5/31/2008
Holy crap, how is it June Eve already?
The guy with the supposed buyers from NY is turning out to be a big fat waste of my time. He was supposed to send me over a signed contract for one of the properties I am marketing, and he disappeared for a day, then called to say he changed his mind. I'm done chasing this guy around.
One of the REOs I thought I was gonna get was bid up by another wholesaler, so that is dead (for now,anyway) and the other I am STILL waiting to hear back from the listing agent about. He says the bank is totally swamped and can't keep up with everything, which doesn't surprise me, but I'm starting to get pissed, and my buyer is getting antsy.
I got a call from a lady who I gave a short sale lead to back in November. She finally got the deal closed, which translates into a check for me. Not bad for about 5 minutes worth of work.
I've been on an offer-making frenzy over the last couple of days, so I should be getting something here shortly. I've been sticking to my quality vs. quantity approach, and, like I expected, it is going to take me making a lot more offers to get the spreads I am seeking (10k+ per deal is my goal, and my best to date is 8k), but I'm sticking to my guns. Also, I'm sick of hearing people tell me it's not possible to make big spreads on REO deals (even though I personally know people who are doing it on a consistent basis), and I just LOVE it when someone tells me I can't do something. So, that's a big part of my motivation as well.
Have a great rest of the weekend!
P.S.
I put a link up on my sidebar to banditsigns.com. If you're looking for cheap signs, they've got "Avoid Foreclosure" signs on sale for 99 cents each right now. Look under "Current Specials" :)
Saturday, May 31, 2008
Untitled #497
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4 comments:
Great Blog. Hopefully you get an offer accepted soon. Do you track how many offers you write? Do you mind sharing how many offers have you sent out recently? Good Luck!
Sounds like the guy with the NY buyers was talking a big story. It sounded like it from the start, but there was still a chance he wasn't jerking you around. So, you did the right thing testing him out!
Andrew, yes, I track everything in a spreadsheet. I try to make 5 offers a day, but slack off sometimes. I made ten on Friday and 5 yesterday. A lot of them are houses I have already offered on, so I just resubmit..
hello Steph,
Just ran into your blog page and I love it!! I'm glad that I read your page because I hear so much that REO's can't be reassigned because of the contingencies but yet it seems like your doing it. So these banks allow you to add an assignability clause? Great blog thank you!!
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