Flip This Wholesaler

6/15/09

Well, it looks like I'm not going to be able to pull this deal off after all. I've got a few guys that are on the fence about it, but I don't think I'm going to be able to get them to commit by the end of the day today.

I ended up putting out 60 signs over the weekend (the goal was 100, but I didn't quite make it). My phone was ringing off the hook yesterday, although most of the calls came from tire kickers and/or people who couldn't speak English. That's the way it goes sometimes..

I need to get a few more deals in the pipeline, so this week I'll be making a massive amount of offers, and putting a massive amount of signs out looking for more buyers...

I hope all of you guys are doing well with the goals that you set for yourselves this month- today is the halfway point, so I thought I would update you with my progress.. I committed to getting up at 6 am 5 days/week (M-F), and getting my cardio out of the way first thing... So far, I am 11 for 11! I haven't missed a day yet, and I have to tell you, it feels FANTASTIC! I'd like to start implementing a few more habits into my daily routine, but Leo Babauta is adamant about only working on developing one new habit every 30 days. I think I will take his word for it, being that he is a Zen Master and all..

Well, gotta run- the mls is calling me....

Happy Monday, Blogosphere!

P.S.
Did anybody else get their Facebook vanity url over the weekend? I forgot about it until Saturday afternoon, but still managed to get my name! Facebook.com/StephaniDavis. :)

12/2/2008

So, I was supposed to have a closing today. Everything was ready to go- the bank's title company sent the HUD and title commitment out yesterday, and we were all set to close today. 2pm I get to my title company. My buyer is there with his cashier's check in hand. Sweet.

And then I get the news that my title company just received an email from the bank's title company, and OOPS, they aren't really ready to close after all.

Apparently they forgot to get the bank to sign the addendum which changes the buyer's name on the contract from my personal name to one of my LLCs.

Oopsie!

The addendum is probably buried underneath a ham sandwich on someone's desk somewhere...

Who knows how long it will take them to get it signed and prepare a new title commitment and get the new HUD ready. This could take weeks. Months even. And the not funny part about it is I specifically remember thinking to myself when I drew up that addendum (3 weeks ago), that I better make sure to follow up/babysit with the closing agent to make sure it got signed. Of course, I forgot.

This is what happens when you don't babysit your deal every step of the way. You can never assume that people are actually going to DO THEIR JOB CORRECTLY, because it rarely ever happens.

And then there's the deal that just fell apart yesterday. The one that was supposed to close in 2 weeks, and now, 2 months later the lien search is still not in. I'm not even kidding. How can it possibly take 2 freaking months to get a lien search back?

Anybody?

The buyer for this deal already had a tenant lined up for this house, and they had to find a new place by yesterday because their lease was up on their other house. They ended up having to move elsewhere, and my buyer got sick of waiting and pulled the plug. I am out of contract with the bank on this deal, and also out of contract with my buyer, so we will both get our deposits back, but there goes 5 grand right out the window thanks again to the stupid ass banks and their stupid ass, incompetent title companies.

So, yeah, I'm kind of frustrated at the moment..

Well, at least I have Phoenix to look forward to this weekend. Woohoo!

Peace out, homeys.