Flip This Wholesaler

3/10/2008

Man, I've had quite a day.

First of all, remember the free money I told you about back in January? Well, I called this morning to see what the status of my claim was (it's supposed to take up to 90 days), and the lady told me they just sent a check out to me on Friday for 1300 and some odd dollars!! S-W-E-E-T.

Next, I checked my email, and lo and behold, there was the HUD and the closing documents that I've been waiting for so I can get this REO deal closed. I guess they aren't even sending a notary/closer out this time- we just have to sign all the docs, FedEx them back, and wire the money to the title co. Sounds good to me. I called my buyer, and we are meeting at Starbucks tomorrow to get everything signed, and so I can GET PAID!!

Then, I get a call from the listing agent of one of the properties I made an offer on over the weekend, telling me that the seller is countering @ 60k! The house was listed for $76,000 (worth about $120k-ish), and my offer was 50k. Niiiiiice. This is another property that was listed as a 2/1, but really is a 3/1. Hehe. It really isn't in that bad of shape at all. Needs some cosmetic updating, paint, and carpet, but overall, not bad. Only problem is, the interstate is right behind it, but it has a decent amount of space in between, and it's on a not-that-bad street. So, anyway, after I went and looked at the property and checked the neighborhood out (it's kinda in the hood), I called one of the investors/wholesalers I met while calling "for rent" signs on my last hood excursion. I've never met this guy in person, but we've talked on the phone 20 or 30 times since my initial call, talking about deals and such and trying to make some money together. Anyway, I called to get his input on this property, and, as I'm halfway through describing the house, he interrupts me and says, "It isn't the one on 123 Main St. is it?" Yes, it certainly is. I'll be damned if he didn't just submit an offer on the property that morning for a little less than what I did, AND, he thinks he already has a buyer. We talked about it for a minute, and decided to just work the deal together. So, he called the realtor back and offered 49k, and I called back and offered 51k. Long story short, I got the property for $53,500. He (the hood investor) calls me back half an hour later and tells me this other wholesaler and another investor will take it for $58,500. My plan was to market it for $59,000, so this is perfect. I tell him I'll write up the assignment agreement (this isn't a bank deal, so I can assign it), and ask him what name they want on the agreement...... Wanna take a stab at who the investor is that wants to buy the house???? That's right- Slim frickin Shady. HAHAHAHAHAHAHAHA. Up until this point, Slim had no idea that I was the one with the contract, and I had no idea that he was the investor who wanted to buy it. So, I tell my hood investor the whole story, and he tells the other wholesaler that I won't do business with his buddy because he is a SHADY BASTARD. So, we hang up, I go eat dinner and chuckle to myself about the almost-instant karma that just transpired, and then my phone rings. It's my hood investor calling to tell me that he just got off of a 3-way phone call with Slim Shady and the other wholesaler. Slim swears up and down to both of them that he has never met a Stephani, and has no idea who I am or what I'm talking about (I met him 2 weeks ago at the title company when I picked up his 2k deposit check, and sat in the lobby talking with him for a half hour or so). He also claims that he never put a deposit down on that deal (I have a copy of the check, still), AND -this is my FAVORITE PART.....He says that the reason he didn't buy that deal was because the bank backed out at the last minute!!!!! HAHAHAHAHAHA!! What a sorry-ass, lying, piece of shit!!

It's bad enough that this asshole backs out of a deal the morning of closing, but then, he can't even own up to it, and tries to make me out to be a liar. Bastard. He already has a horrible reputation around town, and I can promise you that I will continue to smear his name to every single investor that I talk to from now until the day I die. I can be a spiteful little bitch when I want to.

So, anyway, that was my day.... Got another deal, got one closing tomorrow, and got some free cashola coming in the mail.

I'm pleased as punch.