Flip This Wholesaler

7/13/2008

Sorry for being a bad blogger. I've been doing some rethinking of my plans/goals over the last few days, and also getting some things taken care of that I've been procrastinating doing for too long. You know how that goes.

Anyway, I've got all kinds of stuff to talk about......

Let's see..... the deal that was supposed to close Monday, and then Wednesday, is not closing until tomorrow (supposedly), because the idiot mortgage joker, I mean broker, is a moron. First he "misplaced" the inspection report that was done two weeks ago and didn't "find" it again until Monday (my guess is it was sitting underneath an empty bag of Fritos in the backseat of his SUV), then he tells all of us Tuesday evening that everything is good to go and we are closing Weds. at 2pm. I ended up getting a call from the girl at the title co at around noon Wednesday telling me that the hard money lender is not ready to fund the deal yet. It's a long, more involved story that I don't feel like rehashing right now, but I will say that I once again learned another valuable lesson on this deal, so, the way I look at it, it was worth the hassle because now I am that much wiser. How's that for a positive attitude?.

The other deal that was supposed to close Friday...closed Friday......so, that's good news.

Oh, I FINALLY got a closing date for the deal that was supposed to close last month (the pink house) where they sold the property off to another lender (or something like that- I still am not exactly sure of what transpired) at the last minute. That one is closing the 25th of this month (again, supposedly), and I am making an extra grand on it because my wholesaler friend who has it under contract told the bank that he wanted it cheaper because values are dropping by the month- so, they gave him the discount. He is 2 for 2 with this little trick, so keep that in mind in case it happens to you.

The deal I just got under contract that I am selling to my new buyer that I found last month is scheduled to close on the 24th. This is the first Fannie Mae property I've wholesaled, and I guess I missed the memo about them letting the buyer pick the title company (and also "letting" the buyer pay all closing costs- oops). I can't tell you how nice it will be to actually be in control of the closing for once and not have to depend on some random title company in Ft. Lauderdale that I can never get a hold of, and that could care less whether my deal closes on time or 1 month from on time.

I have a few other stories to tell- like how the new buyer I found last month who I met at Starbucks Friday for the first time is seriously, by far, the most handsome man that I have ever seen in my entire life (I hope Roger is not reading this), and also how I won lunch for 15 people at the Thai restaurant behind Skypoint....but, this post is getting long, and it's getting late, so I will save it for another day.

I'll leave you with some pics I took today when Jim and I went to Davis Island. There was a dolphin frolicking in the water not far from shore, which made my day. I think Jim had a good time, too...


Jim. 1 second before taking off after a squirrel.


Yes, that's a cruise ship in the background- if you click on
it you can see better.


God, I love that dog.