Flip This Wholesaler

10/5/2008

Well, they say that when it rains, it pours, and I gotta tell ya, there's a friggin' monsoon following me around lately. I can't really come up with an explanation of why everything is going wrong all at once right now. I don't remember breaking any mirrors lately or anything like that. Perhaps it happened while I was sleepwalking? Maybe, while I was sleepwalking, I broke a mirror after seeing a black cat run in front of me while I was opening an umbrella indoors and walking under a ladder with it. That makes sense.

Anyway, no new news on the "Stacy" deal. Well, except that the buyer's private money guy said he will only wait 2 more weeks and then he is pulling the plug. So, there's that extra bit of added stress to deal with, which is AWESOME. I sent in an addendum on Friday requesting that they lower the purchase price from 50k to 45k. I haven't heard back yet from the listing agent as to whether or not they are going to sign it, but I figured it was worth a shot. Of course we have to actually get clear title before any of that would even matter anyway, and I don't see that happening anytime in the near future, so, oh well.

I got an offer accepted Friday (yay!), and the numbers were really, really, good. This got me to thinking that perhaps I missed something when I went to check the house out. So, yesterday, after I almost ran out of gas in the hood, and then went to get money at an ATM machine at the gas station, and the machine ate my money and wouldn't give it back (seriously) ..... after that, I decided to drive on over to my new "deal" just to check it out again, because something was telling me that this deal was just too good to be sitting on the market at this price for more than a day or two. So I get there and check out the inside, and then go out back, and see this for the first time:



Yaaay- a sinkhole!! Woohoo!

I suppose I could look on the bright side of this, which is that I was about to blanket the area with 30 or so handwritten signs, and that would have sucked. Also, sending investors to a house without telling them it may or may not be swallowed into the Earth by the time they get there, would make me look like a complete ass. How do you like that for positive thinking?

Oh, I also got a counter on Friday on a house listed for 52k, I offered 30k, and they came back at 36k. This could be good, but the house is in pretty bad shape, so I'm not sure what I'm going to do. I'm going to bring my friend Dave by there later today to get his opinion on it. I think I probably need to get it in the low 30's (if you can believe that- it's a 4/2 concrete block home), but I'm not sure. I need a second opinion. I've closed several deals with this listing agent, and he seems to put in a good word for me to the asset managers, because I always get really good counters on his properties.......so, I want to be extra sure I can get this deal closed before I put it under contract.

And, that's all I've got, folks.

Let's hope this week brings some good news.