Flip This Wholesaler

Since my last post, I managed to get another property under contract (still can't believe it), and now have a buyer. The lead came from a realtor that I made an offer through about a month ago. The buyer is the guy who I assigned my first wholesale deal to sometime in September. I got a lot of action on the property once I started to advertise it, which has cemented the fact in my head that if you get a good deal under contract, it is not hard to find a buyer. As with the last two deals, while I was frantically searching for a buyer, I was able to add some more investors to my buyers list.

I didn't really get to do much advertising over the weekend because I had to work (only 4 weekends left, then my bartending career is coming to an end)!! Also, I was trying to tie things up with this latest deal.

I got an email today from an investor in California (he got my email from a postcard I sent). He has a lead in a nearby city, and wanted to see if I would help him find a buyer for him (we'll split the assignment). The seller's wife just passed away, and he wants out. He's willing to sell subject-to for what he owes. His mortg. balance is around 170k (haven't verified), and house was just appraised @ 225k (haven't checked comps yet, either). Needs some minor repairs. It isn't a great deal, but I'm having him make up a flier for me to bring to the investor meeting tomorrow night. I figure I might as well try.

Since I already accomplished my goal for the month (getting another house under contract), I'm now going to shoot for getting another. Now that I know this can be done, I am going to go all out. I've spent way too much time screwing around, and now I just want to work my butt off and see what I can do. It's going to be a real struggle to get through this month as far as bills go. Both deals I have aren't closing until the end of the month/beginning of next month. I've somehow made it this far though, and I will figure something out.