Flip This Wholesaler

5/20/09

I forgot to write this in my last post.... one of the deals with DB closed on Friday. The other one is supposed to close tomorrow, but Deutsche bank is too busy to sign the deed package, so we have to get ANOTHER extension until the 28th. This will be extension #2. The first time we had to extend it because Watson Title didn't have the lien search done yet (because they suck), and now that they have everything ready to go, the bank is too busy to sign off on the paperwork.

This makes no sense to me at all. Why in the hell do they need an extra week just to sign paperwork? And how is it that they have time to sign another extension, but they don't have time to sign the deed package? Inquiring minds want to know.

You might not think waiting another week is that big of a deal, but there's a lot that can happen in one week..... Deutsche could get bought out by another bank the day before closing (this actually happened once), Obama could come up with some nifty new legislation banning investors from buying REOs because we are all evil capitalists, DB could get thrown in jail for cocaine possession, the house could burn down, etc, etc.

You just never know what's going to happen, ya know?

Later alligators- gotta go make some offers...

P.S.
Someone found my blog yesterday by googling "Watson Title Sucks." Hehe.

P.P.S.
To all of Steve Cook's coaching students- don't forget to sign up for the REI 2009 Bootcamp that he is doing with Shaun McCloskey- we get to go for free! There are 2 locations and dates- I think I'm going to go to the one in St. Louis. Hope to see all of you there. :)

5/14/2009

Well, it looks like one of the deals with DB (the one where I'm making the most money), is going to close later today, or first thing in the morning. We are just waiting on a final HUD from the bank's title company. They screwed up the commission on the first HUD, so now we have to wait for them to fix it. Normally this would only take an hour or so, but we're dealing with Watson Title here, so you know how that goes. If they don't have it done by the end of the day, they will be hearing from me bright and early tomorrow..

The lien search finally came back on the other DB deal, and it looks like that one is going to close Monday or Tuesday. DB already has a contractor lined up for this property (I know this because the contractor also does work for a rehabber friend of mine, and he told him he was going to be doing the rehab on this house). So that's good.

I may be getting another JV deal signed up with Lee today. Hopefully. I'm still negotiating with my buyer (McHotterson), but I'm pretty sure he is going to take it. I'm just waiting on his call...

I also found a new buyer today (he called on one of my signs) who is looking to park his cash into some cheap rentals, so I'm going to be meeting with him this weekend to get a better idea of what he's looking for.

So, anywho, things are going pretty well over here...

Gotta run. Later alligators!

P.S.
Happy Birthday Brett!

P.P.S
In case you missed the REO Rockstar webinar last night (or in case you couldn't hear what was being said because of all of the background noise on the line), Lee is doing another one tonight @ 9pm).

4/27/2009

Hope everyone had a great weekend.......I spent most of mine working. I put out 30 signs yesterday so my phone should be ringing off the hook this week. I also managed to smash my thumb with a hammer while I was nailing a sign to a fence, which felt really good.

Take a look at my handiwork...



My friend already closed on this house, so I thought I would take advantage of the free advertising space and throw a sign up in the yard. I put this sign up around 3pm yesterday, and already have received 6 calls. The house sits on a corner lot right by a busy intersection, so it will get lots of exposure.

2 of my deals ended up closing late Friday, and I've got 2 that are supposed to close this week- one tomorrow, and one Friday. Watson title is handling the one that's supposed to close Friday, and you all should know by now what that means: Ain't gonna happen. I'm actually working on getting some "Watson Title Sucks" T-shirts made up. Because they suck so very badly...

Oh, I also finished up the goals I set for myself last Monday (finished the outline, and found 2 new buyers). I didn't get them accomplished by Friday like I had planned, but had them done by the end of the weekend, which is good enough for me. Reading through the comments, it looks like about half of us accomplished what we set out to do, and the other half did not.

This week, my goal is to get at least one more deal locked up, and to get the FAQ section written for my new website. I think the Friday deadline comes a little too fast, so how about I give us all a full week to accomplish our goals?

So..... let's hear your goals for this week. If you slacked off last week, now is your chance to redeem yourself...

2/12/2009

Been a busy week so far.

The duplex deal with Murphy closed yesterday, so our curse has officially been lifted! It's about time.

I've been making a lot of offers lately, and have been getting counters back almost every day, which has been keeping me busy.

The deal that I'm losing money on is closing tomorrow. Watson Title has been a slow piece of inefficient garbage on every other deal that I have ever worked on with them, and of course, the one time when I could benefit from their suck-assery, they end up being Johnny on the Spot and have everything ready to go on time. Sons of bitches.. I'll be losing about $800 on this deal, and although it SUCKS to lose my hard earned money, I'm kind of glad this happened, because I learned a lesson.... my deals need to have way more wiggle room in them, and so , I have been making my offers a lot lower. I'm talking, ridiculously, embarrassingly, low. I don't expect many of them to get accepted, but all I need is one/month, (as opposed to 3 or 4 smaller deals), and with the amount of offers I'm making, this is a very attainable goal.

I've been kicking some serious ass in the gym lately. I can almost see a six pack again. Woohoo! Working out is kind of like real estate investing... It's hard as hell in the beginning, but once you get some momentum going, it's a great feeling. Very empowering.

That's about all I've got for now.

Roger Dodger, 10-4, Over and Out.

P.S.
Richard, here's a picture of the mason ladder I use to make stakes for my signs....



P.P.S.
Countdown to Costa Rica: 10 days!

9/29/2008

Today was not good.

Mrs. Hancock decided to stop taking my calls, the bank will not give me another extension, and we are supposed to close tomorrow. Good times.

The other deal that was supposed to close a week ago is probably never going to get to closing. The assholes at the bank's title company will not return phone calls, and no one knows what is going on from one day to the next . Same old story. Blah, blah blah, I want to head down to Ft. Lauderdale with a bat...blah, blah, blah. You've heard it all before.

Oh, and I'm writing this post from one of the computers on the 8th floor of Skypoint, because my computer is FRIED!

AWESOME!

P.S.
No- I did not back up my files, and yes, they are all gone. Woohoo!

7/24/2008

Well, the deal that was supposed to close today did not close, and the one that is supposed to close tomorrow (the pink house that was supposed to close a month or so ago), is not closing tomorrow either.

Any guesses as to why they didn't close??

I'll give you a hint- it begins with a "B" and ends with a "ank's stupid-ass title companies."

My favorite part was this morning when they sent over an extension for the one that was supposed to close today (the one where my title company has been ready to close since last week and the lady at Watson bit my head off when I called her to see when we could close)...Anyway, so they send over this extension and tried to get me to pay $100/day for each day it goes beyond the original closing date!! HAHAHAHAHAHA!! At least they have a sense of humor along with being slow and rude and incompetent. I sent the extension back with the $100/day nonsense crossed out and a little note letting them know there is no way in holy hell that I am paying a single dime for their screw up. Haven't heard back, so I'm guessing they aren't going to press the issue.

Nothing else exciting to tell. I'm pretty close on another deal, but still going back and forth with the bank. We're 8k apart right now, and I'm not going any higher, so we'll see. I've already got a buyer lined up if I get it, so that's a bonus.

Roger Dodger. 10-4 Over and Out.

P.S.
If anyone has sent me an email recently, and I haven't responded, it's not because I'm an asshole, I am just really behind right now. I swear.