by this time next month. It would also be nice to get a contract on the townhouse I'm living in that I rehabbed, but I'm not holding my breath