Flip This Wholesaler

7/27/2008

The deal with McHotterson closed Friday. He brought his girlfriend along to the closing. She seriously looks like a walking, talking barbie doll, and I secretly wanted to punch her in the face a little bit. But that's just between you and me. Hehe.

The deal that was supposed to close 5 years ago, is finally (for serious this time), for REAL, going to be ready to close next week. I got the good news right before I got the call from my buyer letting me know that he may not be able to buy it now because he is having a really hard time getting financing on the house he bought from me a month or so ago. He bought it with cash, and is trying to get his cash back out of it, but is having a really hard time doing so..... Hilarious, isn't it?? Now that the idiots at the bank finally have their shit together (a month and a half later), my buyer can't get the cash to buy it. HAHAHAHA. Hilarious!! So......after talking to Steve Cook about it, he advised me (for probably the 100th time), to get my ass out on the streets (I'm paraphrasing here, btw) and find a local lender who I can bring my buyers to. Honestly, he has been telling me to do this for the last six months or so, and I still haven't done it. If any of you guys from Flippinghomes.com are reading this, you know that Nate has been bringing all of his buyers to a few of the local lenders he has built relationships with, and he is doing very, very, well. So, that's my mission for this coming week- find a few small, local banks who I can bring my buyers to. I can't say I'm really looking forward to it, because I know there will be a lot of rejection involved in the process, but I know that it will be well worth my time once I get it done. I guess you could say that I'm in a comfort zone right now, and I need to get out of it and make some adjustments.

Oh yeah- the deal I closed on Friday with McHotterson was listed by one of the agents who I have now closed 4 deals with. I put in an offer on another of his properties on Thursday, and he called me Saturday to tell me that he's pretty sure he can get it pushed through. He also told me that he really likes doing business with me. Hehehehe.. Anyway, I will find out tomorrow if the bank is going to take my offer, and if so, I already have a buyer lined up for it. Good stuff.

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

Well, except this picture of Jim wearing his new hat....



Handsome little devil, isn't he?

2/13/2008

I FINALLY got the signed contract back from the bank yesterday. They just seem to have no sense of urgency whatsoever. Meanwhile, the listing was still on the mls as active, and I was freaking out thinking another offer was going to come in for higher than mine, and I would be screwed. I think I called the listing agent 50 times asking what the hell the hold up was. Seriously. Get your shit together, and get me the damn contract already. Sheesh.

I'm meeting my buyer this afternoon to get a deposit, and to have him sign an addendum adding him on to the contract. For some reason (because they are slow as molasses, probably), the bank wants the closing date on the contract to be March 18th. The listing agent said they will be able to close sooner, though. Not really sure what the deal is with that- I certainly hope it doesn't take them over a month to get the title work done. Wouldn't surprise me, though.

I just got an email today from JP over at Flippinghomes.com about Steve Cook's upcoming bootcamp. If any of you guys are looking for a fantastic opportunity to learn how to wholesale houses, I would highly recommend attending. I went last year to the 5 day event, and am most likely going again this year. Not only is the information top notch (and they don't harass you to buy more courses- AT ALL), but it is also a great networking opportunity. If you can swing it- go. You won't be disappointed.

Well, I'm off to make some more offers....

11/10/07

So, I was over at my friend John's house today making up some handwritten signs, and all of a sudden he says, "Steph! Steph! Hurry, come check this out!" I go over to the window and look out on the patio, and there's a decent sized hawk sitting smack dab in the middle of the patio with a decent sized blue jay in it's talons. It just sat there and looked at us with it's wings outstretched over the blue jay for the longest time. Finally it took off into a nearby tree and did whatever it is that hawks do to dead blue jays before they eat them. All I know is all of a sudden it started raining blue jay feathers. Poor little guy.

I got my signs out. Not 20, but 10. Not only did John come with me to put them out, he actually did the dirty work for me. A good friend, indeed.

Not getting much action on this property which is getting me a teense worried. The only call I got today was from a Carleton Sheets graduate that wanted to know, "Hmm, sounds like a nice place, do you mind me asking you why are you selling it?" Before she could get to the "If I could offer you all cash and close quickly, what's the least amount you could take" line, I just came right out and asked if she was a cash buyer. Not so much. Saved myself at least ten minutes answering questions about fruit trees and the like. Gotta give her credit, though, at least she's getting out there and doing something.

I'm still waiting for my ad to go live on Rehablist. Last time it took them 4 days to get it posted. I usually get a pretty good response from there, so it would be nice if my ad was actually active before my contract runs out.

Oh, before I forget, Steve Cook wrote an excellent article over on the flippinghomes.com blog. Steve has been one of the biggest inspirations to me in my investing endeavors. A rare breed in this business, for sure.