Flip This Wholesaler

11/07/2007

So, after I posted yesterday, I hopped in my car and headed over to the property I got the counter(s) on to get a bunch of pictures. I was busy running numbers in my head on the way there, and missed my exit by about 3 miles or so, which wouldn't be that bad if it weren't the beginning of rush hour traffic. By the time I finally got there, I felt like passing out, because the cold medication I took was finally starting to kick in (it was the knock-you-on-your-ass kind that makes you sleep for 12 or so hours).

Anyway, I got all of my pictures, locked the place up (it is on a combo lockbox), and got in my car. I figured, since it was still light out, and traffic was going to suck anyway, that I would drive by the comps again just to make sure I wasn't missing something. Then I realized that the sheet with all of the property information on it was not in my car. Shit, I left it inside. And I can't remember the lockbox code. No worries, I will just call the realtor and ask him. Wait, where's my phone?? SHIT!! I left that inside the house, too. Now what? I tried to remember the lockbox code, and tried a bunch of different combinations- jmb, jmy, jry (I knew it started with a j). None of them worked. Luckily the realtor sign was in the front yard with his office number (no cell number) on it. So, I drove up to the gas station and used the pay phone. Voice mail. SHIT. I could call any one of my realtor friends and ask them to look the guy's number up on mls, but I don't have any of their numbers memorized. Son of a nutcracker. So........I ended up driving ALL THE WAY BACK HOME, sick as a dog that is sick, sweating, and ready to pass out. In rush hour traffic. Finally, I got home, got the realtor's cell # from the listing, called him and got the combo. R-M-B. I knew it started with a "j." Then I got to drive all the way to and fro (again) to go fetch my BlackBerry. I can turn a one hour trip into a 3-4 hour fiasco like no one else.

OK, back to the deal......

As it stands, their last counter was $132k, and now the ball is in my court. My feeling is that I need to sell this for under $130k to make it go fast. My last counter was for $123k, so I'm thinking I will counter $125k as my highest and best. I have another hour or so to think it over. I'm OK even making as little as 2k on this deal. I just want to keep the momentum going.

Oh, also, I ran the owner's names on the county clerk's website last night, and out popped about 12-15 judgements and liens. Some of them have been satisfied, and some of them are around 30 years old, so I'm not sure if this is going to effect the seller's ability to close at the agreed upon price. As usual, I got some great advice about this situation over at my home away from home . I'd be lost without that place.

So, that's it for now. Hopefully I'll have good news to post about later in the day.