The cash buyer lady called today and made an offer of 88k. Perhaps I will regret this, but I told her I was holding out for a higher offer. I really feel I can get at least 90k, if not better. She told me to call back if I changed my mind, so I still have that option available if all else fails (which it usually does). I have a couple of other investors interested, but nothing concrete as of yet. If I didn't know the area so well, and know what other investors and wholesalers are getting/paying, then I would have taken the offer and been happy. A good wholesaler friend of mine just got a contract for 92k on his property which is just up the street from mine, and his is a dump.
I'm curious to see what sort of response I get from my ad in the Flyer. It has been a couple of years since I've used the paper for any sort of advertising. Hopefully I will get some new cash buyers from it. That's always a bonus.
I'm not sure how I haven't had nervous breakdown #12 considering the state of my finances/bills right now. I guess since I know I have a payday coming at the end of the month? If this deal were to fall through for some reason (like the seller backing out), I'm pretty sure I would off myself. That would surely send me over the edge. Britney Spears- style.
I'm curious to see what sort of response I get from my ad in the Flyer. It has been a couple of years since I've used the paper for any sort of advertising. Hopefully I will get some new cash buyers from it. That's always a bonus.
I'm not sure how I haven't had nervous breakdown #12 considering the state of my finances/bills right now. I guess since I know I have a payday coming at the end of the month? If this deal were to fall through for some reason (like the seller backing out), I'm pretty sure I would off myself. That would surely send me over the edge. Britney Spears- style.
5 comments:
Ah, but isn't it kind of fun living on the edge like this? It makes one feel ALIVE. Heh.
Good luck. It sounds like you've got a good payday on the way.
Yes, living on the edge! Tons of fun! Not sure what I would do without the excess stomach acid, headaches, knotted balls of muscle and most importantly, cash!
Wound up with an unexpected 8K out of some buyers that I didn't think I had a home for. Lo and behold one of those look what I found moments. My nerves will enjoy the month of reprieve this brings! Also allows another month to hammer like hell to find more deals. Anything to avoid the displeasure that goes along with a J-O-B.
Living on the edge.....never thought of it that way. All I know is it SUCKS!!
Nice job on the 8k Jason- hopefully I will be getting close to that from my current deal.
You will. It always happens when you are at wits end, just about to throw in the towel, all the other cliches. Just about the time when you get Sundays paper not for the listings of homes, but for the jobs being advertised!
You know, Steph, have you thought about holding these properties rather than flipping them? The money I got the other day was an option payment. So along with the 8K immediately I will get $200/mo plus another 30K when I can get them their own financing. Probably 2 years or so.
If they need a ton of work you obviously don't want to do it, but it sounds like the 85K house is in decent shape. I read this morning that Tampas rental market is BOOMING! Might help with cash flow as well. Just set it up where they do their own maintenance.
The financing may not be available on this particular house, but it might be on the next. Just keep the Sub2 for yourself. Keep an ad running about RTO 3/2's you will almost always have buyers with some cash. I always seem to have more buyers than houses.
Just an idea. You seem to get rid of them. I need to find more to get rid of. The thing that bothers me about wholesaling, which I do on occasion, is that it seems kind of like a strictly commissioned job. Nothing residual. You know?
Oh well, talk at you later.
Hey Jason,
I appreciate the input/advice.
I am not in the position financially to be buying any properties to hold. I did the whole rental thing (without cash reserves) when I first got started, and I learned my lesson. I spent many a sleepless night praying that the tenants would make that month's payment. It was very stressful. So, for now I'm just going to stick to wholesaling until I build up some ginormous cash reserves.
Steph
Post a Comment