Flip This Wholesaler

3/26/2009

Remember California Guy? The one who took off in search of greener pastures a few months ago?

He had a problem with me making money on the deals I sold to him, and thought it would be easier to just go after the deals on the mls himself, rather than having me bring them to him on a silver platter. He never came right out and said it, but I could always tell that he viewed my profit as his loss.

I explained to him several times that it's a jungle out there in the world of REOs.... The good deals are gone in a matter of hours, and he would be better off letting someone else (me) do the legwork for him, so he could spend his time working on his rehabs, managing his rentals, taking his wife and 3 kids out to dinner, etc, etc.

He didn't want to listen.

He called yesterday (after 3 months) to see if I had anything available, and also to vent his frustrations with trying to get good deals off of the mls (he hasn't bought anything since the last deal I sold him, btw). The conversation went something like this...

California Guy: There's definitely something fishy going on with these REOs...

Me: What do you mean?

CG: I mean we've lost out on 6 deals in the last month.

Me: What do you mean "lost out"? (I knew full well what he meant, but asked anyway because sometimes it's fun to rub a little salt in the wound).

CG: I mean, every property we are interested in goes pending before we even have a chance to go out and look at it, and when we do manage to get our offer in, we never get the deal- even when we offer over list price.

Voice Inside My Head: HaHa motherfucker- I told you so.

Me: Welcome to my world. I told you it ain't easy.

CG: Send us anything you get from now on..

**************************************************

So, anyway, these guys have a million or so bucks and are looking to spend it in the Tampa market, and, after spending 3 months chasing after deals on the mls, have thrown in the towel, and are ready to swallow their pride, and let me find the deals for them. Again.

We'll see what happens.

Adios, amigos!

1/27/2009

Well, I finally sold the house I got for 16k! I was starting to panic a little bit, as I am used to already having my deals sold by the time everything is signed with the bank. I ended up getting 20k for it from my sans ID buyer (I'll refer to him as SIB from this point forward). I could have just sold this to him 2 weeks ago, but I wanted to flush out some new buyers (which I did), so I decided to market the hell out of it for awhile before I resorted to the ace in the hole.

It looks like 2 of the 4 deals I'm working are going to close this week. One tomorrow, and the other Thursday or Friday. There is a third that is supposed to close Friday, but it doesn't look like the bank's title company is going to have everything ready. Then the one I just sold to SIB is scheduled for Feb 10th.

Now it's time to get some more under contract.... I went and looked at 10 houses yesterday, and by the time I got back home to write up offers, 4 of them were already pending. I don't know if it's just me, but it seems like I have a heck of a lot more competition all of a sudden. I went to make an offer on a property last week that had just been listed, and the listing agent told me he already had FIFTEEN offers on it. Crazy. There's still plenty enough to go around, and to be honest, I kind of like it. Nothing beats a little healthy competition, although, I could do without the assholes who steal keys out of lockboxes so no one else can go inside. Man, that pisses me off. Dirty-pool-playin mother fu*k*#s.

Well, that's all I've got for now. My Dad is flying in today at 3pm for a week long visit... I think were going to head out to Clearwater beach for some cold beer and She-Crab soup at Frenchy's. Yummmm.

Go make some offers, y'all!

P.S.
I'm listening to Nate's coaching call with Steve right now. Good stuff.

P.P.S
Does anybody know if it's possible to watch the Australian Open matches online (free or not, doesn't matter)? I don't have cable and I don't want to miss the rest of the matches.

12/16/2008

So, the second deal that was supposed to close yesterday, did not close. Not really sure why. The bank's title company sent over the HUD with tomorrow's date on it for the closing, so, I guess we're closing tomorrow. Then I've got two that are supposed to close Friday, but I'm trying to get one of them done on Thursday because my buyer (same guy who is buying the one from me tomorrow), is going out of town early Friday until the 3rd of January.

I made a bunch of offers yesterday and a few today. Jim and I had intentions of going to the hood to look at houses today, but once we got there, I decided that it was too beautiful of a day (not trying to rub it in, Northerners) to spend looking at shacks, so we decided to go to the dog park instead, where Jim came ever so close to dining on a squirrel sandwich for lunch.

And that's all I've got for today.

Well, except for this picture I took from my balcony tonight of the Suntrust building in all it's Christmas glory. I don't know how long it's been dressed up like Santa, but I just noticed it tonight....



HO HO HO!

12/11/1008

I probably shouldn't even be writing this, because I have a nasty habit of jinxing myself by saying stuff like this, but....... It looks like at least 3 of the 4 deals that are supposed to close next week, are actually going to close next week. I'm a little shocked/skeptical/afraid to go outside because I'll probably get hit by a bus, but it appears like it's actually going to happen. The 4th one (the one where they screwed up on the addendum), may close too, but I just haven't gotten a verbal confirmation from anyone yet.

2 of these deals are being closed at my buyer's title company (the buyer who is sans identification), and even though they have told me 12 times that they will do a simultaneous closing, I still think they are going to screw it up somehow. I'm just waiting for the phone call where they tell me they misunderstood what I was trying to do, and that it is really illegal to do simultaneous closings, and that I'm going straight to hell. I had dreams about it last night, and I'm going to be a nervous wreck until they actually close.

One of the deals is actually ready early (this is the one where I went directly to the asset manager). It's supposed to close next Friday, but they contacted my title company today and said everything is ready. I am SHOCKED. Of course, now my buyer isn't ready, but I won't get into that right now. He'll be ready by next week (he's actually in Columbia right now and won't be back until then). It's always something...

I haven't made any offers these last few days because I've been busy putting fires out and harassing people. I guess I better get back to making them, though, cause I'm not going to have anything in the hopper once these deals are closed.

That would be the best Christmas present EVER if I could close all 4 next week.

I can dream, can't I?

12/9/2008

So, I decided to try a new approach to getting the bank's title companies to get my deals closed on time. I like to call it........ "Operation Throw Your Lazy Ass Under The Bus." Basically, what I do is, dig up the asset manager's contact info (this is not the easiest thing to do, but I am nothing if not resourceful), and then start throwing people under the bus, one by one. It's actually more fun than I've had in a really long time. The best part is, I do it in such a way so that it doesn't appear that I am actually tattling on people, because, as we all learned in kindergarten- no one likes a tattle tale. So, I just send an "innocent" email explaining the absolute nightmare that it has been to get a straight answer out of anyone as to why in the hell my deal is not going to close on time, and why are files getting lost, and why are addenda (addendums? addendi?) never getting sent to the bank, and why is Paige ignoring my phone calls and emails when she said she would get back to me by noon yesterday??? I just want a straight answer from someone.

This approach is still in Beta testing, but I have high hopes.. I had to give up on the bribery strategy, because there are just too many people involved in the closing process/fiasco, and it's hard to pinpoint the one person who actually might be able to push the deal through. Plus, it really irks me to have to pay people extra to do their job correctly.

I got another offer accepted today, which makes 5 that I have under contract right now, and which also pushes my stress level into the red zone. Especially since I offered to close on Monday on this one, and they ended up taking me up on my offer. This would not be problematic since I already have a cash buyer lined up, however, there are some issues to be dealt with. Here's how the phone call went today between me and my buyer.....

.....................................................................................

Me: Hey Jim, I can get that property on Sitka to you for 27k. You interested?

Jim: Heck yeah.

Me: Well, it needs to close by Monday, and I know you like to use your title company, but I'd feel much better using mine because I know they can get it done in less than a week, so how about we split the closing costs (I normally make my buyers pay all closing costs on the second transaction), and we close at my title company?

Jim: Well, that's fine, except I don't have an ID.

Me: Huh?

Jim: Yeah, I don't have an ID. I've been doing deals at my title company for so many years and they will notarize my documents without my ID. Is that going to be a problem.

Me: You don't even have a state ID or anything?

Jim: Nope.

Me: Uhhhhhhh, let me call my title company and see what the say......

..................................................................................................................................................................

So, I call my title company and explain, and they, of course can not do the closing without an ID from him, because the docs have to be notarized, but they say they can do all of the title work, and then just send it to his title company and have them do a courtesy closing, and sign the docs there and wire the money to my title company, who would then wire it to the bank's title company. Lost yet?

This sounded good for awhile, but I can't even imagine having to add a 3rd title company into the mix, so I called and talked to the attorney who owns my buyer's title company, and he said they would do a simultaneous closing (using my buyer's funds to fund both deals) as long as there was full disclosure to my buyer (there is ). S0000000000, long story long, it looks like we are closing at his title company, and I just KNOW it is going to be a really good time. Should make for some great blog fodder, anyway.

Well, now I have 4 deals that are supposed to close by the end of next week, and I think we should all take bets on how many actually close. I've got my money on one. One out of four- that sounds about right.

10-4. Over and out.

P.S.
In case you're wondering why my buyer doesn't just go out and get an ID, well, I'm just guessing that he can't, and I don't really want to know why.

12/8/2008

Well, what can I say? Phoenix was AWESOME. I can't even tell you how lucky I am to be a part of the mastermind group that I am in. There is an amazing cast of characters that belong to it, and I have learned so much from all of them already. We crammed so much into the 3 days we were there, and I left feeling more motivated and positive than I have in a really long time. I set some new goals for myself to achieve before our next get-together, and let me just tell you, the consequence for not achieving them is something that I can not let happen..... So, needless to say, I've got some work to do over the next few months..

I ended up getting another offer accepted while I was in Phoenix (right after I landed, actually). I already had a buyer lined up for this while I was countering with the bank, so that's good news.

I have another REO-title-company-disaster in the works right now. (Yaaay!) So that makes two. Both deals are supposed to close on the 19th of this month. One of them is the one that was supposed to close last month where they forgot to get the addendum signed. The other is one I got accepted about a month ago, and the bank's title company lost the file or something, and no one knows what the hell is going on, and no one really cares, either- well, except for me and my buyer. That's pretty much the status of the other one, too. I am SO, SO, SO, SO, SO, SO, SICK of dealing with these incompetent, effing, morons. Seriously, I am just FED. UP. It's like I have to do the job of 4 other people if I want to get a deal to close in a somewhat reasonable amount of time. It's so frustrating. I probably spent 3 hours on the phone today trying to get in contact with someone who knew what the heck was going on, and I still got nowhere.

The one that I got accepted in Phoenix is also supposed to close on the 19th, but I highly doubt they will be able to pull it off. It would be nice to close all 3 in one day, and then a few days later head home for Christmas. Is that too much to ask, I wonder?? Can I request a Christmas Miracle??? Please?

I have a few other offers out there that I might be getting accepted this week, and then I still have to sell the one that I got accepted the day before I left. I have an entire 30 days to sell that one, and I'm making at least 10k on it, come hell or high freaking water.

And now I'm off to bed.

Adios.

10/30/2008

Well, I'll be damned if one of my REO deals isn't closing tomorrow......ON TIME!! Holy shit- somebody pinch me! I didn't think it was possible. Of course, it's not actually closed yet, and I wouldn't be surprised if the house got sold off to another bank tomorrow morning- it could happen. (Wait- actually, it HAS happened - remember the pink house deal???) Or, my buyer could get struck by a random bolt of lightning on his way to the closing. Or, have a heart attack while sitting at the closing table (before signing the docs). It could happen.

I have another one that's supposed to close this coming up Monday (was supposed to close Monday of this week, but you know how that goes).

I got another one under contract Tuesday and sold it to my new California buyer. Yay! We met for dinner yesterday to get the contract signed and to discuss his plans to dominate the Tampa housing market and also to make me filthy rich. Teehee.

Let's see, what else?

Oh- I punched my computer today (really hard), and now it's even more messed up than it was after I spilled wine on the keyboard a few weeks ago. You see, I was trying to get the TWENTY FIVE PAGE offer package for the deal I just got under contract, printed, filled out, and FedExed to Countrywide before 6pm (last FedEx pick up). The first time I printed it out, signed and initialed everything, and then realized I signed in black ink instead of blue (Heaven forbid you sign in black!). So, I reprinted another 25 pages, and then realized I printed the package for the wrong address, and so then when I went to print another 25 pages, my printer ran out of ink and I had to haul ass to Target to get another ink cartridge and then when I went to print for the 4th time, a piece of paper got jammed in the printer, and then my computer just froze up, and I lost my temper and punched the keyboard as hard as I could.

And it felt GOOD, let me tell you.

I suppose I should invest in a punching bag or something, as I think it might be less expensive in the long run.....

And that's all I've got for now.

Dobryj vyechyer!

P.S.
I ended up getting to FedEx on time. Barely.

10/21/2008

Hi Everybody. Sorry for the lack of posting lately. It's been an interesting 2 weeks. I started getting some emails asking if I was dead or something, so I thought I would write a quick post to let you know that I am not dead.

In a nutshell.....

*The "Stacy" deal is still not closed. Actually it's supposed to close tomorrow but I still haven't figured out how that's going to happen. A miracle, perhaps. This deal officially takes the cake as the most horrible, awful, pain-in-my-ass-of a-deal I have ever done. Seriously, it just keeps dragging out, and just when I think it is going to work out....it doesn't. I HATE THIS DEAL WITH A BURNING PASSION. HATE. IT.

*I got two new REO deals under contract 2 Fridays ago and sold them both by the end of the weekend (still not sure how I pulled that off, but I did).

*May be getting another REO under contract tomorrow that I already have 2 buyers for. This will truly be a miracle if it works out as it was the easiest deal ever to get- just hanging out there on the mls waiting for someone to offer on it. "Pick Me! Pick Me!"

*Have had the most stressful month of my entire life. Well, except for last year at this time. I have gray hair now.

*I'm getting sick. This does not fit into my schedule so I am just going to pretend like I am not sick. I'll let you know how that works out.

*If you think there are no buyers out there, you need to pull yourself away from the TV and listen to someone who is out in the streets selling deals, right now, in this "crappy" market (that would be me). I went on a Ninja mission last week to find buyers. Put out 40 signs, and called every "for rent" sign in the city of Tampa. I am not kidding you when I say I have buyers lined up and waiting for me to find them deals. I am not blowing smoke up your ass, either. I swear to God, I have more buyers than I have houses to sell them, which is why I can not get sick right now. I NEED SOME MORE HOUSES! I have 10 to look at tomorrow, and I will be offering on every single one of them.

*I am getting a house from the bank for EIGHTEEN THOUSAND DOLLARS!! Can you believe that? I can not. It's in a crappy neighborhood, but only needs about 8k in work and will rent for $750. I had this house sold in one phone call. The guy I am selling it to says he wants to buy a house like this each week for the next year. He is a cash buyer. This makes me happy.

*I went to see the Rays game Sunday night and had seats right behind third base. Had a blast. I spent the last 15 minutes trying to post some pictures, but my computer is evil and will not let me, and I am all out of patience.

*Someone is blasting the Spice Girls from their balcony right now and I am about to go outside and assassinate them.

And, that's all she wrote.

Buenas nachos.

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.

10/1/2008

I got sick of waiting to hear from the people at the bank's title company about what was going on with my deal that was supposed to close last week, so, yesterday I decided to call them every single hour on the hour until I got a straight answer. This strategy turned out to be quite effective, and I finally got through to the attorney who has been blowing me off for several weeks now, and who I started referring to as "Air Quotes Stacey", due to the fact that I sincerely started to question whether or not she actually existed.... Every single time I called/emailed she was out of the office, on the other line, in a meeting, painting her toenails, eating lunch, etc.. The thought crossed my mind that maybe "Stacy" was code for something over at The Law Offices of Bakalar & Topouzis...something like: "You're screwed and your deal ain't never gonna close, so STOP CALLING OUR OFFICE EVERY DAMN DAY!" Or something along those lines. So, anyway "Stacy" explained what the hold up was and said they are just waiting on some documentation from another attorney, and should have what they need by Friday. I have no faith in that actually happening, but you never know. Maybe the REO gods will throw me a bone on this one.

What else? I just got a counter on one of my offers from yesterday. Listed at 100k, I offered 60k, and they came down to 80k right off the bat. That's a good sign....

And that's all for now, folks...

P.S.
I forgot to say that I told the listing agent I want a lower price if this goes past the 15th of this month. She didn't seem to have a problem with that, and I don't think the bank will either, particularly since I put this under contract in JULY. Another wholesaler told me about this little trick, and has made lots o' money using it. :)

9/10/2008

Well, it's official- I'm on vacation! I'm not technically leaving until tomorrow morning (not too excited about flying on September 11th), but I decided I wasn't going to make any more offers until I get back on Monday. It's tempting, though, as there are a few houses I have my eye on, but I don't want to be working while I'm back home, so I'll just wait until next week.

The two deals that I thought I was going to get, I ended up not getting. The one where the bank initially came down to 63k from 90k and then told me I had to resubmit my offer....well, when I resubmitted my offer, they only came down to 87k and wouldn't budge. WTF? And I even raised the earnest money from 1k to 2.5k! This is what I mean when I say that there is no rhyme or reason to what the banks do, and also why I LOVE low balling the shit out of them and taking them to the cleaners. They deserve it, as far as I'm concerned...... The other deal where I was in a bidding war with 3 other people, ended up turning into a bidding war with every wholesaler in Tampa, so I highly doubt I'm going to get it now. Can't wait to see how high it goes, though.

I've got one deal that is supposed to close on Tuesday, but I don't think the title company is going to be ready to close on time, and for once, I hope they aren't. In a nutshell, the hard money lender who is supposed to fund this deal, dropped the ball, and as a result, the inspection/appraisal has not even been done yet (should have been done last week), and I don't think there is a chance in hell that they will be able to fund it on Tuesday. This is partially my fault for not following up/babysitting like I should have been. Sometimes I forget that part of my job is to make sure other people are doing theirs.

Well, gotta run. I'll try to update at least once while I'm in beautiful, Middle of Nowhere Illinois...



It's not snowing there yet, is it?

9/2/2008

Well, I'm pleased to announce that my team came in first place at the 1st Annual Labor Day Cornhole Tournament! I snapped some pictures of the festivities for you....

The competition.....




Cornhole in action


Behold......the Champions..


On top of that...the love of my life just secured his spot in the quarterfinals of the US Open! He's flying me out tomorrow so I can be there to cheer him on for the rest of the competition.

And, in other news, I got a fantastic counter offer today on an REO that I offered on last week. This one was listed @ 90k, I offered 55k, and they dropped down to 63k right off the bat. I countered back at 57k earlier today, and am waiting to hear back from the bank. I think I can get between 65-69k for this one. Keeping my fingers crossed....

¡Adios Amigos!

8/28/2008

I had intentions of going to look at 5 houses today that I wanted to offer on, but I got a call from my friend Jeff just as I was heading out the door, asking if I wanted to go to Frenchy's for lunch...

I just can't say no to Frenchy's- it's my very favorite beach restaurant. They have this amazing She Crab Soup that I could eat by the bucket(s) full, and the views are amazing, and they have lots of beer. That's a combination I just couldn't refuse. Also, it was gorgeous out today, and I've had a very productive week, soooo....off to Clearwater beach I went....

Meet Jeff


Beer #3


2 of the 15 pigeons that got to have a taste of my delicious Cajun
grouper sandwich (yes, I'm that person who feeds the birds and pisses everyone off :)


The view


I did manage to get some work done while I was there, and should be locking up that house I was talking about in my last post. The buyer I originally thought was going to take it (the guy I hunted down last week), was not interested, but another wholesaler who I do a lot of business with, put me in contact with one of her buyers, and she's "supposedly" going to bring me a deposit tomorrow. I have never had much luck with female buyers (except Crazy Caroline, but I'm pretty sure she is possessed by Satan, so she doesn't count), so I am not holding my breath. I don't know what the deal is, but every single female buyer I have ever come into contact with has been a complete waste of my time. Perhaps this one will be different, but, like I said, I'm not holding my breath. We shall see.....

8/13/2008

Well, the pink house deal is FINALLY closed! Geeze Louise, I never thought that thing would make it to the closing table....

I've got a few offers out right now, and plan to make a bunch more tomorrow. I'm going to just keep stacking up the deals for next month. Normally, since I've already got 2 lined up, I would put myself on cruise control right about now, but like I mentioned in my last post, I'm going to break that habit once and for all, and take things to the next level....

I noticed with the last batch of offers I made, that jacking the earnest money deposit up to 5k (as opposed to 1k), really seems to get the bank's attention. Couple that with a contingency free offer, and 7 day close (even though there's no chance in hell that they can get it done in a week), and you stand a pretty good chance of getting yourself a deal. I wouldn't recommend doing that, though, unless you have an end buyer in mind, or know that it's such a fantastic deal that there's no way you won't be able to sell it. Otherwise, you could seriously screw yourself, and nobody wants to do that.

Over and Out...

7/30/2008

The pink house deal FINALLY got assigned to a closer at the title company, so there should be no reason for it not to close this Friday (famous last words). We also told the listing agent as well as the title company that if it doesn't close by Friday, we are pulling the plug and walking away. So, we'll see what happens. We decided that we are going to have a party when/if this stupid thing finally closes.

I'm still 2k away from the bank on the other deal that I have been working on. They're at 44k, and I want it at 42k. I'm pretty sure I can wholesale it for 49k, but the buyer I had in mind for it can't commit 100%, so I'm just going to ignore the bank for a little bit and see if they will come down to 42k. I think they will. They've already come down 12k, why not 2 more?

I almost had another deal sold to McHotterson, but the wholesalers who have it under contract are holding out for more (which, I don't think they're gonna get). Oh well. I would have taken his offer all day long (and twice on Sunday) if it were me. I'm all about the quick nickel...

Happy Wednesday!

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.

7/18/2008

Well, the deal I have with McHotterson that is supposed to close on the 24th, is most likely not going to close on the 24th. Even though I get to pick my own title company, the bank still has their (incompetent) title company run a lien search. I really don't even understand it at all, to be quite honest with you. My title company already did the title work and is ready to close, but I guess I am still at the mercy of Watson fucking Title. I really hate them, and the lady I spoke to today deserves to be punched in the face for how RUDE she was to me. I'm not kidding, this lady was such an asshole, I almost hung up on her. The lady handling the file at my title company also spoke to her and told me she bit her head off when she tried to get a closing date out of her. They haven't even ordered the lien search yet, which takes them 5-10 days, so who knows if we will even get this closed this month. McHotterson ain't gonna be too happy, especially since he is leaving the country for a month the first week of August, and I already told him we could most likely close it early. Dang.

Yesterday I had a little get together with a bunch of local wholesalers. I won lunch for 15 people at the Thai restaurant behind where I live, so I thought it would be a good opportunity to do some networking. Actually, it wasn't really a "free" lunch, as we had to sit through a presentation by a financial planner, and then offer up our phone numbers and email addresses. A few hours after the lunch I got a call from the guy who did the presentation, and got trapped on the phone with him for 15 minutes, and somehow suckered into a meeting with him next week. I should have just told him I wasn't interested, but I'm really bad at rejecting people face to face (or on the phone). Also, I felt sorry for this guy, as he seemed really uncomfortable giving the presentation, and I kind of felt like I owed him something since he paid for lunch. Yes, I know, I am a big fat SUCKER.

A friend of mine called me a little bit ago and told me to go out on my balcony and check out the moon. This picture doesn't really do it justice, but it was pretty cool in person- all yellow and glow-y......



Happy Friday!

7/15/2008

The deal that was supposed to close last Monday, then Wednesday, then yesterday, funded today, so it's officially closed, finally. One of the wholesalers that I met about a month ago and who I have become fast friends with, is the one who brought me the buyer on this deal, and the deal that closed Friday was one that he had under contract and I brought him the buyer.... Soooooo...... we decided to head out to the beach to celebrate closing our first 2 deals together. We had a good time....



Meet Dave.


Rain in the distance...


Peace.

Everything is on track for the two deals that are supposed to close next week. Spoke to my new buyer today (I will refer to him as McHotterson from here on out), and he is ready to close early if possible, and, since my title company is handling the closing, we should definitely be able to get it done early. He also asked me to find him another deal before the beginning of next month, which, as you can imagine, was music to my ears. Sweet, delicious music......

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.

7/2/2008

I can't sleep. So, I figured I'd write.

Let's see, the computer guy came out bright and early and I was back online by 9am. Apparently the person who lives in the condo next to me was supposed to have their service disconnected, but the guy accidentally disconnected mine instead. So, that's good news. I was expecting something much worse..

I went and looked at 5 houses today, and discovered new and exciting parts of the hood that I never knew existed. If my camera wasn't broken, I could have taken some great pics today to post on here- like the Texas Chain Saw Massacre House (it was more of a shack than a house, though, from what I could tell), that had so much garbage around it that you honestly could not even see the actual structure. There was garbage everywhere, along with huge posters of Barack Obama EVERYWHERE. There was also a HUGE banner tied from one tree to another that read: "Revolution or Obama- 3rd Option: Adopt More Slavery." I'm still a little unsure of what exactly that means. I can not even imagine the code violations that this property has against it. One of the properties on my list was right next to this place, and I'm thinking they are gonna have a really, really hard time selling it with a junkyard next door. I didn't even offer it- that's how bad it was....

I'm still impatiently awaiting the new asset manager to sign off on the paperwork for the deal that was supposed to close last month. What a joke. The listing agent said that this particular asset manager usually takes at least 3 days to respond to anything or anyone.... I wonder how long it would take her to respond if I set her house on fire? Hehe.

The deal that I closed on with my friend a few weeks ago is set to close this coming Monday. The buyer's hard money is good to go, so I don't anticipate any problems (famous last words). I have a backup offer if for some reason it does go south, so I'm not too worried about it (again, famous last words).

The third deal I just signed up is supposed to close on the 25th of this month, and the buyer is my favorite buyer who is rock solid, so, unless, the bank screws it up, I don't see any problems with that one either...... Oh, speaking of the bank screwing things up- I was talking to a friend of mine today who has a deal that was supposed to close tomorrow where he was going to make 10k. Instead of getting the closing docs from the title company today, he got a phone call saying they effed up the foreclosure somehow, and now have to start the process all over again. Good times!

Well, it's 2am. I guess I should try to sleep....