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Tuesday, December 4, 2007

When It Rains It Pours...

12/04/2007

I finally got the Photobucket thing figured out- thanks guys, for helping me out. I appreciate it.

The seller of the deal I was talking about Friday where we were 4k apart on price (she wanted 99k, I needed to get it at 95k), ended up calling yesterday and saying she would take 97k. After going out to the property to meet her for the second time, I got her to accept 94k net. This is a deal that was brought to me by another investor, so we are working it together. We are marketing it for 99k net. Another wholesaler I know may have a buyer, so it will be a 3 way split, which is fine with me.

I don't really know what I'm doing differently now as opposed to what I have been doing all year, but things just seem to be falling into place all of a sudden. It's really kind of bizarre, actually. After spending this entire year struggling to put deals together and survive, it feels really "unreal" for things to be going my way for a change. It's kind of hard to put into words, and I probably just did a really bad job explaining it, but hopefully you get my drift. For those who have been reading this thing from the beginning, I think you understand.

The deal that I assigned to my investor friend is set to close next week, Thursday, I think. No worries about that one closing, as I have done business with him before, and know he is a solid buyer. Gotta love that.

What else? Oh, yeah, I think I mentioned in a prior post that I had news about Costa Rica. The news is, I'm not moving. Not just yet, anyway. There are two major reasons why I'm not going. The first, which is probably quite obvious, is that it would be really foolish of me to just pack it up and leave now that things are starting to pick up a little bit. The other reason is that I have been told by numerous people (including my friend who moved there), that Jaco (where I would be living), is a ginormous party town, and that if you have an addictive personality (which I do), that you might get yourself into a little bit of trouble. I left the bartending biz in order to avoid being in that type of environment (and also because I felt like a complete loser), and, as much as I know I would love living down there, I just don't think it would be a wise choice right now. ¿Comprende? Hehehe, I'm slowly learning Spanish.

I have some other stuff to talk about, but am about to pass out on my keyboard. Long day.

Buenas nachos. (Hehehehe).

6 comments:

DayByDayFlips.com said...

I know what you mean when you say that it feels bizzare that things are falling in to place. You struggle for so long and then all of a sudden things start to work out and it doesn't feel normal! I'm sure that success will be your NEW normal! Nice job!!

DayByDayFlips.com said...

I just clicked on your "Flip This Wholesaler" store... what a great idea for t shirts! That was the first time I saw that!

Christopher said...

Duuuuuude! A CafePress store! What an awesome idea!

And congrats, too. This is why I stop here first every day.

Steph said...

Thanks Guys.

I'm going to be having a contest here, shortly, and giving a T-shirt away, so stay tuned.......

Anonymous said...

Steph-
I don't do much wholesaling (I have always been a retail guy). I just want to confirm the numbers on this last deal to understand better:
Are you assigning it to someone at $99k (thereby making $5k split 3 ways on this deal)?
Because you are assigning it, I assume there are no closing costs beyond the $94k.
Are your investors typically rehabbers or are they holding for rentals?

Steph said...

Hi Scott,

Yes, those numbers are correct. It is under contract for $94k, we are selling it for 99k, and the buyer is responsible for all closing costs.

Not a huge payday, but I only have a few hours into the deal, so I'm happy.

Most of the buyers I have right now are planning on holding the properties as rentals. I have a few rehabbers looking for deals, but not too many.