1/3/2009
I got a counter offer today.
On a Saturday.
This is shocking.
I've never gotten a counter offer on a weekend before. Ever. I didn't even know that REO agents and banks worked on the weekends. It's hard enough getting an answer out of them on a weekday, let alone on a weekend. Again, I'm SHOCKED.
It's especially shocking because I've been offering on this stupid house for the last six months. The listing just expired with the (worthless) agent who's had it the whole time it's been on the market, and it was just relisted a few days ago with another guy. I've come to the conclusion over the last year of making offers, that the agent who had this house originally, does not like to make money. Either that or she is just stupid and lazy. Or, maybe all three. I've probably made over 100 offers on her listings since last summer, and I have NEVER, EVER, received a single response. I'm not kidding. And, these are not all low-ball offers, either.... For example, this house that I got a counter offer on today...I made an offer on it 2 weeks ago when she still had the listing.. I offered 8k below list, with a closing in 1 week (or maybe 10 days, I can't remember), all cash, no contingencies. And I got no response. Nothing. Crickets. So, I finally called her up a few days later and asked her if she got a counter from the bank, and also told her (in so many words), that I was willing to come up a little if they were willing to come down a little. So, she tells me she will call me right back, and then I never hear from her again. This was on a Friday afternoon that I called her, and so I waited until Monday afternoon, and when I still hadn't heard from her, I called again (twice), and left 2 messages, and then I sent 2 emails. No response. More crickets. This is unacceptable to me. Seriously. WE ARE 8K APART AND THIS HOUSE HAS BEEN LISTED FOR 6 MONTHS! WORK WITH ME HERE, YOU LAZY PIECE OF WORTHLESS REO AGENT.. Geeze...
Anyway, so the property came back on the market a few days ago, I made an offer on it yesterday, and I got a response back today. That's more like it.
I'm pretty sure California Guy will take it, but he's kind of been pissing me off lately and not giving me any feedback on the houses I send him. Maybe he wants to go find the deals on his own?? Have at it, Buddy. Look out for me and my cohorts, though, cause we'll probably beat you to the punch every single time. Hehe. Just kidding.. Not really.
10-4. Over and out.
Saturday, January 3, 2009
First Deal of '09? Maybe.
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11 comments:
8K apart on a property listed for 6 months...and no response. That's CRAZY! Listing agent must have been in denial and wanted to get every single penny...of course as it gets closer to expiration you'd think they would take what they could get! Oh well. Her loss will be the new agents gain.
Isn't that crazy?
I really think this lady tries to make as little money as she can. It baffles me.
Thats ridiculous!! Got a couple questions I have been trying to decide which course to get & from what it seems like Steves looks like its the real deal, however I live in Santa Barbara, CA & was wondering can you really wholesale anywhere because the average home over here is about $300,000(please tell me it can work anywhere as long as you apply yourself)
As long as there are people buying houses, then wholesaling will work. Your job is to find out what prices they are buying at, and then come in lower and bring them a good deal.
Try posting your question over at Flippinghomes.com- I'm pretty sure Steve mentioned that he has a few students in CA.
Anything is possible if you set your mind to it.
Good luck, and happy New Year!
Anonymous, I'm in SLO county and just met with another wholesaler who works No. SB County (Lompoc-SM). He's working REO's hot & heavy.
We're out here, just gotta get moving & make LOTS of offers.
btw, get a handle.
Nice to see you're off to a good start Steph! Keep rockin!
Cheers,
Taylor
Steph,
Did you have a mentor when you started? I have solicted some people in my area and they all wnat to charge me. I didnt expect it for free, but I thought at least someone would have wanted to work out a deal where we split the profits of some deal I can bring in or something. Im thinking I might just try to do it by myself(wholesaling)
Anonymous,
I did not have a mentor when I did my first few deals. I learned most of what I know from reading and posting on Steve Cook's website- Flippinghomes.com. There is enough info there to get you started.
I am currently part of a mentoring/mastermind group (the Flip Vips), and Steve Cook is my coach. It is not cheap, but it is worth every penny.
Most people are going to want to be compensated for their time- especially if they are teaching you from scratch. Even if you offer to split your first few deals with them- what happens if you never do a deal? I'm not saying you won't find someone who will take you by the hand and not ask for compensation- I'm just saying that most seasoned investors who have already paid their dues, are going to want some skin in the game from you.
Hope that helps,
Steph
Steph,
Thanks for the reply. Im familiar with Steves site- thats how I found your blog :-) I have learned a great amount from the forums, books, and the few courses I have bought. I think Im just going to do this by myself. I know it wont be easy, especially here in the Southern California market.
Here is to a great 2009!
Steph,
Good luck to you in 2009! I wish you lots of success. I love reading your blog and as a wannabe wholesaler, your tips help a lot.
All the best,
Steph (not from Tampa)
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